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Boost the success of your auction sale
Imagine the difference on auction day of 1 or 2 people bidding for your house, versus 15 to 20+ bidders. Auction buyers gain confidence from each other, creating competitive bidding and driving the sale price upwards.
Boost your auction sale. No upfront costs.
Skyrocket Your Auction Sale Price
Increasing the exposure of your property sale to a greater audience of potential buyers dramatically increases the probability of a sale.
Extra marketing = more bidders = a higher final sale price
AUCTION BASICS #1
Different from an estate agency sale, the success of an auction sale relies on negotiating with more than just one buyer…
Our job at Auction Extra is to tell the world about your auction sale and maximise competition in the auction room.
For our clients we’ve made the difference between the risk of no sale at all, to selling for record-breaking prices, significantly exceeding the sellers expectations.
Example Sales
Successfully sold at (online) auction in late March 2020, just one week into the COVID-19 lockdown. Fortunately, 4 of the 5 open house viewings dates went ahead as planned, only the final viewing date was cancelled due to lockdown restrictions!
Sale price: £340,000
The vendor agreed to sell at auction with a reserve price of £300,000 and a guide price of £270,000 (set low to stimulate interest).
Although the property was in serviceable condition, the decoration and fixtures were quite dated and would benefit from updating. There was scope for buyers to convert the integral garage into living space, as well as extending to the side and rear of the property.
In addition to the auctioneers normal marketing activities, the sale benefited from Auction Extra’s additional marketing push. The end result was a £340,000 sale price, which was well above expectations, and even higher than estate agents were suggesting as an asking price!
The vendor was very pleased with the result at auction, achieving the best price and in the quickest possible timescale too.
Sold in April 2020 at the start of the COVID-19 lockdown; all scheduled viewings were cancelled! Despite this, the sale of 85 Donaldson Road benefited from the Auction Extra’s marketing boost and sold for significantly more than the reserve price. This was a great result, especially when you consider that many other properties failed to seller whatsoever, let alone for more than the reserve price.
It’s very unusual for a property to sell at auction without viewings. For this property prospective buyers relied on additional photos and a 5 minute video tour produced by Auction Extra, which can be seen here: 85donaldsonroad.co.uk
The additional media helped prospective buyers to bid with confidence on auction day. Due to COVID-19 restrictions, the auction sale was held online. There were 10+ registered bidders competing against each other, resulting in a sale price significantly higher than expected.
Sale price: £310,800*
*Sold for £306,000 plus a premium of 2% charged to the buyer.
This was a probate sale and the property was in need of complete renovation. In it’s existing state the property was not fit for habitation, and not suitable for mortgage lending, so the audience of buyers was limited to cash buyers only.
The Auction Extra team contacted hundreds of local building firms and property developers, bringing their attention to the auction sale, and directing them to the specially created website containing resources and additional information about the property – especially useful when no viewings were allowed!
This property in the North East of England was advertised as a DIY enthusiasts dream project, with some fixtures and fittings already purchased (and available to the buyer) but not yet installed. Despite the poor condition of the property, the final sale price equalled that of other good condition properties in the local area.
“Fantatic result. We’re very impressed with the sale price.”
Sale price: £47,500
Auction Extra made contact with property investors, agents and other businesses in the town of Washington and neighbouring Sunderland. Over one thousand businesses were contacted, and word-of-mouth spread around the towns! Zoopla (the property portal) showed 12,000 people had viewed the sale listing in just one month. For all other properties 300 to 500 viewings per month is about average. That’s a clear indicator of the success of the marketing. And the eventual sale price reflected that too!
The owner of this property in South East London had been trying to sell using a good, local high street estate agent for more than 6 months. But the sale kept on stalling, as buyers reduced their offers or backed out of the sale.
Mark talked us – novices at auctions – through the procedure, knowledgeably and in language we could understand, provided all the necessary paperwork and explained everything that needed explaining; leading, ultimately to a highly successful sale, realising considerably more for our Victorian semi than we would have dreamed possible, and certainly more than the Estate Agent that had previously marketed it, was able to achieve!
Sale price: £982,000
Before selling at auction, the property was advertised by an estate with an asking price close to £1,000,000. The owner had received an offer (through the estate agent) for £900,000 but the buyer was dragging their feet, potentially stalling for another price reduction.
The property was booked into a February 2020 auction with a reserve price of £850,000 and a guide price of £800,000.
The team at Auction Extra contacted local builders, developers and property agents. And the word certainly spread, resulting in a sale price significantly exceeding the price negotiated through the estate agent!