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Hi there!
Based on your responses, it looks like Modern Auction is probably not the right option for you. (But don’t worry – we can help you find out what is.)
First, let's look at why Modern Auction isn't going to be a good fit:
(You said getting the best price possible is more important to you than getting a fast sale)
Explanation:
Selling by Modern Auction is slightly faster than going through an estate agent, but you’ll typically only sell for around 85-90% of your home’s full value.
Why so much less?
So if your property’s worth around £125,000, you should expect to lose about £15,000 on average!
So if your property's worth around £250,000, you should expect to lose about £30,000 on average!
So if your property's worth around £450,000, you should expect to lose about £50,000 on average!
So if your property's worth around £750,000, you should expect to lose around £100,000 on average!
Based on your priorities of wanting a high selling price, this isn’t going to make sense for you. You’ll end up losing tens of thousands of pounds. If getting the best price is important to you, there are better ways for you to sell.
(You said you’re aiming to sell within the next 2 months)
Explanation:
There’s a belief that modern auctions are a fast way to sell your home… but based on the real number, that isn’t really the case.
The whole process usually takes around 12-16 weeks from start to finish:
Many of the biggest modern auction houses are only selling around 50% of the properties they list too. This means that the 3-4 month timeframe isn’t even guaranteed.
If you’re serious about a 2-month sale, there are “fast-sale” options that would work for you.
But if you’re willing to wait 3-4 months, there are other options that’ll get you more money…
Either way, modern auction doesn’t seem like a good fit for you. Keep reading for some solutions.
(You said you’re aiming to sell within 3-4 months)
Explanation:
Modern Auctions can deliver a sale in the timeframes you want… but you’ll likely need to take a big hit on your price to make it happen. (On average, you should expect to lose about 10-15% of your property’s value when you sell at modern auction.)
It’s a massive price to pay…
But you can likely sell just as quickly (and at a much higher price) using a different selling method. (Read on for our suggestions and next steps…)
(You said you’d be prepared to wait 5 months or longer for your sale, if necessary)
Explanation:
Modern auctions offer you a slightly quicker process… but it usually comes at a high price. On average, you should expect to lose 10-15% of your property’s value – which is tens of thousands of pounds!
Since you’re not in a rush, you don’t need to take this massive hit.
You’ve got plenty of time, and you can use that time to sell for a much higher price. (And that extra money will be a lot better in your pocket than in some property developer’s!)
So based on your circumstances, it doesn’t look like modern auction is going to make sense for you.
(And even if it did make sense, just remember that auctions still aren’t a guaranteed sale. Many of the modern auction companies only seem to be selling around 50% of the properties they take on… sometimes even less. So there’s a real chance you’d still be left disappointed.)
Thankfully, there are other selling options that will be a much better fit for you…
Even though modern auction isn’t the right option for you, we can help you figure out what is.
The quiz you’ve just completed is a great starting point, but it can only tell us so much…
That’s why we’d like to offer you a free 20-minute phone consultation with one of our Home Selling Experts.
Our free one-to-one consultation will provide you with an in-depth, personalised action plan to help you get the home sale you want.
You’ll walk away with:
We'll help you determine the right selling method for you based on your priorities, property and timeframes.
If requested, we can connect you with leading companies we know and trust. You’ll get a free, no-obligation quote within 48 hours and peace of mind knowing you’re dealing with companies we’ve personally vetted.
Get all your other property questions answered instantly and for free by our Home Selling Expert.
We’ve helped thousands of homeowners sell more quickly, and we'd love to help you too.
Simply click the red button below and complete the short form to book your slot now.
Please note: We can only accommodate 25 consultations per week. Slots fill up quickly, but if you’re seeing this page then some are still available. Click the red button above to arrange your call now and avoid missing out.
We’ll explore your specific situation, priorities, and how we can support your selling goals.
Just have any questions or important details about your home ready. We want to understand your needs fully.
You will speak directly with Matthew Cooper, who has over 15 years of experience in the property industry. Matt has bought and sold nearly 150 properties worth over £16m and has assisted thousands of homeowners with their property sales.
Yes, it is free. There’s no hidden cost, no sales pitch, and your details will not be shared with anyone else. We’re here to help you find the best way to sell your home, and give you a personalised plan of action.
If you find our guidance useful and want more help from us, we may be able to connect you with relevant companies who we’ve personally vetted and trust, and who are right for your situation and sale.
If you use them, they may pay us a referral fee for introducing you. This does not affect who or what we recommend during your consultation. Our integrity is worth a lot more than that.
Supporting our business in this way means we can provide you with unbiased advice, for free, with no catch.
If you have any questions or concerns, we're here to help.
Just click this link and complete the short form to arrange a free, impartial chat with a Home Selling Expert.
Notice: Home Selling Expert is supported by our audience. When you use businesses we recommend through our site, they may pay us a referral fee.
But we do not just recommend the companies that pay us the biggest fees. Our integrity is worth a lot more than that.
We work to help you find the best companies for your needs, and to help the best companies win more customers like you.
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