Copyright 2014© Melonas & Associates Real Estate Group
Setting the terms of auction
Before the property goes live on the market for auction we have to make sure we have set the terms for the
* Buyers to meet
* Range price
* Bidding to start figure
* Deposit Amount
* Close time
These terms are advertised throughout the entire Auction campaign. Therefore if a buyer wishes to purchase at Auction, they must do so under the advertised terms
Calendar of events
A calendar will be provided to you from the auctioneer and Agent once we have finalized all the events in the marketing campaign we believe it is very important for you to know what is happening and when this is so you understand that we are doing everything we can to provide you with the best result and leave no stone unturned in the search to find you the right buyer for your property
Making the public aware
We want every possible person that is thinking about buying to come through the front door of your property and this where we can leverage off the word auction. When we market the property, whether it is on the internet in the newspaper the word Auction will attract attention. Because there is only a very limited number of people that can offer you this process of sale this limits the number of auctions that will occur in an area, therefore allowing us to stand out from the rest. Standing out from the competition is a key objectives when it comes to selling your home for the best possible price.
Condensing public viewing into a limited number of open homes creates a perception of a greater demand for the property and we can maintain a great control over the process and the information about auction. Generally the agent will conduct an open house/public viewing twice a week, these times will be widely advertised and often the Auctioneer will also be in attendance
We take your decision to sell your home very seriously. This means we believe that you need all the information from the market place to make an informed and educated decision, so communication is key. We make sure that you receive a weekly communication with the agent and also the auctioneer to discuss what has happened in that week and what the plan is for the following week.
This meeting is typical held between yourself as the seller and the Auctioneer and agent 2-3 day prior to auction day. Within this meeting the Auctioneer will discuss the process for Auction day, what the agent and Auctioneer believe may unfold, what bidders will be in attendance and this is also an opportunity to reflect on the feedback which has been received from the marketplace through the auction campaign. Once this discussion has taken place, we set a reserve price at a figure you are comfortable with. Keep in mind, the sale of the property always remains the final decision of the seller and as such the reserve price that it can be adjusted at anytime through the auction allowing you the flexibility and peace of mind that you are in control of the sale.