AuctionYourProperty.com's Auction Service v Using an Estate Agent (Private Treaty)
The Difference in Fees
|The price could easily exceed the seller's expectations. It is an open market with no fixed price being offered.
||With private treaty, the price is set in advance and therefore the true value may not be achieved.
|Auctions generate much more interest, exposure and most importantly a sense of urgency amongst potential buyers because the date of the auction is the day of the sale. Therefore sales are much quicker.
||There are no time constraints so the sale will almost certainly take longer than necessary to go through. Either party can delay the proceedings.
|Once the auction is complete the winning bidder exchanges contracts immediately and will have to put down a 10% non-refundable deposit.
||Buyers frequently retract offers and pull out of sales, often causing a lot of distress and expense to the seller.
|Auctions target a far bigger audience as the marketing is generally nationwide.
||Estate agents tend to just advertise locally, therefore there are fewer people who know that your property is for sale.
|Buyers and sellers have full control and can discuss issues between themselves.
||Buyers and sellers are kept apart. The estate agent has full control and all discussions have to go through them often wasting a lot of time as messages are passed back and forth.
|We do not charge any commission. We just charge a listing fee of £250.
||Fees usually range from 1.5% up to 3%.
|Your Property Sale Price
||Estate Agent's Commission (2%)
||VAT at 20%
||Total Fee to Estate Agent
||Total Fee to AYP