Monday, February 8, 2010

Three stages of an Auction

Most people aren't aware that an Auciton has three distinct stages:

The first stage is the marketing, getting the news about your property out to everyone who may interested, conducting Open To View sessions and collecting information and responses from the prospective buyers.

The Second Stage is the day of the Auction - Show time - the auctioneer, the agency staff prospective buyers come together and take part in the auction process.

Stage three - After the Auction - this is a critical time for following up all those buyers who were interested but unable to buy under Auction conditions (ie: finance approved, all conditions met)
Even if a property doesn't sell on Auction day it usually does in the post auction phase.

Next time - understanding all those auction terms.

Until next time


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