A typical auction campaign moves through preparation, launch, inspection and buyer qualification, a final reserve discussion, auction day and either contract or post-auction negotiation. The number of weeks is not guaranteed. Each stage should have a seller decision, current price check and buyer follow-up task, while Victorian auction rules and the contract control the legal process.
Before launch: appoint the team and prepare the legal pack
The campaign clock should start only after the seller understands the sales authority, marketing costs, auction booking and proposed date. Complete the agreed preparation, photography, floorplan and copy. The conveyancer or legal practitioner prepares or reviews the contract and Section 32 statement, while the agent completes the Statement of Information and checks that the estimated selling price and any advertised price comply with current Victorian requirements.
Agree the inspection calendar, reporting times, pre-auction offer instructions and decision-makers. Discuss what would cause a change to the estimate or campaign and how the property would be handled if it passed in. A pass-in plan is not pessimism; it prevents important negotiations from being improvised under pressure. Timeframes for suppliers and documents vary, so the launch date should adapt to readiness.
- Approve accurate campaign material and document access.
- Confirm the auction date, place, auctioneer and seller contacts.
- Record pre-auction offer and pass-in instructions.
Launch phase: expose the property and establish a baseline
At launch, test every live asset and respond to buyers promptly. The first purpose is reach, but the more useful purpose is to identify relevant buyers and give them enough information to investigate. Record portal and direct enquiry, inspection bookings, contract requests and property questions separately. Do not count repeated automated activity as buyer depth.
The first inspection report should distinguish attendance from intent. Which buyers have reviewed the contract? Who needs another inspection? Which comparable homes are they considering? Are there recurring questions about condition, settlement or a property feature? Correct factual confusion quickly. Strategic changes should follow a pattern of evidence, not one isolated comment.
Middle phase: qualify interest and recheck the campaign
As the auction approaches, follow up each credible buyer with a clear next step. Encourage legal review and any building or finance enquiries early enough for the buyer to make an informed decision. The agent can ask whether a buyer expects to bid, but an intention is not a registered bid or a guarantee of attendance. Report levels of engagement honestly to the seller.
Revisit comparable sales, current competing listings and the estimated selling price. If that estimate ceases to be reasonable, Consumer Affairs Victoria requires the seller to be informed in writing and the sales authority and advertising updated. A rejected written offer can also affect advertised and indicative pricing where the rejection is based on price. Compliance checks should run throughout the campaign, not only at launch.
- Contract review and due-diligence progress
- Repeat inspections and direct questions
- Written offers and reasons for seller decisions
- Current pricing and Statement of Information review
How should pre-auction offers fit the timetable?
If the seller agrees to consider pre-auction offers, establish the process before one arrives. Consumer Affairs Victoria says negotiation generally follows the private-sale process. Review the signed or written offer, deposit, settlement and all terms, then compare it with campaign evidence and the seller's priorities. Contact other engaged buyers accurately if they will be given an opportunity to respond.
Accepting early trades future exposure for the terms available now; continuing retains the auction pathway but does not guarantee a higher result. If an offer is accepted less than three clear business days before the scheduled auction, Consumer Affairs Victoria says the buyer does not receive a cooling-off period. Other cooling-off and contract questions should be referred to the seller's legal adviser.
Final week: turn feedback into reserve instructions
The reserve is the lowest price at which the seller is prepared to sell at auction. It is not the agent's estimated selling price, advertised price or a guarantee of bidding. The final discussion should bring together comparable evidence, written offers, buyer engagement, seller priorities and contract terms. The seller decides the reserve after receiving advice and should give clear instructions through the agreed process.
Confirm auction-day access, property presentation, bidder information arrangements, seller location, communication with the auctioneer and signing process. Victorian auction rules and an information sheet must be displayed for at least 30 minutes before the auction. The auctioneer must make prescribed announcements, including whether vendor or co-owner bids may be made. These legal requirements belong to the auctioneer and agency process, not to a promotional script.
- Written reserve and authorised decision-makers
- Auction rules, information display and contract copies
- Property access, staffing and bidder arrangements
- Instructions for on-market and pass-in discussions
Auction day: understand on market, sale and pass-in
If bidding reaches the reserve or another price the seller agrees to accept, the auctioneer may declare the property on the market, meaning it will be offered to the highest bidder. If bidding does not reach the reserve and no lower price is accepted, the property may be passed in or withdrawn. The highest bidder has the first right to negotiate with the seller after a pass-in, including where the last bid was a vendor bid.
Consumer Affairs Victoria states that the property is sold when the successful bidder and seller have signed the contract. A buyer at auction cannot make the contract subject to conditions and has no cooling-off period. Deposit arrangements and any contract changes should be handled with the seller's legal adviser. The fall of the hammer is important, but the campaign team must still complete the contract process accurately.
After the auction: contract or a defined next campaign
After a sale, confirm signed copies, deposit arrangements, settlement contacts, property access and the pre-settlement plan. The legal practitioners or conveyancers manage the transfer and contractual steps. The property must be maintained in the required condition, and the buyer is entitled to a reasonable pre-settlement inspection in the week before settlement.
After a pass-in, give the highest bidder the required first opportunity to negotiate, then assess other interest if no contract follows. If the property remains unsold, reconsider price, feedback, competition, presentation and method. It may move to private sale or be withdrawn. Marketing and auctioneer expenses may still be payable according to the authority. Set a dated next step rather than leaving the property in an undefined post-auction state.
Questions sellers ask
How long is a typical auction campaign?
Campaign length varies with supplier lead times, documents, buyer depth, property complexity and the chosen auction date. Use the stages as a framework, not a guaranteed number of weeks.
Is the auction reserve the same as the advertised price?
No. The reserve is the seller's lowest auction sale price. The estimated selling price and advertised price have separate Victorian requirements and may differ from the reserve.
What happens if the property is passed in?
The highest bidder receives the first right to negotiate with the seller. If no sale follows, the property may be offered by private sale, repriced, withdrawn or given another defined strategy.
Can an auction buyer make the contract subject to finance?
Consumer Affairs Victoria says a buyer at auction cannot make the contract subject to conditions. Buyers should complete their legal, finance and building enquiries before bidding.
Talk to Jason about the property
Jason can turn the stages into one practical plan with decision dates, responsibilities and professional hand-offs made clear.
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