Timed Auctions
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Timed Auctions
An Open, Transparent, Process-Driven Sales Strategy !
The Auctions Live Timed Auction Solution (ALTAS) offers unrivalled transparency along with an automated sales strategy designed to maximise results for properties that would traditionally be for sale using the private treaty sales method.
With Timed Auctions, buyers actively compete for property ownership over a fixed period ranging from 60 minutes to over 60 days.
Timed Auctions are a high powered, process-driven sales strategy compared to traditional Private Treaty campaigns. When executed correctly, they can add tremendous momentum and attraction to a property, creating competition and removing price barriers, resulting in a true market value sale in a shorter time.
An Open, Transparent, Process-Driven Sales Strategy!
Auctions Live's Timed Auction Solution (ALTAS) offers unrivalled transparency along with an automated sales strategy designed to maximise results for properties that would traditionally be for sale using the private treaty sales method.
With Timed Auctions, buyers actively compete for property ownership over a fixed period ranging from 60 minutes to over 60 days.
Timed Auctions are a high powered, process-driven sales strategy compared to traditional Private Treaty campaigns. When executed correctly, they can add tremendous momentum and attraction to a property, creating competition and removing price barriers, resulting in a true market value sale in a shorter time.
Key Advantages & Benefits
Why list a property for sale as a Timed Auction?
- Demonstrate and offer prospective sellers a transparent and open way to transact real estate.
- Keep both sellers and buyers informed and involved throughout the Timed Auction.
- Present a true and accurate record of accepted bid activity.
- Pre-qualify buyers before the Timed Auction commences and during the auction process.
- Educate your sellers before and during the Timed Auction whilst having the ability to assess and readjust the sellers' reserve prices based on buyers' interest and interaction.
- Transparent way of transacting property allowing the agents to build a trusted relationship with buyers.
- Create competition within the market, eliminating and removing any doubt of "did I achieve the best price for my clients".
- Fixed time sales process, creating a sense of urgency to buyers, allowing agents to achieve results faster.
- Save time having to submit multiple offers to sellers in writing.
- Automatically keep buyers informed of all accepted bids in real-time.
- Unconditional sales process, minimising the concern of the sale falling through.
Why sell your property through a Timed Auction?
- Sellers can remain informed and involved throughout the sales by embracing a 100% transparent and open process.
- Agents can pre-qualify buyers before the Timed Auction commences and during the auction process.
- Sellers can nominate a reserve price.
- Option for sellers to update their reserve price with their agents and auctioneers during the Timed Auctions.
- The Timed Auction sales strategy presents the possibility of selling within fewer days on the market than private treaty sales.
- Unconditional sales process, minimising the concern of the sale falling through.
- Sellers don't need to wonder if they are getting the best price for their home.
Why buy a property through a Timed Auction?
- The buyers know they are competing against other pre-qualified buyers and that the competition is real.
- The buyers can recognise and know what competing parties are prepared to pay, providing confidence in the property's true market value.
- The buyers can bid with confidence, awareness, consideration and certainty by knowing what is happening in real-time.
- Uncomplicated user experience with no need to submit offers in writing.
- The buyers can bid from anywhere, in the complete comfort and privacy of their surroundings.
- The buyers can experience less pressure compared to the traditional sale processes.
- Increased time-span, providing buyers with the opportunity to seek advice from trusted advisors.
Open, Fair & Transparent Competition!
Allow buyers to bid at their own pace within a specified time frame, providing yourself with ample opportunity to stimulate competition
Property Images
Auction Start & End Time
Live Bid Activity
Bidder Login
Enquiry Form
A Strategy Designed to Work in Everyone's Favour!
Compared to traditional private treaty sales, Timed Auction technology enables real estate agents to serve both sellers and buyers better whilst providing a transparent experience from start to finish
How Timed Auctions Work
- Agents will upload the property to Auctions Live and set the parameters of the Timed Auctions, including:
- Auction Start and end date
- Starting bid amount
- Reserve price
- Buyers can register to bid on the property via the real estate agents website before or after the Timed Auction begins.
- All buyers will be pre-qualified, have their identification verified, and approved by the agents before they can place a bid.
- Approved buyers can commence placing bids; bids must exceed the starting bid amount.
- Agents can pause the Timed Auctions to negotiate with the sellers and buyers.
- If a property has not been announced as "On the Market", sellers will have the opportunity to adjust the reserve price in consultation with their agents and auctioneers.
- When a bid is placed in the last 3 minutes of an auction, the auction timer will restart to a full 3+ minutes.
- If the reserve price has been met and the timer expires, a property may be sold to the buyer that has placed the highest bid.
- Buyers can register to bid on properties via the selling real estate agents websites before or after the Timed Auction begins.
- The selling agent will be required to pre-qualify, verify and approve buyers before they can place a bid.
- The potential buyer can commence placing bids.
- The property will be announced "On the Market" once the reserve price set by the seller has been met.
- If a bid is placed in the last 3 minutes of the auction, the auction timer will restart to a full 3+ minutes.
- If the reserve price has been met and the timer expires, a property may be sold to the buyer that has placed the highest bid.
- The agent will be required to appoint an Auctioneer to manage Timed Auctions.
- Upload the property to Auctions Live and set the parameters of the Timed Auctions, including:
- Auction start and end date
- Starting bid amount
- Reserve price
- Every time a buyer registers to bid on a property, the agent will be required to pre-qualify them, verify their identification and approve them to bid online.
- Once a Timed Auction commences, approved buyers can start placing bids.
- Appointed auctioneers will be responsible for administering all bids.
- If a property has not been announced: "On the Market", sellers will have the opportunity to adjust their reserve price.
- When a bid is placed in the last 3 minutes of the auction, the auction timer will restart to a full 3+ minutes.
- If the reserve price has been met and the timer expires, a property may be sold to the buyer that has placed the highest bid.
High Touch - High Tech - PropTech
Enterprise-Grade Auction Solution for Commercial, Industrial, Residential & Rural Real Estate
Timed Auction Solution Key Features
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| PC Management Console | |||||||
| Website Integration Widget | |||||||
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| Electronic Bidder Registration | |||||||
| Online Bidder Interface | |||||||
| Live Streaming | |||||||
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| Android TV App | |||||||
| System Automation Controls | |||||||
| Android & iOS Smart Device Console | |||||||
| In-Room Media Control Centre | |||||||
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| Auctioneers Booking Platform | |||||||
* Incurs additional charges
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For Real Estate Agencies, Auction Houses and Independent Auctioneers