Your guide to selling your home through auction

The process of selling your home through auction can be both an exciting and stressful one.

There’s a lot to consider before you even get to auction day. That’s why it pays to be as prepared as you can be.


Auctioning your property is about more than simply showing up on auction day. There’s a lot that goes into it before-hand to ensure you achieve the best result possible for your property.

Marketing your property well is chief among the things you’ll need to do.


Your agent should walk you through your marketing plan in detail, from the images that’ll be selected and advertised, to the copy to be included, and where the property will be advertised (online, papers, brochures, in office). Before you go to auction, you should expect to hear from your agent on a daily basis and a face- to-face meeting around once a week. Ideally, you’ll receive a written report which summarises all of these activities as well as the interest in your property. Your agent should also be keeping you wellinformed of the market, so that you can make the best decision come auction day.


If at all possible, you should attend your auction in person in case of any last minute questions. Some common ones buyers ask are: “Can we vary the deposit amount?” or “Can we vary the settlement date?” Your auctioneer will also want to confer with you depending on how the auction is going. If bidding stops below your reserve price for example, your auctioneer will want to discuss next steps with you.


The auctioneer should walk through the property, understand the features of the home, to appreciate why a buyer would fall in love with it. That way they’ll be able to better represent your home to buyers. Your auctioneer will also want to know all about the interest the property has received. They’ll ask your real estate agent detailed questions about it. How many inspections have there been? What kind of interest has the home received? Have any valuations been done? Any building/pest inspections?


The success of your auction can be largely dependent on your marketing campaign. An experienced agent will know which media products will be effective in drawing in the type of buyer that your property suits. I

f you are in a high-demand market, don’t be lulled into a false sense of security on achieving a good sale price. An effective marketing campaign is still crucial to bringing the right people together on auction day.


It’s important for you to understand and be clear on what your reserve price is, and how it’s used during the auction.

Your auctioneer should be able to explain this to you in detail. Your reserve price will be provided to the auctioneer in writing. Before bidding commences, the auctioneer will announce whether or not a reserve price has been set, but they will not disclose what that reserve is. That being said, try to avoid openly discussing price with others, to reduce the risk of price leaking out into the market.

The auction should focus on the product (your home), and price should become secondary. Remember, at all times during an auction, you’re in control. If a bid is high enough take it. If not, don’t. But the reason for not taking the offer needs to be greater than the reason the home is on the market in the first place.