Auction Etiquette 101: Everything You Need To Know
We’ve seen a huge amount of auctions taking place over the last few months, with thousands of Sydney residents either buying or selling a home.
Despite these huge numbers, the auction process itself can still be a little bit intimidating and confusing, especially if you’re not used to the ins and outs of the process. Just as importantly, there are a few fundamental rules of etiquette that you need to keep in mind when attending an auction.
At the core of these rules lies the simple fact that selling a property is a business scenario, and from the auctioneer to the agent, many of the people there will be working. To show respect for the process, we’ve put together a list of the most important things to keep in mind, regardless of whether you’re buying, selling or simply dropping in to see how the market is performing.
Prepare the kids, and leave the pets at home
Most auctioneers won’t take too kindly to having to compete with a barking dog, so make sure to either leave Fido at home or have somebody wait outside with him. It is okay though, to bring your kids along, but you do need to let them know what might happen. They’ll need to be on their very best behaviour, and as much fun as it might look, let them know not to put their hands up during bidding. Their pocket money might not be enough to cover the purchase!
Keep quiet during the auction
Of course, it’s not just children or pets who can disrupt proceedings. It’s perfectly okay to talk quietly before bidding starts, but once the auction is properly underway, you should be quiet and respectful. There’s valuable information that buyers will need to hear, and if you make this difficult you could make it necessary for information to be repeated. If you’re really disruptive, you could even face a fine, although this is very rare. As a general rule, if you’re not bidding you should remain a silent observer and make sure not to involve yourself in the process.
It’s okay to be curious
Speaking of not bidding, it is perfectly acceptable to attend an auction if you have no intention of bidding. There are plenty of reasons why you might do this, from general curiosity to a more particular interest in how a certain suburb is performing. This could be to gain a bit of knowledge before buying or selling a property of your own, and agents will completely understand your presence. Even so, you should take care not to get in the way of legitimate buyers, and if there’s an issue of space, you’ll simply have to stand at the back.
There’s absolutely never a reason to argue with the auctioneer or other bidders.
Don’t be a sore loser
Auctions are about several parties competing with each other, but it should always be friendly and respectful. There’s absolutely never a reason to argue with the auctioneer or other bidders, and if things don’t go your way and you get outbid, it’s crucial not to be a sore loser or make a fuss. The process is designed to be as democratic and diplomatic as possible, so even if you feel slighted by an unexpected bid from a phone buyer, you have to keep in mind that they did register and are eligible to put in an offer.
These are the essentials to keep in mind, but ultimately you should just remember to be polite and accommodating. If you can do that, then you’ll be well on your way to complying with auction etiquette. For more information about the process itself, contact Laing+Simmons today.