Understanding how Auctions work

A property auction is a fast-paced, public sale. The property is sold to the buyer with the highest bid after the seller’s reserve price is reached. Auctions bids are open so you know what everyone else is bidding. If you haven’t been to an auction before, it’s a good idea to attend one as a spectator so you can see how they work.

Guiding Kiwis through home buying and selling

Our aim is to promote and protect the interests of consumers involved in real estate transactions, and to promote a high standard of professionalism and service in the real estate industry.

[wenduralph]

So clear and straightforward. Thanks so much😄

[CamilaElla-cb]

I am learning so much from watching your videos. Thank you so much for sharing this amazing source of information. This one is quite helpful.

[roxwize]

I always think that if an item not as expensive as a house was being sold on eBay, what would keep people from bidding really low and just slowly rise up? I imagine it’s because setting the price higher will make your chances of actually getting the item even more than before but would you really risk paying so much for an item such as the one you’re purposing??? Sorry, I know basically nothing about how these work. Very informative video either way

[mahabubarrahaman]

Is there anyone who belong to auction House.. Need information regarding high return investment..

[WendyMiami]

basically auctions make no sense . Properties should only be listed at an specific price. that's it!!