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Sales Auctions

Creating a Sale Auction Listing
Creating a Sale Auction Listing

Run an Online Sale Auction on your client’s property

Video Walkthrough

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https://www.loom.com/share/da1c1ece908e4489afc34b99bab98f88⁠

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Loading…⁠

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Step-By-Step Guide

1. Select property

From Land Manager

Click the Listings tab towards the top-center of the page.

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Now you should see the Listings tab highlighted. From here, click the yellow Create button on the right-hand side of the page,

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Click New Farm if you have not yet created this farm within GroundOS. If you have previously created this farm, click Existing Farm and select the relevant farm.

Click Next

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Use the interactive map to locate the parcels included in your Sale Auction. Search by City, State, County, Address, Zipcode, or Parcel ID to locate the parcels.

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Once you have found your parcel(s), select them by clicking on them.

If the parcels on the map do not accurately portray the property your are creating a Sale Auction for, use

Draw Mode⁠

by clicking the white box in the top-right corner of the map. Then use Draw Mode to draw the boundaries of the property. Click the first boundary point to close the shape and complete the boundary.

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You will see this pop up box appear with the question, “Is this a parcel used for hunting or recreation?”.

Select No and click Save. Repeat this step for each parcel.

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Once all of the parcels that make up the farm are selected, click Next.

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2. Select Land Use

You will now see the Common Land Units(CLUs) outlined in green within your selected parcels. These indicate separate land use types within the property.

Possible Land Uses include the following:

Tillable (Irrigated)

Tillable (Non-irrigated)

Pasture

Reserve Program (CRP)

Reserve Program (WRP)

Timber

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As you click each CLU, you will have the option of which land use type to assign it. Once you select a land use type, click Save and repeat for all applicable CLUs.

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Once each CLU has been assigned a land use type, click Done in the bottom right-hand corner.

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Select each Field on this page by clicking on them. Click Next

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On the Location page, click Next.

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On the Details page you can edit the Total acres and other acre values if they are not accurate. These are what will be shown on the listing detail page. The Total acres value will be the multiplier of the bid price if you choose to have bidders bid in the form of $/acre. At a later step you will choose to run the bidding at either Total price or $/acre.

Click the Add landowner box at the bottom of the page.

Add an existing contact as the landowner by clicking into the Search Contact box.

Or, click New contact to add a new landowner. Once you enter the details of your new contact, click Add contact at the bottom of the pop-up page.

Once a landowner’s name is showing in the Select landowner box, click Next.

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On the Listing Type page, select Sale, then Auction for the listing type.

Click Next.

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On the General Information page, you can edit the listing start and end date, add a listing description, add directions to the property, and enter any legal description, only as you deem necessary.

The Listing start date will always populate as today’s date to ensure that the listing goes live once you publish it. If you don’t want the listing to go live right away, simply edit the Listing start date field. This is different than the Bidding start date which will be covered in the following step. The listing start date can come before the bidding start date to allow for time to market the listing before opening up bidding. In these cases, the listing will be visible on CommonGround.io with a countdown clock to when bidding will begin. During this time bidders can register for the upcoming auction.

The Listing expiration date is when the listing will no longer be visible on CommonGround.io. A listing expiration date is not required, you may leave this field blank. This is not the auction end date. The auction end date will be entered at a later step in the listing creation process.

Once you have completed your desired fields, click Next.

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On the Pricing page, you have the option of setting the bidding at Per acre or Total price.

The Starting price is the lowest amount that a bidder can place a bid at.

Once a starting price is entered, click Next.

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On the Auction page you will choose the Bidding start date/time and the Bidding end date/time. The Bidding start date/time will auto-fill to the current time so that it will publish immediately. If you wish to delay this, simply edit the start date and time.

The Bidding end date/time is when the auction will close. It is advised to set the bidding end time in the evening so that bidders are likely to be available to participate in the closing minutes of the auction. This is often when the auction gets the most competitive.

On this page you can also enter a Bid increment. This is the minimum amount by which the current bid must be increased

For example, if the current highest bid for an item is $100, and the bid increment is set at $10, the next bidder must offer at least $110 to become the new highest bidder.

This prevents bidders from making only small increases to previous bids, and encourages more active participation in the bidding process.

You can also include a Reserve price. A reserve price is a minimum price that the seller of an item is willing to accept in an auction or other type of sale. The reserve price is typically set by the seller before the auction begins and is not disclosed to the bidders.

In an auction, if the highest bid does not reach the reserve price, the seller is not obligated to sell the item to the highest bidder. This means that even if the highest bid is significantly lower than the reserve price, the seller can choose not to sell the item and instead may either relist it for auction at a later time or negotiate with potential buyers privately.

Enter the Terms of your auction. The terms of an auction refer to the rules, conditions, and procedures that govern the auction process, including the rights and obligations of the buyers, sellers, and auctioneer. It is important for bidders to carefully review and understand the terms of an auction before participating to ensure a fair and successful bidding process.

You can also edit the Time extension on the auction. Auction time extension refers to a mechanism used in auctions or online bidding platforms that automatically extends the bidding time for an auction when a bid is placed near the end of the designated bidding period.

For example, if an auction has a set bidding period of 24 hours and a bid is placed within the last few minutes of the auction, the auction platform may automatically extend the bidding period by a certain amount of time (e.g. 5 minutes) to allow other bidders to place their bids. This process may continue until no further bids are placed during the extended period.

Auction time extensions are designed to prevent last-second bidding, also known as sniping, which can disadvantage other bidders who may not have had enough time to respond to the last-minute bid. By extending the bidding period, auction time extensions help to ensure a fair and competitive bidding process for all participants.

Once you have completed the necessary fields, click Next.

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On the Media page you can attach any images or video links you have for the property. Accepted image formats are JPEG and PNG.

Click Next.

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Now, if you have any documents related to the property you can attach them here. Examples of relevant documents include: alternate soil map, FSA map, yield documentation, record of recent inputs, etc. These are unnecessary to include but are encouraged to include if available.

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Select any Amenities listed on the Property features page relevant to your listing and click Next.

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Select any relevant Utilities listed on the Property features page and click Next.

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On the Contract Type page, select Finish at the bottom of the page. This will publish your Sale Auction listing.

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Done 🎉

Your Sale Auction listing is complete! To view your listing, make edits, and see bidding activity, select this Listing from within the Listings tab in the Land Manager portal.

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What’s Next?

CommonGround will begin marketing your Sale Auction listing to encourage participation in the auction. Share your listing URL to your own social channels to make your audience aware of the auction.

Learn more about

clerking your sale auction⁠

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Learn more about

how we market your listings⁠

to drive as many bidders as possible to your auction, ensuring that you and your client have a deep pool of high-quality, high-paying bidders to choose from.

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Creating a Sale Auction ListingCreating a Sale Auction Listing