Property auctioning is becoming an increasingly popular method by which people are buying and selling their houses. Estate agents are losing favour to property auctioneers, who take on virtually all aspects of the selling and buying process for you. An auctioneer will act as the sole agent involved with the selling of a house if it has been chosen to sell at auction, thus their responsibility is great in the process.
When would I need a property auctioneer?
Quite simply, a property auctioneer is needed if you have decided to sell your house at auction. A property auctioneer is involved with all steps of the process of selling your house, from producing the prospectus to signing the final contract. Many of the responsibilities which an auctioneer takes on are similar to that of an estate agent, it is merely the method of the selling which is different.
What does an auctioneer do?
The auctioneer is a type of surveyor who advises buyers and sellers about the property, thus they are involved with gathering as much information as possible about the property to help advise their clients how best to proceed.
- Initially they will visit the property to measure, inspect and assess it.
- They will then use these findings to produce an accurate report on the property, which is similar to a set of particulars produced by an estate agent. This report will be given to potential buyers so they are informed about the property's details.
- The auctioneer will also perform a valuation on the house to help guide the seller with what sort of price it is likely to reach.
- The auctioneer then has to advertise and market the auction to give it its fullest publicity possible.
- The live auction is then run by the auctioneer who has to manage the bidding process and keep the atmosphere lively in order to reach the required target or higher.