Matthew Cooper
Co-Founder

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(Recommendations + Next Steps)
Matthew Cooper
Co-Founder
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Hi there!

Based on your responses, it looks like a Modern Auction is not the right option for you.

(But don’t worry… I can tell you what is going to be the best option, and share a freebie I think you’ll find useful).

Here’s why I would hesitate to recommend Modern Auction for you:

Yes, in theory modern auction should offer a quicker and easier sale…
But it often fails to live up to its promises...
And there are major downsides too, which are often concealed.

Estate agents have played a big part in the growth of modern auctions.

But in my experience, they tend to push you to modern auction because it’s good for them, not because it’s good for you.

(They make huge referral fees if you sell via modern auction).

But I’ve spoken with hundreds of sellers in this position, and I’ve found there’s almost always a much better option you can take.

You have better alternatives...

Here’s what I mean:

  1. If your property has a serious defect, traditional auction is usually a better choice than modern auction.
  2. If it doesn’t have a serious defect, you’re normally better off selling through a good local estate agent. (AndI can give some pointers on this below)...

Based on your responses, I think you fall into the second camp.

I’ve tracked modern auction closely for years now, and here are my main problems with it:

#1 Problem: You lose a lot of money...

When you sell at modern auction you expect to lose about10-15% of your home’s value.

This is because:

  1. Fewer buyers.
    Most people can’t buy at modern auction (or are put off by the terms or the high fees).

    So you have fewer potential buyers, which ultimately means less competition to push up the price.
  2. Bargain hunters.
    Secondly, people who are happy to buy at modern auction are typically looking for a bargain. So they’re the buyers who pay the lowest prices.
  3. High fees.
    Finally, modern auction fees are around 3-4x higher than estate agent fees.

    The buyer usually has to pay them… so they’ll just reduce their offer to leave room to cover the costs. So in the end, you still pay.

Even if you are prepared to lose a lot of money, there are other problems.

5 More Modern Auction Problems…

Here’s a quick list:

  • Modern Auction is not a guaranteed sale.
    Insider contacts have told us that some of the major modern auctions currently sell as few as 30-40% of the properties they take on!
  • Sales not as “final” as traditional auctions.
    Only around 1% of traditional auction sales collapse after the hammer falls. But with modern auction, fall-through rates are around 5x higher.
  • Fewer buyers – meaning lower bids, and lower chance of selling.
    (Buyers are put off by the high fees, intimidating process, unknown auction companies, and many of them having bad reviews).
  • Inflated valuations are becoming common.
    (Just like how estate agents mislead you by over-valuing your property to win your business, I’ve seen many of the big modern auction houses do the same).
  • Sales are not super-fast.
    Even if you sell first time around, the process will still take 3-4 months from start to finish. And if you don’t sell first-time around, it’s more like 4-5 months.

You can learn more about the pros and cons of modern auction in this detailed article.

All-in-all, I've found modern auctions to massively over-promise, and under-deliver. So going with one is a really risky move.

And because your property doesn’t have any serious defect, I wouldn’t suggest traditional auction either. So here’s the best route I’d recommend…

So, what should you do next?

Based on your responses, I think selling through a good, local Estate Agent is going to be the best option for you.

You’ll end up with way more money than selling to a Modern Auction.

I know you've been on the market a while already though, so you know there are two major downsides to this:

  1. Estate Agents are Slow.
    According to Rightmove, the average estate agent sale takes 7 months from start to finish. (And that’s the average, meaning half of sales take even longer.)
  2. The Process is Stressful.
    It’s consistently ranked among the most stressful life events we go through in the UK…

I want to share something that should help though…

Access to Free In-Depth Video...

Over the last 15 years I’ve sold over 650 properties through estate agents—so I've been in your shoes many many times thinking "why aren't we getting any viewings on this one?!"

Or if it's getting viewings, then "why aren't we getting any offers?!"

And from going through this process hundreds and hundreds of times, I've only found 5 reasons houses don't sell...

And so I put together this video a while ago that I'd love to share with you.

We'll cover: 

  1. The Five Reasons houses don't sell
  2. How to diagnose which problem you've actually got right now (and it might be several).
  3. What you can do to fix it. (Real tactical things you can start doing today.)

I walk through them in this detailed video I'd like to share with you.

It’s a pretty in-depth video (around an hour long) but readers have told me it's saved them a ton of stress, a lot of money, and a lot of waiting around.

I hope you find it useful.

And remember—you’ll come out tens of thousands of pounds ahead compared with taking perhaps a 10-15% hit and selling by Modern Auction.

Just click below to start watching now.

Good luck!

Free In-Depth Guide...

The Five Reasons Houses Don't Sell
(and what you can do about them)

Matthew Cooper
Co-Founder
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Notice: This recommendation is based only on your quiz details and is provided for general guidance only. This isn’t financial or legal advice, and individual situations all vary. Please do your own research and speak with a professional directly before making big decisions!

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