Auction / No Price Marketing
Selling by auction is also an exclusive agency agreement and is therefore also subject to the 90 calendar day agreement period.
The auction process requires the seller to pay the agent to arrange effective marketing and advertising to maximise exposure of the property and the actual auction date to potential buyers.
Under the auction system, the seller agrees to pay commission to the listing agent if the property sells before the date of the auction, at the auction or in an agreed period after the auction.
The same conditions that apply to the auction process will also apply to the tender process.
There are many advantages to selling a property at public auction, in particular:
A written marketing plan with pre-agreed appointment times enables the sellers to arrange their lives during the lead up period.
The auction process by its very nature creates a sense of urgency; buyers have a definite time frame in which they must act. Buyers see the purchasers as competition rather than the seller. Auctions create a competitive environment.
The auction process requires the seller to pay the agent to arrange effective marketing and advertising to maximise exposure of the property and the actual auction date to potential buyers.
Under the auction system, the seller agrees to pay commission to the listing agent if the property sells before the date of the auction, at the auction or in an agreed period after the auction.
The same conditions that apply to the auction process will also apply to the tender process.
There are many advantages to selling a property at public auction, in particular:
- The vendor has the opportunity to sell the property before auction or on the day of auction
- In the event the property is not sold on the day it is common for a sale to occur shortly after
- There is an ability to set a reserve price and a settlement date to suit the seller
- The reserve price is not disclosed prior to auction which allows the seller to review and adjust their acceptable selling figure.
A written marketing plan with pre-agreed appointment times enables the sellers to arrange their lives during the lead up period.
The auction process by its very nature creates a sense of urgency; buyers have a definite time frame in which they must act. Buyers see the purchasers as competition rather than the seller. Auctions create a competitive environment.
- Checklist Before You Sign Up With An Agent
- Why Choose SIRE?
- Why Buyers Buy From Us?
- 20+ Tips To Increase You Chances Of Selling Your Property Quickly And Achieving The Highest Possible Price
- The Importance Of Marketing
- What Selling Option is Best To Get You The Highest Price?
- Auction/Tender (No Price Marketing)
- SIRE Guarantee
- Buyer's Source - SIRE 100% Solution
- Success Rates
- Why Agents Should Not Fund A Clients' Marketing Programme
- FAQs
