Auction is a slightly more expensive way to sell than through estate agents. This is because the process is much faster, marketing is more extensive and there are extra costs involved including the auction event itself. Most auctioneers charge an entry fee to cover some of this upfront cost, then sales commission will be charged after the property has sold and exchanged contracts. Commission levels vary around the country and between auction rooms, also the type of property and its value may also be a factor in determining the commission. Your choice of auction room should be based on their capability and reputation, rather than the fees they quote and it is better to select one that holds auctions in your area as your property will almost always sell for more money locally.
To find out the cost of selling your property by auction, contact your local Auction House Team who would be more than happy to discuss the opportunity.
