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Competitive bidding - a mindset / industry change?

We're proud to announce that our customers will now have 2 methods of sale when using our services. We pride ourselves on being dynamic and offering flexible services to cater for our wide range of customers whether they are a property developer or a first time seller.

The Coronavirus pandemic undoubtedly had an impact on the housing market and we have started to see a shift in how Estate Agents, buyers and sellers operate within the industry, all of whom seem to be embracing more changes with regards to technology and flexibility,

As a result we have decided to present our customers with two options when it comes to selling their home, customers can either sell using our private treaty option (typically known as the normal method of sale) or our competitive bidding option.

What is competitive bidding?

Through this method, we offer our sellers maximum security and fixed timescales for completion. By providing buyers upfront information along with intelligent marketing, we create an environment where buyers compete against each other to buy your property. The buyer will then secure the property with a deposit towards the purchase price along with a commitment to a fixed timescale for completion. This gives you the confidence that when your sale is agreed, the sale is legally binding and the buyer is committed through a deposit & contract.

Where are properties advertised?

Properties are advertised exactly the same as private treaty properties, on Rightmove, social media and many other advertisement platforms along with the added benefit of increased popularity and community sharing thanks to an attractive start price.

How do people bid?

Buyers bid online, they register and follow the auction room which opens after 28 days of advertisement. The process allows people to organise finance and removes the need for all interested parties to be cash buyers only.

What's the difference between Auctions and Competitive bidding?

Technology and mindset. Auctions is an ageing term, many people (myself included) picture an auction as a room full of wealthy people looking for a bargain and listening for a hammer. In today's day and age a modern method of auction is no such thing. Properties have reserve prices, buyers can organise finances, and millions of people across the world can access the bidding room - simply put, sellers are able to achieve market maximum by using this method!

What are the benefits of Competitive bidding over Private treaty?

  • Bids generate more interest through attractive start prices

  • Block viewings take up less of your time and reduce disturbance to you or your family

  • You have a fixed completion timescale, private treaty is open ended and can drag on for months

  • Immediate exchange of contracts with the deposit paid there and then thus reducing fall throughs

  • Upfront searches / info pack

  • Less risk of your property becoming "stale" on the market.

Will it work?

Yes - it has been working for hundreds of properties across England, our most recent one can be seen below.

So why would you not consider Competitive bidding over private treaty? Call our team on 01531 825736 to discuss our services.

Click HERE to find out more...


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