Despite spending time preparing to sell your house at auction, when the time comes to watch your biggest asset go under the gavel, it’s normal to feel nervous about it. Auction-selling nerves affect all sellers, especially if it’s the first time you’ve sold your property under a gavel. However, they don’t need to get in the way of you experiencing one of the most exciting parts of selling your home.
We can help put your nerves at ease by running through our marketing strategy for your property. When the time comes to sell your property at auction, we can also run through the key elements of the auction strategy with you. This includes reconfirming your reserve price, the number of bidders expected, and the level which the auctioneer will start the bidding at, as well as the increments that the auctioneer will be accepting.
Even on auction day, the presentation of your home is important. Prospective buyers will be given the chance to walk through the property one last time, or in some cases, inspect the property for the first time. When presenting your home to prospective buyers, you might need to rearrange the layout of the furniture to make the space feel larger and brighter. Many buyers may also want to conduct a building and pest inspection before committing to buying a property, so it’s important that yours passes the test. By ensuring your property is thoroughly cleaned and presented in the best light, you can relax during the auction, knowing that bidders will be bidding on what they have just inspected.
If you’re nervous about not reaching the reserve, it can help to plan for the worst case scenario. Have a good idea of what your negotiation strategy is and know what the reasonable market price is. Consider what you might do if the property doesn’t sell and remember to be flexible when it comes to other options. If the property doesn’t sell, remember that there are other options available, such as renting the property out until the market works in your favour in the future. We’ll also be able to collect feedback from bidders and use that in forming another strategy should the house not sell.
During the auction, you’ll want to hear the proceedings so that when the auctioneer comes to you to discuss the bidding, you’re already aware of what’s happening. Your auctioneer is paid to take on the stress of getting your property sold, so trust them to do their job. The success of the auction should be based on the reserve price and getting that right, and your auctioneer and agent will do what they can to reach that.
It’s normal to feel nervous when selling your property at auction, but with the right agent backing you and time to prepare your home, you don’t have to worry.