The checklist below provides a quick reference guide to what you will need to successfully list a property and host an auction on Sale Ezy.
A contract for the sale of the property. The solicitor or conveyancer of the property owner will prepare a contract for sale -- you will need this to list a property for auction.
Price comparisons. Agents are required to upload the price comparisons they are using to inform their estimated selling price. This document will not be shared with any other user, and is just stored, privately by Sale Ezy, as a means to ensure all agents are correctly researching and evaluating their prices, and not under-quoting. If audited, Sale Ezy can inform the relevant state body that you, as an agent, undertook the required research and justified your pricing to your vendor.
5 high resolution photographs of the property. We highly recommend using a professional photographer but you can take the photos yourself. You will need to choose one image to be your main display image -- the first image people see -- and at least four other shots of various parts of the property. If the property is rented, photographs of the area can be really helpful in assisting potential buyers to better understand what the location has to offer.
Two open house dates. Sale Ezy requires every property to be open for inspection at least twice (the more, the better!). If selling a property or blocks, agents have had great success (and streamlined their process), by offering two open days when all potential buyers can visit. If all inspections must be booked, we suggest clearing two dates with the tenants or owners and offering those dates for private inspections to meet the two open house requirement.
5 simple and clear property features. Think about listing fixtures, storage and additional garaging or improvements, pools, landscaped gardens - the features that make the property most attractive to a buyer. If the property is land, listing the size here is a great idea. The first noted feature is the expected selling price, this is not mandatory.
A minimum bid. The minimum bid is the amount under which a bid/offer will not be included in the auction; it helps ensure auctioneers don't waste time considering bids that aren't serious contenders for buying, and also that buyers don't feel cheated or misled by a low bid displayed on the property. As an example, if the minimum bid is $800,000, and a bidder tries to submit $50, it will be automatically rejected as it isn't in the best interest of the auctioneer or vendor. Set your minimum bid around the lower end of your ESP, but within range of a reasonable number of bids bringing the price to reserve.
A reserve price. The reserve price is the minimum price your vendor will accept to sell the property -- once bids reach the reserve price during final call, the property is for sale. In some states, you will be required to have the vendor's agreement to the reserve in writing. You can set a '0' reserve, but remember, that means the property can sell for any bid above your minimum bid during final call.
Final call and Best offer periods. Sale Ezy auctions can include an elongated auction stage during your promotional period (run it for the entire three weeks or more!) called best offer, that leads into a faster, shorter auction stage called final call.
Best offer is optional, you don't have to use it. Final call is mandatory, and we recommend running it for around an hour.
Set your start date and time for final call in your listing form. Final call closes when First Call starts (like in a traditional auction), so set First Call to start around an hour after final call starts.
If you choose to start your auction with best offer (it's a great market testing tool and you may sell the property early!), set your best offer start date in the listing form. Best offer will pause three days before final call starts so you have a chance to consult with your vendor to see if they want to change the reserve price before final call starts.
Best offer also automatically kicks in after final call if the property doesn't sell and remains active until the property is sold.
A solicitor/conveyancer. You'll need to enter the details of the owner's solicitor as they will be sent sales advice when the auction concludes.
The vendor's licence or passport. We are very big on security and avoiding fraud at Sale Ezy, so our system includes several measures to check all users. Our trusted third party specialist (used by many major Australian banks and finance organisations) will use the vendor's licence or passport details to verify the owner's ID -- which helps keep agents, owners and buyers protected.
Forms or audio as required by your state or territory. Some states in Australia require certain forms or information (other than the contract) to be made available before auction. You can upload these forms into the documents section in the Sale Ezy listing form for public display. If you are in WA and require an audio read of conditions or specific forms, you can simply record it into your phone and upload it into the documents section as an mp3. If you aren't confident recording, just send it to your Sale Ezy support partner and they will read, record and upload the file on your behalf.
A building and pest inspection by a qualified inspector. In some states in Australia, vendors are required to provide a building and pest report for interested buyers, while in others, bidders must have the inspection done themselves.
You can upload a building and pest report into the documents section of the listing; we recommend removing any of the vendor's personal details.
A property video. You may choose to upload a video of the property or a 3D tour using Immoviewer (eac.com.au). A strong video can increase the potential for a property to sell at or above the price you expect.
A floor plan. You can do this yourself and it's a great way to help potential buyers better understand the layout of the property. Most professional photographers also include this in their package.
Expected selling range. In some states in Australia it is required that the auctioneer or agent makes available a price comparables report or indication of expected selling range before the auction. In other states, it is illegal for an agent or auctioneer to provide any indication of expected selling range prior to auction. It is your responsibility to know the rules and regulations in your state or territory.
Within the Sale Ezy listing form, there is a field for 'expected selling range'. If your state does not require or ban this, it is your choice as to whether you fill it in. It will be displayed for anyone who sees the page. Please be aware that in some states, if you reject a bid during Best Offer, you may be required to adjust your expected selling range.