b'Selling at Auction DosWhether its your first time selling a propertyOnce weve given your property a valuation, by auction, or youre well-versed in the process,the process of pricing it up ready for auction you can trust auction sales to be quick andincludes the following:easy, for both you and your potential buyers.Setting a reserve price - This is the However, with that being said, sellers do haveminimum price youre willing to accept for some essential tasks that need to be completedyour property, protecting you from selling for less than youre content with. This is decided correctly in order to get the best result possible: upon confidentially between the seller and the auctioneer; the property wont be soldDO: Research the best auctioneer for yourif this isnt met.propertySetting a guide price - This is the price we Whether its an auction house, or an auctionadvertise the property for. Acting as a guide, department within an estate agents, therethis gives potential bidders a general idea of are many auctioneers to choose from,how much youre willing to sell your property so deciding which one is best for yourfor. This must be within 10% (either higher or particular property is no easy feat.lower) of the reserve price. If youre torn between these, the best thing to do is to take a look at the portfolio ofDO: Decide on your preferred auction type auction properties that have been recentlyWe run two types of auctions - Traditional sold by these auctioneers.and Conditional Timed Auctions. The option you decide to go for depends on several DO: Compare pricesfactors, including how fast you need to sell Whether youve tried selling your propertyyour property. To help you choose, we have on the open market but have beensummarised these below: unsuccessful, or youre set on selling your property this way but want to find outTimed Auctions - You can also sell in a more information, such as selling price, weTimed Auction on our website. These will recommend getting a few estate agentsonly feature your lot and can be started at and at least one auctioneer to valuea time that best suits you and last as long your property. This will help give you anas you decide, anything from 24 hours to indication of how much its worth, and infour weeks. Since bidders can bid at their many cases, our sellers can even achieve aown pace within a specific time frame, this higher price by selling by auction comparedprovides ample opportunity for potential to selling via the open market.buyers to raise their bids on your property.'