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After the Auction

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  • After the Auction

    After an auction has passed in, and a property has reverted to a General Listing, is the general listing normally for a fixed period (one month, three months etc.) like a normal listing, or is it 'unending' until notice is given by one party or the other.

    In particular, this was a Harvey's Auction.

    Thanks

    cube
    DFTBA

  • #2
    After an auction the agency is still likely to hold a sole agency for a time. Auction campaigns are usually 3- 4 weeks and sole agencies are usually anywhere between 30 -90 days . If it does roll over to a general, then in my experience, it is unending until notice is given.
    Jo Birch
    Looking for someone to manage your next project or event? Then call now!
    +61 450 148 678

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    • #3
      it's specified in the agreement. anything up to 90 days including the auction period is standard but usually continues to be exclusive for a period after the auction then subsequently general

      let me clarify. is it still exclusive or you're saying your exclusive has expired?

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      • #4
        If you read the agency listing you will note that many of them say that a general listing only expires upon written notice from the vendor. Many do not realise this as they don't bother the read the form which is a binding contract.
        An exclusive agency normally reverts to a general agency upon the termination of the agreed time frame and the general continues until notice is given. It's all on the contract.
        Just because it is there doesn't mean you have to agree with it but make sure you change the listing form prior to signing it.

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