How much does an auctioneer cost in 2024?
If you're selling your home or investment property, going to auction and using an auctioneer has likely crossed your mind. A good auctioneer can mean the difference between a successful sale...
An auctioneer is a licensed professional trained to conduct auctions, which are public sales events where items such as properties are sold to the highest bidder.
An auctioneer is a licensed professional trained to conduct auctions, which are public sales events where items such as properties are sold to the highest bidder. They’re responsible for both maintaining order, adherence to auction rules, tracking bids from buyers and ultimately ensuring a fair and transparent auction process.
Depending on the auctioneer you use and where you might be located, the cost for an auctioneer can range anywhere from $400 to $1000.
Should you encounter an auction service labelled as ‘free’, it's crucial to be aware that the costs are typically factored into the commission paid to your real estate agent. Before opting for an auction for your property, it's advisable to check with your agent whether the auction service is included in the standard commission or if there are additional charges.
Auctioneers reserve the right to refuse a bid in some instances when selling a home. Some scenarios where auctioneers might reject a bid include an insufficient bid amount where the bid does not increase by the appropriate increment.
Is now a good time to sell? Talk to a top agent about market performance in your area.
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