The property industry in recent years has been tough to work in.
Clearly the challenges we faced with the pandemic, lockdown and social distancing dramatically changed the way properties were sold.
Arguably, a more long-term challenge for the industry is lengthy completion times and the frustrating fall-throughs that happen when legal complications have thrown a spanner in the works. Add in an unstable UK financial outlook and it’s no surprise estate agents and those buying and selling properties are feeling the strain.
At SDL Property Auctions, we believe we’ve got the answer. An unconditional sale with an immediate exchange of contracts, legal documents completed ahead of the sale and key handover after only a month.
Though, if it was that simple then property auctions would comprise a lot more than only 2% of UK property sales.
The process of property auctions is simple, it’s straightforward and there’s no place for negotiation or fall-throughs, because competitive bidding takes its place.
On top of this, one of the main things to consider when selling a property by auction is that we tend to see a higher success rate, which, according to consumer advice website, Home Selling Expert, is over 78%, while selling via an estate agent has a lower success rate of 51%.
What’s even more straightforward is that if a property is priced correctly it will sell. What could be simpler?
Digging deeper into your local market, analysing the location and researching the property using our additional tools on hand as property professionals are just the first steps we take into valuing your property.
Next moving onto potential renovation opportunities and potential buyers, working with you to set a reserve price on your property, and a guide price that we advertise, which is always within 10% of the reserve.
Auctions are, now more than ever, an environment for committed buyers and sellers; fuelled by competitive bidding which ultimately dictates the market value of properties.
In these times that we’re facing, pricing has to be realistic. Properties need to be attractively priced.
Pricing your property correctly can help you to profit from selling at auction, as the less than 1% risk of fall-throughs and 30 day completion time-frames mean that potential buyers can be in their property much sooner than a traditional house-buying process, making them more appealing to many buyers, with an attractive guide price being the cherry on top.
* Andrew Parker is Managing Director and Auctioneer at SDL Property Auctions *
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You should sell when prices are rising, not falling, really. It is the same with shares, I think.
Of course, we are all being pushed out by legislation we can't live with, so we have to consider all the possible options.
Clearly its not to do with pandemic or lock down.
It’s 4 things mainly all inflicted by Government, (1) The so called RENTERS REFORM BILL, (2) The proposed Removal of Section 21 enforced sitting Tenants for life, (3) Section 24 taxed on turnover unfairly, (4) Higher interest rates that many buy 2 let LL’s were clueless about. However not me I was paying 13% on my first home build to live-in, when no one would lend me the money to buy thank god, which is now let so hardly a buy 2 let that terminology wasn’t invented.
Mr Paul Shamplina was guest on LBC last night which was quiet good and covered most things but I think he still don’t grasp the gravity of loosing S.21 he just accept it and says he’s 33 years in the business although I’m 45 years a LL. There was so many ringing-in talking rubbish so I gave them a couple of Texts to think about which in fairness were read out if you were listening.
Paul Shamplina is not of the same mind as most landlords regarding Section 21 - and it is what most landlords think that matters for the future of the private rental sector.
You did so well, Michael, to send them over the texts. I didn't hear that programme unfortunately.
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