Auctions

Auction provides a structure to the listing process, and is regarded as the premium choice of marketing. Should an auction listing not sell during the auction programme, you will have increased your chances to sell the property as an exclusive (price by negotiation or fixed price) due to the enquiry and buyer activity generated. Here are some reasons why it works!

• The seller sets the terms, conditions and deadline.
• This auction-oriented target marketing puts the `spotlight' on the property, adding a competitive edge that strongly favours the seller.
• The property is neither overpriced nor undersold; its value is determined by the market and individual buyers.
• The `no price' aspect will attract more genuinely interested, cash-in-the-hand buyers.
• It allows sellers to plan ahead in the knowledge that a specific date has been set for the sale of their home. A cash buyer means the seller can proceed immediately with their goals. A sense of urgency is created by the set timeframe, bringing interested buyers to a point of decision.
• The level of market interest will help the seller gauge the reserve price, with the real possibility of achieving a premium price. The seller has the option and may decide to accept a cash offer prior to auction day. Those who attend the auction will be focused on establishing the maximum price they will pay, not how little the offer should be.
• The seller controls the terms of transaction and actively participates in the sale process. A successful purchase requires a payment of a deposit on the day, usually 10% of the purchase price. If the property is passed in, it will be exposed on the open market as an exclusive listing at a saleable price established from the market feedback received throughout the auction process.
  
  

Your Marketing Campaign
Marketing your home is essential when auctioning.
Our experience has been that often the stronger and larger the campaign, the more likely you are to attract the attention of prospective purchasers. 
Sandra and her team will assist you with selecting a campaign that fits your needs and your budget whilst ensuring your property is highly visible in the marketplace.

Open Homes
Sandra and her team in addition to providing information on your property, will provide the Sale by Auction documents, LIM, Title, etc to prospective purchasers (those showing good interest in the property).
Other Harcourts consultants will register their client’s interest in writing using a ‘Buyers Registration Form’. Sandra and her team will familiarise you with this.

Market Feedback
It is essential during the auction campaign that you receive as much feedback as possible. Sandra and her team will contact all viewers and prospective parties during your auction campaign.  We do this to ensure you are fully equipped with the current market’s feedback in order to prepare you for your decision making come Auction Day.

What happens if a buyer wants to submit a Pre-Auction offer?
A copy of this procedure is included in all our auction books provided to buyers. The offer must be unconditional and presented with 10% deposit attached.

Reserve Set
Your auctioneer, Sandra and one of our auction managers will attend the reserve set meeting so you can meet the key people who will be assisting you on auction day. The auctioneer or auction manager will then take the reserve documentation with them. The reserve is confidential to the parties present.

Aside Agreements
On occasion aside agreements are requested by purchasers. An aside agreement is a formal request for a variation to the particulars and conditions of your auction.

Auction Day
Our auctions are held in our gold auction rooms situated at the rear of our Papanui office at 471 Papanui Road. Refreshments are provided and parking at the rear of the building and outside the auction rooms is easily accessible. You will be supplied with an order of auction to give you an indication of where in our auction schedule your property sits, this is known as the order of sale.

Click here to view our live online auctions