Your Complete Guide to Selling at Auction 8 Your Harcourts auctioneer Your Harcourts auctioneer will discuss with the listing agent what the key selling features of the home are, to really understandwhy a buyer would fall in love with it. That way they’ll be able to better represent your home to buyers. This informationwill assist the auctioneer in developing a strategy on auction day. They’ll ask your Harcourts sales consultant detailed questions about it, such as howmany inspections have been held, what kind of interest the home has received, valuations done or any building/pest inspections. These discussions usually take place at your ‘reserve set’ meeting two to three days prior to your auction. They will discuss with you all the possible scenarios of what can unfold on the auction day itself, so you get no surprises other than the result you achieve. GETTINGTOKNOW YOURPROPERTY The Reserve Price It’s important for you to understand and be clear onwhat your reserve price is, and how it will be used during the auction. Your Harcourts auctioneer will explain this to you in detail andwill develop a strategy for the auction, based around the reserve price. Remember, your Harcourts auctioneer will be working to ensure you get the best price possible for your property. It’s important not to openly discuss price with others, to reduce the risk of a price leaking out into themarket. The auction should focus on the property, and price should become a secondary factor to buyers. Remember, at all times during an auction, you’re in control. It’s about finding the best buyer at the best price, and if the highest bid is at an acceptable level, then you can take it and sell. If not, the property can be passed in and negotiations with interested parties can begin. However, auction provides youwith the best chance to sell your property without undesirable terms and conditions.
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