2023 New Trends – Modern Auctions with 0% Selling Fees – One to Watch

As we move into 2023, the housing market is seeing new trends immerging.  Consumer demand for auctions is increasing and experts believe it will continue to be a driver in the housing market.

This alternative method of selling a house has some key benefits for buyers and is no longer associated with just properties that have seen better days. With digitalisation and better transaction experiences consumers are having a significantly improved experience.

What is driving the growth in this sector? Instability in the mortgage market in 2022 led by mortgage rate increases, delays in conveyancing timelines combined with a limited number of ready buyers and sellers holding out to the get the best possible price for their properties are slowing transactions.

These circumstances are seeing estate agents introduce more choice to clients, with different methods of sale that cater to their circumstances, including the Modern Method of Auction (MMoA). The experience can offer security, speed and peace of mind.

When timelines are short for selling a property, auctions can be ideal, as the buyer must complete within 28 or 56 days. MMoA provides a real benefit in terms of speed and security, protecting transactions from fall throughs and the 150 day Private Treaty completion timeframes. For sellers nervous about achieving the right price for their property, auction offers the opportunity to stay in control by setting a Reserve Price.

The types of properties that are being auctioned include properties that sit over the £1m range, showing the market is changing from the Homes Under The Hammer style properties to do up.

Harry Charles have combined with auction house Pattinson Auction, who have over 25 years’ experience in this field.  We are offering 0% sales fees and expert advice.  Harry Charles will continue to manage the process through professional advice, photos and marketing of your property and viewings of your property with our expert sales team. 

For more information visit our auction page on the site: Sell For Free (pattinson.co.uk) or call Mark Parker 01923 731313 for more information.