Episode Details
Back to EpisodesEverything Agents Need to Know About Timed Auctions with Jake Mackenzie
Description
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We explain how to run a compliant, effective timed auction and what agents must have in place before going live.
• understand that a timed auction is legally an auction and governed by state legislation
• ensure a licensed auctioneer oversees the process, even though it’s digital
• set a starting bid that opens the auction, separate from the reserve
• establish minimum bid increments to control momentum and buyer behaviour
• secure a signed reserve letter before launching the auction
• register all bidders in line with legislative requirements
• upload and display contracts, reports, terms, and compliance documents
• use the platform’s timer flexibly to shorten or extend the auction when needed
• communicate actively with buyers and vendors throughout the campaign
• leverage digital notifications, follower tracking, and bid visibility to drive engagement
A practical guide to running timed auctions that combine legal compliance, smart pricing strategy, and digital efficiency to sell property faster in a changing market.
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