We are proud to be Birmingham’s auctioneers and it was the Biddle & Webb name that introduced me to the vendor of our most recent property lot.
The auction sale of a property on Talbot Road came to Biddle & Webb as the client initially needed help with the contents of the house. With our 60 years of helping executors and solicitors across the city with estates we are known as the auctioneers that will advise, value and clear any house contents never cherry picking, just supplying solutions to the client’s needs.
Our valuer had visited the house to advise the owner about the contents, and he suggested they might want to chat to me about the property. So a couple of days later I was sat in the front room at Talbot Road and from that meeting the instruction followed.
So how does an auction sale differ from the better known estate agent sale?
The primary difference is the shorter time scale from instruction to a completed sale. At an auction is often just two months and this compares favourably to the typical 4 to 6 months associated with an estate agent sale.
When a property sells at auction the fall of the gavel is the contract exchange and this is confirmed by the signing of documents at the auction. We also take on the day a 10% non-refundable deposit from the buyer to ensure they complete in the next 20 working days.
This is the key benefit for our vendor clients – guaranteed money in good time and no long drawn out completion as sale chains are established, surveyors start to question the property condition, or the “buyer” just walks away from the sale.
There are of course similarities as we will sign business terms with the client to sell their property, put a for sale sign outside the house, photograph and video the property to promote the house to potential buyers.
We will promote the house on Zoopla and Rightmove, and we of course hold house viewings but even in all these areas we are more sophisticated and sales focused.
Biddle & Webb are a digital auctioneer, and our promotion uses extensively social media, Facebbok ads, Twitter, live broadcast from the house, Blogs and much more.
The way we conduct the open viewing days is also more sales focused taking time to talk to the potential buyers to understand their circumstances. This gives useful information to feedback to the seller but also gives the buyers confidence in the auction process and has attracted new bidders to the property auction world. The viewing days always includes a weekend and evening viewings, and slots during the day to accommodate as many viewers as possible with one property lot this year seeing over 115 viewers.
When Biddle & Webb auction a property we take the stress out of the process for the seller with a simple cost structure, and a single point of contact for all their questions or concerns, regular feedback about level of enquiries and the certainty that everything we do is to maximise the value of the property.
The buyers get a level playing field, where everyone is treated like they might be the buyer, and experience has taught me that only when the gavel falls do we finally discover who has the deepest pockets or wants the property the most.
That is how best price is achieved.