AUCTIONS - LOVE THEM OR HATE THEM

Interesting that there is so many views about them.

Personally I think they are good for everyone.  The buyers get nervy about bidding but seriously you can see who you are bidding against, what I would feel nervous about if the agent rings you because you have indicated you are interested (and you should) because they are writing up an offer to present to the owner.  That is the time you have no idea where the price is at as it's not being offered all you will be told is you have to put your best offer in at the start.  Happens unfortunately that buyers think that the agent is hmmm not telling the truth, I feel sad about that as it doesn't give us a good name but with Vivian's if you get that call you better believe it.  Personally I like to take it to Auction however if a really good offer comes in it's not about the agent it's about the Seller and you have to do what's best for him/her.

Buyers get mad when the agent wont say what the reserve is - well the reserve doesn't get set until the night before or on the day.  The reserve generally get's set on the feed back from the buyers that have come through the home open.  What the agent should do however is give you a list of properties that have sold recently in the area so you can get some sort of an idea.  You should also indicate what buying price range you are in so if you are way off then the agent should tell you that.  Nothing worse than baiting a buyer.
I have always encouraged young people to come and practise at an Auction so they can go through the motions and feelings of what it is like so that when you do go to the auction of your choice you are prepared and not so nervous.  Believe me you feel like your heart is jumping out of your chest and you feel like everyone is looking at you - having bid at several Auctions I remember the feelings very well.  Don't get me wrong it's very exciting as well and you definitely should know what your STOP point is so you don't get carried away.

The Seller get's stressed what if it doesn't sell what will people think.  Remembering that Auction is a three stage selling process.  You have the chance to sell prior to Auction, on the day or they usually sell within 10-15 days afterwards, still very short of the current days on market which can be up to 90+ days.
Receiving an offer before the auction should be a cash offer and a good price to stop the auction, its a shame that many of the buyers don't want to participate in putting an offer in their very best offer, they will either win or lose it just the same as if you were at the Auction.

The Agent: well it can be very stressful for them as well, however if they do the required work it should all fall into place.  The main thing is to keep all buyers in the loop that have expressed interest.  Ringing back all buyers that have come through and making sure they don't have any interest.  Many times I have talked with buyers who absolutely hate auctions and the reason why - they would have put an offer in before the auction if the agent had rung to ask them.  Now they say that they have told the agent they are interested cannot guarantee that of course but if you dealt with Vivian's and said you had interest you would be getting calls and that's a guarantee.

It's interesting that some agents don't believe in the Auction process saying that it's under selling or putting the owner under duress to sell on the day - no we don't do that either there is a price point of selling and only if it's close and the Seller is asked did they want to go on the market at that point that is their choice.  Trust is a big thing so when you choose an agent just remember that if you don't trust them then don't use them.

Mortgagee Auctions are the ones to go for as the banks just want them sold different scenario. 

I suppose because I have been trained in Auctions I don't fear them, I know the work load is intense and its a whole 2-3 months crammed into a 4 week programme so its masses of work however if all parties agree on that method its an excellent way to sell your home. 
Just don't do what I did give yourself 4 weeks to sell and have to sell on the day not a good idea - you learn by your mistakes I guess but I still believe in the Auction process.

MAKE YOUR OWN DECISIONS AND GIVE IT A REAL GO !!