| This is a guide to help you list and market property for Auction. Print this guide before you start. | ||
| Please check the SITE FEES tab. Many options are extra cost. | ||
|
WHAT WORKS BEST: Use a very low starting bid (1/3 to 1/2 off the last "list price"). You need to get the bidding started. A low starting bid has no relevance to the final highest bid. A high starting bid can be very detrimental (bidding never starts). Place a disclaimer in the text that says the highest bid is subject to owner approval, or use a reserve amount.
MARKET the AUCTION: Property is not like selling a small item on a high volume auction website. Small items can be shipped. To sell property, you must market to people who are interested in your area and your property. Place information about your property auction in every online site you can find that is free or charges what you can afford. Direct them all to AgencyBid.com and let our software bring out the competition and end in a signed offer for your property (after you finish listing, the Offer Form for your property can be seen and printed under the Seller Information on the right side of the web page). The more bidders, the higher the price goes. Hold a couple of open houses. Place one Open House local newspaper ad just before the bidding ends (tell them that in the ad). Advertise your starting bid only. SIGNS are well know by real estate professionals to bring in the actual buyer quite often. We offer a set of four AgencyBid.com Auction signs for a very low cost. See SELLER FORMS to fax in an order for signs. They can be used to direct people to the property as well as on the property itself. |
||
| Step | Progress | Information Text |
| A | Register | Select Register from the tabs. Fill out the form and submit. AgencyBid.com will send an email to you. To complete the registration, you must click on the link. Your first login must be done through the link, that activates your account. This assures that no-one else can create an account using your email address. |
| B | Pictures | Organize your pictures into a folder that you can find easily. 10 picture maximum. Each picture is limited to 500 x 500 pixels, at 7 or 70% quality (this helps faster download for viewers: there is a 300kb size limit). If you need software to downsize your pictures, here is a link for free software, click on Free Resizer Software Download Now If you get an error while uploading pictures, it is best not to back up at this point to fix it (if you back up, the software may want you to pay again). Continue with the listing, pay the fees, then edit the auction and re-load the nine extra pictures. They must all be done again as a group (if any failed or you just want to replace one). The main picture is independent of the others. |
| C | Entry Data | Have your description and property details ready. The following sections go through the 7 Steps for listing property. Again, please print this for reference. Almost anything can be edited after you finish the listing steps. Just login, click on Selling in the members area and click on edit under the Options column. |
| Step 1 | SELL Button | Top Menu Bar, click on the SELL button. Please note, some features are cost items, they will say so, example (+5 USD) would mean $5 extra charge. Check the SITE FEES tab before you start the listing. |
| Main Category | Choose Property State, then choose the property type, such as Single Family or Condo. Click Next Step at the bottom right of the page. | |
| Step 2 | Second Category | If you want a Second Category, click on the state again, then the second category, such as Estate Sale or Waterfront. Click the Next Step at the bottom right corner. If you do not want this second category, click on No Thanks... above the States listing. |
| Step 3 | Item Details | Item Name: DO NOT USE A HEADLINE. The Item Name requires the full address. Format the text carefully as this becomes part of the Offer Form. Example: 39 Glades Rd., Boca Raton, FL 33433 |
| Description: you can type and edit the text using the tools provided. You could also copy and paste text from another source such as MS Word or your standard for sale listing. After listed you can change this text to add preview or open house times. Click on Next Step near the bottom of the page. | ||
| Step 4 | Auction Settings | Auction Type: choose Standard Auction
Auction Currency: choose USD Items Quantity: Choose 1, unless there are multiple units that are being sold as a group and priced individually. Please Contact Us if you have questions. Auction Starts at: This is the starting bid. Keep it low to get the bidding started. Reserve Price: this the minimum price at which the seller must complete the deal. Make Offer: If you choose Yes, then bidders can place a sealed bid that only you can see when logged in. The competitive auction bidding still runs at the same time. If a good sealed bid comes in, you can choose to accept it and cancel the competitive bidding. It usually make sense to wait until the end of the auction and see what is higher and who is more qualified to complete the sale. Choose any Offer Range you want. The high amount usually equals the mls list price. Featured Item: check of any items you want to help the property get noticed. Home Page Short Description: Enter a very short text to attract attention. Especially important if you chose Feature on Category Page above. Start Time: Use Start Now. Using a delayed start time is for experienced users. Impropper use may cause your property auction to malfunction. End Time: This is important. Consider the closing times for ads and other marketing. It is usually good to have three weekends for ads, then end the auction in the middle of the week. That allows a couple of business days for signing documents following the auction end. The time is military, 17:00 is 5 PM. Private Auction: if you choose Yes, then the bidders Username will be hidden from the viewing public. No is preferred. |
| Additional Information | The Top 32 fields allow you to relate details about the property to bidders. For example: Style, Rooms, Baths, Land, Sq Ft, etc. These fields are for display and do not affect the auction. You can format in any manner (make them look good) or leave any of them blank. Fields will expand to hold extra text, like the Directions field. Information does help the bidders. Some auctions leave almost all of this out. AgencyBid.com believes that sales are lost through lack of information.
The bottom fields listed below are very important. They are required fields (unless it says "leave blank"). The text is used to help create the custom Offer Form for each property. Please format carefully to make the Offer Form look professional. P&S Deposit Amount: format like this: $10,000.00 This refers to the Purchase & Sale Agreement, the controlling document of the property sale. Some states may use a differrent name. Buyer's Agent: if no amount is offered, enter: 0 (by entering 0, then the request for the Buyer's Agents info disappears from the Offer Form, do not use any other characters when 0 is needed). If you offer a commission, then format like this, 2% or Two Percent (any format can be used). Buyer's Premium: this is for use by Licensed Auctioneers only. Enter 0, just like the Buyer's Agent field. If you are an Auctioneer, you already understand how this works. If you enter Ten Percent (or any text, like Five Percent) then the Offer Form will state the purchase price will be equal to the highest bid plus the Buyer's Premium amount. It is recommended to use text only in this field, just to make the Offer Form clear. Offer Deposit: format like this: $1,000.00 Closing Days: format like this, enter a number only: 30 or 45 or 30-45 Fax Offer To: (for future use, leave blank) Offer Check Payable To: (for future use, leave blank) |
|
| Auto Relisting | Auto Relist: choose Yes if you want the auction relisted if the property does not sell. You can edit details and amounts after an auto relist. Auto Relist even if sold: choose No, unless there are multiple units that you want to auction one at a time. Number of Auto Relists: choose up to 5 |
|
| Auction Images | Upload Picture: this is the main photo. Use the Browse button to find the pictures in your computer. See the notes above on picture size. | |
| Picture Gallery: use this to upload up to 9 additional photos. If you later change one of these, you must upload all 9 again. You can start the auction first, then go back to upload pictures. | ||
| Media Upload | Upload: this is for property video (movie) content, AVI or MPEG limited to 1Mb. Do not try to put a still picture here. | |
| Location: | Country: choose from drop down list, default is US. If you are listing a property from a foreign country, please Contact Us first so that we can enter the country as a category for you, before you list the auction.
Zip Code: format like this: 33410 or 52341-1254 Click on Next Step: text at the top will tell you if something missing. This may take a minute or two since the pictures and media are being uploaded now. If an error is reported during this upload, one or more pictures may be over 300kb in size. It is best to continue with the steps below first, then go back to fix the pictures, after you auction listing is posted. |
|
| Step 5 | Payment | Buyer's Payment: click on Bank Check Only (required to continue).
Auction Fees: if you chose any extra cost items, they will be listed here. Terms of Service: please read and click on Next Step if you agree with Terms. |
| Step 6 | Auction Preview | Carefully check all of the auction settings, use Previous Step to adjust. If pictues need adjusting, edit later. Submit: when all is correct. The next step will include payment options if there is a cost. You will shortly receive an email that the auction was set up. |
| Step 7 | Finish | If there is a cost (for optional features) you can choose Visa, Mastercharge, American Express, or eCheck (you enter check routing and bank numbers). If you choose not to pay now (by clicking on Selling in the Members area), the auction will be listed (in your members area under selling), but it will not be visible to the bidders until you pay. |
| Editing | You can adjust most auction details (some items cannot be changed once you have received bids or it is too close to the auction end). Login, click on Selling in the Members area, click on Edit under the Options column at the right. | |