How to participate in an online auction
Posted by Chloe Hardie - 20 July 2020
Posted by Chloe Hardie - 20 July 2020
Going virtual is not something we as a society are unfamiliar in these uncertain times, however, when it comes to online auctions, we want to make sure our bidders are well informed and ready to roll come auction day. So, to prepare any house hunters whose dream homes are going under the hammer while we are in lockdown, we have put together a step-by-step guide on what you’ll need to do to be online auction ready.
1. Contact the agent of the property you are interested in purchasing to gain the auction registration details.
The most important person to contact if you are interested in participating in an auction is the listing agents. Once you have notified them that you are interested in participating in the online auction, they will send you a registration link that you will need to fill out in order to participate in the online auction. You may also receive this link from the agent after inspecting the property.
2. Register to attend the online auction, and read the auction terms & conditions.
In order to participate in an online auction, you must register your attendance using the link provided by the property’s listing agents. Our auction registration links expire 15 minutes before the auction commences, so if you are interested in bidding be sure to register in advance.
To register you must input details such as your name, address and phone number. You will also be asked to assign yourself a paddle number. Remember this number as you will be required to know it when you attend the online auction.
Additionally, you will also need to email a copy of identification such as your licence or passport to the listing agents prior to the auction
Before you complete your registration, you will be asked to agree to the auction terms & conditions . Make sure you are familiar with these before you attend on the auction day. If you have any questions regarding the terms & conditions, get in touch with your listing agents prior to the auction who will be happy to answer any of your questions.
Once you have registered you will be sent the auction details so you can access the online auction come auction day.
3. Click on the auction link to gain access 20 minutes before it is scheduled to start.
To arrive at the auction, click the link you would have received after completing your online registration. You do not need any special apps or programs to attend the auction, and you can use your phone, tablet, laptop or desktop computer to participate.
It is recommended that you arrive to the auction online waiting room 20 minutes before the auction’s official commencement time. This will allow you time to ensure you have no technical difficulties, and that if they do occur you can flag it with the listing agents before the auction starts so they can assist you.
4. Start bidding!
Now for the exciting part - bidding!
It is important you know your paddle number before the auction commences. The auctioneer will ask you to confirm your paddle number before commencing the auction and taking bids.
5. Auction outcome
If you have the winning bid and the property has been sold to you, the auctioneer will ask you to stay on the online auction link to discuss the details. If you were not the successful bidder, you will be asked to leave the auction link.
Have any questions? Get in touch with your local Buxton office to discuss how online auctions work, and find out whether they have any upcoming auctions you can register to attend.
