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Key tips for the Final Bidding Stage

Modified on: Fri, 28 May, 2021 at 1:48 PM

  • Buyers who are do not have a bid approved BEFORE the Final Bidding stage starts, will not be able to participate.
  • If you are confident of being Sold/Under Offer at the fall of hammer, allow Registered Interest to watch the negotiation. Then, invite as many people as possible (especially future sellers) to watch!
    Tell your seller to invite their friends and family to watch as well. Bidders will see the number of intested users, so a big number enhances the perceived value of the property. Plus, you have a nice list of people to call and offer an appraisal!
  • If you do not feel confident, do a practice-run in the training environment. Get a sense for how to pause, change the reserve and change the minimum bid increment and experience the auto-increment feature
  • The Auto Increment adjustment feature should be used! Click here for details
  • Try not to pause, and if you do, keep the time to a minimum. Delays take away the excitement and adrenaline
  • If a buyer tell you they are 'out', ask them why, and let your seller hear them doing so directly on speaker. This will be very powerful in terms of educating the seller and getting the reserve down
  • Don't consider passing in to be a failure if you have met more buyers than you otherwise would have and/or adjusted the expectations of your seller

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