Tips for Handling Phone Bidders at Auction

  • Make sure that you have their authority in writing to bid
  • Ensure the buyer has received a complete copy of the Conditions of Sale and a copy of the title and other associated paperwork.
  • Ensure they comfortable with what you have provided, and do they have any questions • Have the complied with the REAA 2008 Act requirements
  • Ensure that the buyer is near a fax or email for signing of the contract if they are the successful buyer
  • How is the deposit being paid? Ensure they are clear that they will need to pay this immediately they become the successful bidder.
  • It is preferable that they on the phone during the auction. If so, are they calling you or you calling them? Ensure you can contact them.
  • Who is handling the buyers on the day if you have more than one buyer?
  • Disclose to the auctioneer your authority and its contents. Give a copy to the auctioneer
  • During the auction it is advisable to bid clearly
  • Stand with the crowd, maybe to the side
  • If the buyer stops bidding, try and keep them on the phone. If they do not wish to stay on the phone and are hanging up, establish that you are not calling them back, and that they are finished with bidding.
  • If your buyer is the successful buyer, establish again that the contract is coming immediately for their signing and that they need to return the contract immediately to you once they receive it.
  • Ensure that the buyer then send via post or courier all pages that they signed so that the original can be forwarded to the purchaser solicitor.
  • Attend to the deposit
  • Finalise the transaction report and other associated paperwork.

Download ...