When looking for suitable auction properties and vendors, the starting point is always chain-free properties. The most typical auction properties often include:

• Residential Properties
• Land
• Commercial Properties
• Garages \ Parking Spaces
• Freeholds

When considering auction stock and opportunities, it is important to think about less common sources for auctions. We have partners who have developed different relationships with various partners resulting in securing both one-off and ongoing auction properties.

Below I have set out some target organisations with which you could partner with to supplement your normal auction properties:

Councils / Housing associations

• Since the EPC reform these properties must be kept to ‘C’ or better
• Rather than invest in upgrading properties that fall short, many are now being sold
• Sale by auction provides a quick, secure, open and transparent sales process.

Developers

• Larger developers offer part exchange to buyers to sell their new stock
• They also have accounting deadlines to hit so push to complete these
• Offer the auction route to sell these properties quickly and securely.

Utility Companies

• Have ‘non-operational assets’ i.e. land, staff housing, unused structure
• These are sitting as liabilities on their balance sheet
• Offer the auction route to offload these properties quickly and securely.

Charities

• Charities have a range of stock such as old offices and unused assets
• These must be transparently sold and quickly with a fair unbiased process
• Auctions offer a fair, unbiased, transparent, quick and secure method of sale.

Probate Property

• Executors often want a quick sale, at the best price with security.
• Build relationships with local solicitors so they understand the benefits
• Auctions provide quick and secure sales for the best price.

Joint agency

• Agents in your area could benefit from the auction route on some of their stock
• Reach out to these agents and offer to be their auctioneer and arrange a fee-split
• We have customers that deliver this service as their sole source of income and bring stock in from other agents far and wide

Convert private treaty stock

• As well as looking for auction stock when reviewing your weekly market appraisals you can check your existing pipeline for stock.
• Is there anything chain-free that hasn’t sold?
• The vendor will likely be keen to sell ASAP as their property is unsold and has been stagnant.
• Auction can expedite these sales and they also won't fall through once sold.

Push direct sales: 1:1

• Not every sale needs multiple buyers (although this is ideal!)
• If both vendor and buyer agree on a price then you can run a private auction
• This speeds the sale and removes the chance of it falling through

If you need help or advice with the above, please get in touch!