Sellers at property auctions often benefit from competitive bidding, but in every case, you’ll want to achieve the best possible price you can, and there are several ways to improve your prospects.
In some cases, we may suggest against investing considerable sums in renovations or redecoration, especially when the location or type of property you're selling suggests you're most likely to attract bids from professional developers who'll remodel in any case.
However, in others, there are simple, low-cost ways to present your auction property in an optimal light and ensure any prospective bidder can see the potential to turn it into their dream home, rental property, or next investment project.
Quick Tips: Increasing Property Values Before an Auction
- Auctions work differently from conventional sales, and it’s worth asking for advice from the Clive Emson team if you’re unsure how to add to the value of your property or want to verify how much impact you’re likely to have on the bids received.
- For many, paying attention to smaller details, such as decluttering, can be beneficial, but it's just as important to focus on providing as much information as possible, with clear photos, video walk-throughs, and a comprehensive legal pack.
- If you expect your property to be marketed to direct buyers, you could spend time on staging and tidying the garden, but you could also highlight nearby amenities, school catchment areas, and local transport links, which will appeal to a cross-section of buyers.
1. Cleaning and Tidying an Auction Property Before Photography
As with any property transaction, bidders often want to visit a listed auction lot in person, but this isn't always possible. They'll usually first decide whether they might be interested in bidding based on the images and videos they see in your marketing.
That means making a good impression can increase the number of participants who will be thinking about bidding, and you can incentivise more buyers to consider your property by:
Decluttering as much as possible, removing excess furniture and personal belongings where they might make a space look smaller or darker than it really is.
Opening windows if the property has been sitting empty, and having a thorough clean to ensure any scuffs, marks, or dust have been cleared, and the photos show the property as an inviting and well-looked-after space.
It’s rarely a good idea to spend a lot of time or money on larger-scale renovations, but the key is to think about how your property appears when buyers are browsing listings and to ensure you're not losing bidders because it looks like it requires more work than it does.
2. Sharing Essential Information About Your Property’s Potential
We often speak with buyers looking for DIY projects or investment properties who readily expect to need to remodel or redecorate. These groups will usually look for indications that a property is available at a competitive price and will deliver a reliable return, or be a great option for conversion or extension.
Auction properties don't need to be perfectly staged, but the more details you can offer, the more buyers can see the potential, which can mean:
Putting together floor plans and surveys, especially where you want to clarify that there is ample room to extend outwards or redevelop certain parts of the property.
Showing there are good schools and transport links to off-road parking, proximity to universities or being within walking distance of high street shops.
If there are some potential issues or challenges that might put buyers off, be upfront about them from the beginning. There could be planning restrictions, for example, and clear information will ensure buyers aren't uncertain about bidding due to a lack of detail.
3. Put Together a Comprehensive, Properly Organised Legal Pack
The legal pack is a downloadable set of documents that prospective buyers can access before the auction starts, and it's a fundamental aspect of buying at auction that is just as important as the photography and location of your property.
Buyers will look through the legal pack closely and want to see full disclosure of title deeds, leasehold periods (where relevant), covenants affecting the property, and planning permission applications.
We can, of course, help ensure you understand all the information buyers will check for in the legal pack, providing reassurance that they know everything they need to before the auction begins.
4. Working With an Experienced Auctioneer on Pricing and Marketing
The work that goes into listing and marketing your property can have a significant influence on the interest you get from buyers, and the amounts they’re prepared to bid, which is why it’s so important to pick an auctioneer who knows the area, has a broad pool of active buyers, and can offer independent recommendations.
Strategic marketing ensures the right buyers know about your property and decide to register for the auction in question, and we’ll advise on the best ways to go about this.
Pricing is also impactful, and although guide prices are only intended as an indication, setting a price too high can deter buyers who are ready to proceed.
The ideal approach is to attract buyers with a reasonable guide price while highlighting all the features and positives to ensure as many bidders as possible are willing to compete.
Get Expert Advice on Increasing Your Property Valuation Before an Auction
As we've seen, a lot depends on how your property is presented, described, and marketed, which may mean you'll need to focus on different tasks than if you were selling a property through an alternative method and expecting to show buyers around your home individually.
If you'd like to chat about your property sale or request a complimentary auction appraisal, you're welcome to get in touch with your nearest Clive Emson Land and Property engineer team. Our offices in Kent, Sussex, Hampshire, Essex and the West Country are available to assist.
