Our Property Auctions and How We Manage our Success

In the beginning of April, we had to opportunity to put on an auction for a property in West Bromwich.  The house that stands at 39 Springfield Crescent was rough around the edges, but all this 3-bedroom semi-detached home needed was a buyer with a vision for its potential.  Through our hard work and personable approach, we were able to do just that, selling the property for £188,000, making it one of the most expensive houses on the road and £38,000 above our top estimate.  So, how did we manage to sell at this fantastic price?

Even before the property catalogue went live on our website, emails and phone calls came rushing in showing high interest in the property.  Once live, we received 2,416 unique viewers along with 4000 hits prior to the sale.  We gave ample opportunities for viewing over the next couple weeks and excellent communication from our staff meant only the serious buyers would remain.  Viewing the property played an important part for this auction.  Not only were serious buyers able to see the property in-person, they were also able to speak with the auctioneer to discuss any queries.  As this was an online only auction, viewing was a crucial step to gain access. 

As the auction date drew near, the legal packs and energy certificates were added to the catalogue and, with 296 downloads of the legal pack and 28 downloads of the energy certificates, showed us how popular this auction would potentially be. 

The importance of marketing also played a huge role in the success of this auction.  Our marketing of the house via Zoopla, Rightmove, On the Market, social media and our website meant Jeremy spoke to 53 interested parties that generated 35 booked viewers, 13 online bidders of which 11 bid during the auction, driving the price up and up totalling to 45 bids.

Although the cost of work on the property was estimated to be between £40,000 and £70,000, the winning bidders ended up buying the property at a price comfortable with their budget and in line with their vision for the future of the property. 

Part of my role is to help our directors in any way possible.  To assist with this property auction, I was tasked to answer any queries potential buyers may have through email or on the phone and forward them to Jeremy when need be.  I was lucky enough to speak to the buyers with the winning bid before and after the sale.  They were so delighted to have bought the house as they did have wonderful plans for it in the future.

Overall, marketing, communication and follow-through made for a successful property auction.  One which we hope to continue with future properties to come.

Carissa Pausanos

Assistant to the Directors

Leave a Reply