Property auctions on the rise says agent

Auctioning property is becoming more popular, as homeowners are increasingly attracted to its speed, simplicity and security, according to an expert.

Estate agents Leaders report a sharp rise in the number of sellers putting their home on the market via local auctions and has a sister company, Romans, which operates a specialist auctions department.

Kevin Shaw, national sales executive at Leaders, said: “Property auctions offer a variety of benefits to sellers, so it is no surprise to find they are busier than ever.

“People who choose to sell at auction can set a reserve price, so they know the minimum amount they will receive before their property goes under the hammer. They will also be in a position to achieve a quick sale that is guaranteed not to fall through at any stage.

“We are delighted to have been able to help more of our customers achieve their aims by putting them in touch with Romans’ team of auction experts.”

He has highlighted five main reasons to sell a property at auction, including speed, a guaranteed sale, reaching the right audience, transparency at every stage and selling for the best price.

He explained that the latter is achieved through effective marketing, designed to generate maximum interest, and the competitive nature of auction bidding.

Auctions director at Romans, Simon Clayton, added: “While the final selling price is determined by buyers, sellers retain control of the reserve price, which is agreed in advance. This means every seller achieves their minimum aim but most enjoy a significantly higher price once their property reaches the auction room.

“Auctions work particularly well for homeowners and investors who need a quick sale, executors who are required to settle an estate and those who want the security of a guaranteed sale.”