We can be fairly traditional beings with preconceived notions regarding many facets of life. Selling a property at auction is one of these. The belief that a property is sold at auction only if it is distressed is no longer the case. Clients are now driven by the need for convenience and time saving, which is supplied by means of property auctions.
Welcome to Connect UK’s Auction Academy – Here to answer all your property auction questions.
So, you’re at the point when you decide you need to sell. You don’t want to be on the market for months going through viewings and price negotiation processes for it just to fall through down the line, right? This is where auctions come into their own.
So, what are the biggest factors to consider when selling by auction?
1) Price
Price is everything and sometimes taking a large financial hit is not an option. Make sure you know your property or land’s worth. Free valuations by auctioneers can help with this and by setting an attractive guide price we are able to grab the engagement of potential buyers.
2) Maximum Exposure
Marketing is key when selling by auction so ensure you know your chosen auctioneer leaves no stone unturned. Auction marketing is extremely different to selling via a local agent so make sure your point of contact explains how your ‘lot’ will be marketed.
3) Reviews
Google and Facebook reviews are a must. No one is more honest than over these portals and especially social media. Be sure to check them out!
4) Large databases
Every auction company will have their own go-to database which will be full of potential buyers, local, national and even globally. Your lot should feature as its own bespoke mail out to all of these in their database with the option to request further information and book in viewings.
Check out our other videos on what makes a property un-mortgageable and help, I’m in financial difficulty.
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