Auction is a way of selling property through intensive advertising media designed to capture the maximum attention of customers within a set time frame. The process is a means of purchasing/selling real estate through public negotiations to determine the true market value of the property at that time.


Selling your property by auction has the following benefits:


Property Brokers sell over 10% of auction properties before auction day. You remain free to consider any offers before your auction day if you choose. You are in control. You set the reserve price with our guidance and select the possession date. An auction sale is an unconditional cash sale. Normally 10% of the purchase price is paid on the fall of the hammer, with the balance in 60 or 90 days.  You set the terms of the sale.


The property sale is usually made with our standard terms and conditions and any special requirements you have added in.


Finance - We can assist buyers with arranging finance prior to auction.

Open home times are arranged to cause you minimum inconvenience. You will be kept fully informed.


Good news and bad about the auction campaign and any comments relating to your property. At worst, if your property does not sell under the hammer on auction day, we will have identified all interested parties and many sales are made within a few days of the auction.


Because the auction process can be confusing to new buyers and sellers, answers to some frequently asked questions are listed below.


What is the reserve price?

The reserve is the minimum figure that the auctioneer is instructed to sell the property for on auction day. This figure is generally established as a result of feedback from interested parties during the marketing period and is usually set by the client prior to the auction.


How do people bid at the auction?

The auctioneer will ask for an opening bid and will then nominate the increments by which the bidding can be raised. Interested parties simply attract the attention of the auctioneer by:


Can I sell before auction day?

Yes, in most cases you can. This is called a pre-auction offer. A customer may submit an offer on the Auction Particulars and Conditions of Sale Agreement. If this offer is acceptable to you, all other registered customers are given the opportunity to submit their offers if they wish to. You can then decide which offer suits you best.


Can someone bid when they need to get finance?

Because interested parties must be in a position to bid on a cash unconditional basis at the auction, they are advised to organise pre-approval through their bank or mortgage broker to bid up to a price they are prepared to pay.


Can someone bid when they have a property for sale?


There are two options:


What if my property doesn’t sell?

If the reserve price is not reached, the property is passed in to the highest bidder. The highest bidder is then offered the first right to purchase the property immediately after the auction at the client's reserve price. If a sale is not completed immediately following the auction, the property will be offered for sale to all other interested parties.



Whether you are considering buying or selling, looking for advice before you undertake renovations, are curious about current market conditions or just want to know what the house down the road sold for - Raewyn is happy to help.

Raewyn Easton
M  027 436 2600P  06 351 2812

Send me your enquiry

ASAP  ASAP  ASAP  ASAP  0-2 months  0-2 months  0-2 months  0-2 months  3-6 months  3-6 months  3-6 months  3-6 months 
Yes  Yes  Yes  No  No  No 

Privacy Statement

Property Brokers Ltd MREINZ acknowledges and complies with the provisions of the Privacy Act 1993 and its amendments. In particular Property Brokers policy covers the following specific points relevant to this topic and this website:

Any client information you provide to Property Brokers will be used only for the purpose for which it is given and will not be passed on to any third party except in accordance with the law, or with specific consent.

In the main, this will be to facilitate company communication with you in order to better meet your real estate objectives and expectations.

Information provided by you will remain confidential to Property Brokers Real Estate Ltd MREINZ. This particularly applies to your reasons for selling which we regard and treat as a personal and private matter.

Any information divulged by you to any other website linked to the Property Brokers website is given at your discretion alone, and Property Brokers takes no responsibility for any disclosures that might result.

Information provided on this website is copyrighted to Property Brokers and may be accessed, downloaded and used for personal use only. The material must not be modified, copied or reproduced for gain or commercial use without the consent in writing of Property Brokers Real Estate Ltd MREINZ.


Google disclaimer

This website uses Google Analytics to help analyse how users use the site.

The tool uses "cookies," which are text files placed on your computer, to collect standard Internet log information and visitor behaviour information in an anonymous form.

The information generated by the cookie about your use of the website (including your IP address) is transmitted to Google. This information is then used to evaluate visitors use of this website and to compile statistical reports on website activity.

We will never (and will not allow any third party to) use the statistical analytics tool to track or to collect any Personally Identifiable Information of visitors to our site. Google will not associate your IP address with any other data held by Google. Neither we nor Google will link, or seek to link, an IP address with the identity of a computer user.

You may refuse the use of cookies by selecting the appropriate settings on your browser, however please note that if you do this you may not be able to use the full functionality of this website.

By using this website, you consent to the processing of data about you by Google in the manner and for the purposes set out above.

This website uses Google AdWords

This website uses the Google AdWords remarketing service to advertise on third party websites (including Google) to previous visitors to our site. It could mean that we advertise to previous visitors who havent completed a task on our site, for example using the contact form to make an enquiry. This could be in the form of an advertisement on the Google search results page, or a site in the Google Display Network. Third-party vendors, including Google, use cookies to serve ads based on someones past visits to the [CLIENT NAME] website. Of course, any data collected will be used in accordance with our own privacy policy and Googles privacy policy.

You can set preferences for how Google advertises to you using the Google Ad Preferences page, and if you want to you can
opt out of interest-based advertising entirely by cookie settings or
permanently using a browser plugin.

Raewyn Easton