10 October 2016
Known as 'Joint Auctioneers', traditional agents have the ability to enter properties into auction to ensure the best chance of a sale for their clients.
A typical scenario is where a property has been offered for sale on a Private Treaty basis for a number of months without success, often as a result of an abortive deal, conditionality being imposed on a contract or a simple lack of demand. Ultimately, the time has come where the pro-active agent needs to offer a solution for their client to ensure the best chances of a sale.
Joint Auctioneers will enter their clients property on the basis of the commission being split with the Auction House. This allows them to use the Auction as an additional tool in their armoury for ensuring a clients property is sold at the best price and quickly.
Retaining control of the instruction throughout, reporting interest directly to their client and being able to use the sophisticated auction tracking software, the Joint Auctioneer is in total control of the process and can help set the reserve with their client based on accurate interest levels and pre-auction offers received.
One of the many benefits of auction is the ability to agree deals prior to the event. This has many advantages for the client which are often overlooked:-
With smart phone technology becoming more sophisticated, the auction process has become the best method for securing the sale of property and why prices achieved through auction are often much higher than traditional methods (and sales achieved within a matter of weeks).
As solicitors adopt fixed fees for producing the legal packs, there isn't the risk of incurring a large legal bill which is often the case for Private Treaty deals.
In today's fast paced world where global events can quickly alter market confidence, auction is seen as a method that can respond quickly and ensure that deals are kept on track. Having the ability to use an Auction House as a means to overcome the problems associated with the slower Private Treaty process is available to all residential, commercial, agricultural and specialist investment agents.
"I've worked with a wide selection of pro-active agents across the UK who benefit from using the auction house as an additional marketing tool for their clients, ensuring quick deals are agreed at often stronger than private treaty prices"
Director & Auctioneer