Auction question

[Crane]

Hi
I know this is a really basic question but do you pay an auction fee if the property is not sold on the day.
Thanks

 

[josko]

hi Crane,

In NSW, all the costs are upfront. You pay for the signage and the auctioneer upfront. if it does not sell, which is in no-ones interest you are up for nothing except disappointment!

Regards JO

 

[Jason Rose - AD]

Are you talking about the advertising or the auctioneers fee?

If it is the auctioneers fee, then most professional auctioneers will charge their fee whether the property is sold prior to auction, at auction or is passed in.

Whilst a good quality auctioneer will achieve you as the seller a premium price or through there experience and negotiation skills get the property sold,
they have no control over the process if the agent has not done the job throughout the marketing campaign to attract buyers interest and have bidders at the auction in a position to bid and purchase the property.