Online Property Auction Prep

Spring is here! David’s 5 guided tips to online auction prep

1. Understand the process
It is important that agents understand completely the process of an auction & what is needed from owners when selling their home. They will want to employ the services of a trustworthy, competent, local real estate agent who can prove to them that they can adapt to all market conditions and understand how to market a property via an auction campaign. Agents must give vendors comfort that their auction campaign will not be disrupted by COVID lockdowns. 

2. Make the property shine
Decluttering and some minor restoration works, including paint touch-ups and garden landscaping. You want the home to present well for videos and photos when marketing – this will also help your branding! First and last impressions for buyers are critical.

3. Get paperwork in order
Having a solicitor or conveyancer prepare an auction contract and understand that potential purchasers may require slight amendments to the contract. Be prepared for these changes! Make sure your agent understands every part of the contract including any covenants, easements, or rights of way so they can communicate these to potential buyers and allay any worries.

4. Have an auction day plan
Agent’s must deliver regular, concise and accurate information throughout the campaign, so the owners are well informed and in the best position to formulate the correct reserve figure.

5. Trust the process of an auction
Agents have undertaken a comprehensive advertising campaign and marketed without a price so they can expect multiple bidders ensuring a positive result.