But sometimes, for some properties, none of this is enough to get the sale you want. In these circumstances, we encourage our clients to think outside the box; to be more creative; and to give modern auctions a try. We passionately believe that they can be the best way to sell any type of property!
Benefit #1 – good value for money.
1. Whilst some traditional auction houses charge a hefty sales fee, Open Door’s modern approach to auction involves single agent commission of just 1.5%+VAT. We don't charge large buyers' premiums that penalise the vendor.
2. The entry fee of £150+VAT is really two bites at the cherry, with two (and sometimes three) auctions included. And sometimes we don't charge this at all.
3. All vendors receive a 10% non-refundable deposit upon exchange, putting them in a very strong position for their next purchase.
Benefit #2 – better service.
1. We qualify all viewers to ensure that they are in a proceedable position. This cuts out of a lot of “time wasters” and “tyre kickers”.
2. We are in regular contact with vendors to share updates about the auction, to set reserve prices, and to communicate pre-auction activity.
3. Finally, we have fair terms and conditions which mean that we don’t charge withdrawal fees; we reimburse other agents’ fees; and we only require 7-day withdrawal notice.
Although modern property auctions sometimes feel like an “unknown quantity”, they are growing in popularity every single year.
Want to know more? Try the links below or, if you still have questions, please get in touch!
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