How to add a Reserve Price to a Victorian listing

Before you start

Make sure you have:

• An existing Victorian auction or fixed-date sale listing.
• Access to edit the listing.
• The vendor’s Reserve Price, or the information needed to generate a Reserve Letter.

You don’t need to provide the Reserve Price to activate the listing. However, you must provide and publish it at least seven days before the auction or fixed-date sale.

Step 1: Open the Reserve section

1. Log in to Realtair.
2. Open the relevant Victorian campaign or property listing.
3. Select Sell.
4. Open the listing details.
5. Open the Reserve section.

The Reserve section is available for Victorian auction and fixed-date sale workflows, including Timed Sale and Private Treaty listings with an end date. 

Step 2:  Enter the Vendor's Reserve 

1. Enter the vendor’s Reserve Price in the Vendor’s Reserve field.
2. Check that the value has saved.
3. Return to the property checklist.

Realtair tracks the Reserve Price through the property checklist and displays it publicly when you provide a value. 

Step 3: Check the property checklist

Confirm that Provide Reserve Details appears in the Done section.

Also check that the following required items are complete:

• Property Price Statement attached
• Provide Price Guide
• Provide Reserve Details

Complete any item that remains in To Do before continuing.

Step 4: Check the public listing

After you save the Reserve Price:

1. Open the public listing page.
2. Confirm that the Reserve Price appears.
3. Check that the Price Guide appears.
4. Confirm that the Property Price Statement link appears.
5. Generate a new Share QR code PDF.
6. Check that the PDF reflects the same information as the public listing.

The Reserve Price appears publicly when you provide a value. It doesn’t appear when no value is available or when the listing is a Private Treaty listing without an end date. 

How do I generate and sign a Reserve Letter?

If the vendor hasn’t finalised the Reserve Price, you can generate a Reserve Letter and have the vendor sign it. Follow the steps in the new article:

How to generate and sign a Reserve Letter in a Victorian listing 

How does Realtair remind me about a missing Reserve Price? 

Realtair reminds agents when a Victorian auction or fixed-date sale is approaching and the Reserve Price hasn’t been provided.

• 10 days before the auction or fixed-date sale:  If the reserve price has not been provided, a reminder appears at the top of the Details page with an action button to add the Reserve Price. 
  
  
• 7 days before the auction or fixed-date sale:  If the reserve price is still missing, the 10-day message is replaced by a warning message with an action button to add the Reserve Price.
  
  
• Automated email reminder: Realtair sends an automated email to the Primary Agent and Conjunction Agents when the scheduled reminder runs and no Reserve Price has been provided. The reminder runs daily at 9 am Australian Eastern Time.
  

FAQs

Why can’t I enter the Reserve Price?

Check that:

• Vendor information has been supplied.
• The selected method of sale is an auction or fixed-date sale.
• The listing is not a Private Treaty listing without an end date.

Why is the Reserve Price warning still displayed?

The warning is not applicable after conversion to Private Treaty or Timed Sale.

1. Open the Reserve section.
2.  Enter the value in Vendor's Reserve. 
3. Save the value.
4. Return to the Details page and refresh it.
5. Confirm that the listing is still an auction.

Is the Reserve Price required before activation?

No. You can activate the listing without entering the Reserve Price. However, you must provide and publish it at least 7 days before an auction or fixed-date sale.

Can I generate a Reserve Letter without entering the Reserve Price?

Yes. The Reserve Letter is designed to help finalise the vendor’s Reserve Price. You only need to provide the Recommended Reserve Price and Reasons for recommendation to generate the letter.

When is the Reserve Price shown publicly?

The Reserve Price appears on Victorian auction and fixed-date sale listings when you provide a value.

It doesn’t appear when no value is available or when the listing is a Private Treaty listing without an end date.

Does the Reserve Price prefill from my CRM?

Yes. Realtair can prefill the Vendor’s Reserve field when your CRM provides a Reserve Price.

Review the prefilled value and confirm that it’s correct before continuing. If no value is available, enter the Reserve Price manually or generate and sign a Reserve Letter.