Seller's Guide
Selling at an Auction
A Clear and Simple Guide
There are many reasons why you might choose to sell a property at an auction but if you want to sell a property quickly and for the right price then it is one of the better options.
You'll Need to Provide Information to Begin the Process
Before we can begin marketing your property, we will need some key information. Having these items ready will speed up the process significantly.
Is Your Property Suitable for Auction?
While the majority of properties are suitable for sale through an auction, it might not always be the right option. Therefore, you should seek professional advice to see whether it is the right route to market.
Get a free suitability assessment →Who Can Sell a Property at Auction?
A wide range of sellers can sell both residential and commercial properties at auction. This can include:
The Selling Process
Appraisal
We discuss whether auction is the best route. You receive an estimated sale price and recommended reserve price.
Guide Prices
A guide price is agreed, aligned with a price you deem acceptable. The guide price is typically higher than the reserve.
Fees and Terms
All terms and conditions are agreed. These include entry fees and the commission payable on successful sale.
Identity Checks
Anti-Money Laundering Regulations require proof of identity and address before marketing can begin.
Property Inspection
A surveyor inspects the property, takes measurements and photographs. Draft sales particulars are prepared and a legal pack is created.
Marketing
Your property is marketed through our online catalogue, email campaigns to registered buyers, multiple portals, social media and targeted outreach.
Reserve Price Meeting
2-3 days before auction, we review the reserve price based on marketing feedback. The guide price may be adjusted.
Auction Day and Completion
The hammer falls. A binding contract is formed. The buyer pays the deposit immediately. Completion within the agreed timeframe.
How We Market Your Property
Email Campaigns
Sent to all registered parties interested in your type of property.
Online Catalogue
Listed in the auction catalogue available to buyers nationwide.
Property Portals
Advertised across multiple property portals for maximum exposure.
Social Media
Extensive online advertising campaigns across all major platforms.
Targeted Outreach
Shared with developers, property companies and adjacent occupiers.
Regular Reports
You receive updates on buyer interest, enquiries, offers and legal pack downloads.
The Benefits of Selling at Auction
Legally Binding
Once the hammer falls the sale is agreed and legally binding. No further negotiations. Buyer cannot pull out.
Best Price
Competitive bidding drives the price up. Multiple interested bidders maximise the final sale price on the day.
Speed
Instruction through to exchange of contracts can take just a few weeks. Far faster than estate agent sales.
Transparency
The seller knows the best price has been achieved and the buyer is fully committed to the purchase.
How Do Auctions Compare With Estate Agent Sales?
| Auction | Estate Agent | |
|---|---|---|
| Success Rate | ✓ 78%+ | 51% |
| Sales Falling Through | ✓ 1 to 5% | 25 to 40% |
| Time to Sell | ✓ 3 to 4 weeks | 14 to 23 weeks |
| Sale Certainty | ✓ Legally binding at hammer | Can fall through anytime |
| Negotiation Risk | ✓ None. Price locked at hammer. | Always present |