Selling your property at auction can be an exciting yet nerve-wracking process. On the one hand, auctions offer the potential for competitive bidding, which could push the price far beyond your expectations.
On the other, there’s always the risk of it selling for less than you’d hoped. To give yourself the best chance of achieving a standout sale, it’s worth investing some time and effort into maximising your property’s value before it goes under the hammer.
While no strategy is foolproof, there are plenty of steps you can take to make your property as appealing as possible to potential buyers—without overstepping into heavy-handed promises.
A guide to setting the stage for success
1. First Impressions Matter: Boosting Kerb Appeal
Kerb appeal is the wow factor your property delivers when people see it for the first time. In an auction setting, where buyers often make snap decisions based on a quick visit or photos in a catalogue, it can make or break their interest.
Simple changes can make a big difference:
- Tidy up the exterior: Mow the lawn, sweep paths, and clean gutters.
- Add a pop of colour: Fresh flowers in pots, a newly painted front door, or a cheerful welcome mat can make the property feel more inviting.
- Repair small defects: Fix cracked paving, replace broken fences, or touch up peeling paint.
While these steps won’t dramatically change the property’s value, they can help create a positive impression, encouraging buyers to bid higher.
2. Declutter and Depersonalise
Buyers at auction often imagine themselves making use of the property, whether as a home, a rental, or a development project. To help them see its potential, declutter the space and remove overly personal items.
You don’t have to go full minimalist, but reducing visual noise can make the property feel more spacious and versatile. Consider:
- Clearing kitchen counters of unnecessary gadgets.
- Packing away family photos or unique collections.
- Keeping rooms tidy and neutral in appearance.
A simple, clean presentation allows buyers to project their vision onto the space, making them more likely to bid with enthusiasm.
3. Tackle Small Repairs and Touch-Ups
While you may not want to embark on large-scale renovations, addressing minor issues can help your property feel well-maintained and cared for.
Here are a few examples:
- Fix dripping taps or squeaky doors.
- Replace broken lightbulbs.
- Patch up holes in walls or re-grout tired-looking tiles.
- Freshen up walls with a coat of neutral paint.
These inexpensive fixes signal to buyers that the property has been looked after, making them more confident about bidding — if they come to visit the property beforehand.
4. Highlight the Property’s Potential
Not every property comes in perfect condition, and that’s okay. What matters is showing buyers the potential.
- Floorplans and surveys: Providing detailed floorplans or a survey can help buyers see possibilities for extensions, renovations, or redevelopment.
- Development angles: If you believe the property could be extended, converted, or re-classified (i.e. commercial vs. residential for example), subtly suggest those possibilities in the property description.
- Neighbourhood benefits: Highlight nearby amenities, such as good schools, transport links, or upcoming regeneration projects, that could enhance the property’s future value.
You don’t need to overpromise—just plant the seed of possibility to get buyers thinking.
5. Stage the Property with Buyers in Mind
Staging isn’t just for estate agents—it can work wonders in an auction setting too. The goal is to help buyers see the property’s potential by showing it in its best light.
- Arrange furniture to showcase the flow of the space.
- Add soft furnishings, such as cushions or rugs, to create a cosy atmosphere.
- Use lighting strategically, combining natural light with warm bulbs to make rooms feel bright and welcoming.
If the property is empty, consider light staging or virtual staging to help buyers visualise how it could look with a bit of TLC.
6. Be Transparent About What You’re Offering
Transparency might not sound like a strategy for maximising value, but buyers at auction appreciate honesty. If your property comes with challenges—be it a short lease, structural issues, or planning restrictions—address them head-on.
Being upfront can actually work in your favour. Buyers will trust that there are no hidden surprises, making them more willing to bid confidently. Plus, properties with clear documentation and full disclosure often fetch better prices than those shrouded in mystery.
7. Set a Realistic Reserve Price
While setting a low reserve price can attract attention and generate buzz, it’s important to strike a balance. If the reserve is too low, you risk selling the property for less than its true worth. If it’s too high, you might deter buyers altogether.
Consult with the auction house to set a reserve that reflects the property’s value while encouraging healthy competition. Remember, a bidding war is your best chance of achieving a standout sale.
8. Choose the Right Auction House
Not all auction houses are created equal. Some specialise in certain types of properties or attract a specific pool of buyers. Research your options and choose a reputable auction house that aligns with your goals.
Ask questions such as:
- Do they have experience selling properties like yours?
- How do they market properties to potential buyers?
- What is their fee structure?
The right auction house can be a powerful partner in maximising your property’s value.
9. Market Strategically
Marketing your property effectively is key to attracting the right buyers. Work with the auction house to ensure your property is listed on all relevant platforms, including property portals and social media.
High-quality photographs, engaging descriptions, and clear information about the auction date and terms can help generate interest. The more buyers you attract, the more likely you are to see competitive bidding.
10. Present a Clean Legal Pack
One often-overlooked aspect of maximising value is the legal pack. Buyers at auction will review this before placing their bids, so it’s worth making sure it’s complete and well-organised.
Include:
- Title deeds.
- Planning permissions (if any).
- Leasehold details (if applicable).
- Any restrictions or covenants.
A clean legal pack reassures buyers that the transaction will be straightforward, encouraging higher bids.
Final Thoughts
Selling a property at auction can be a highly rewarding experience, provided you take the time to prepare. By focusing on presentation, transparency, and strategic marketing, you can create a compelling proposition that attracts motivated buyers.
Remember, every property has its unique charm. The key is to highlight its strengths, tackle any glaring issues, and create an environment where buyers feel confident in bidding. While no approach is foolproof, following these tips will set you up for a more successful auction day — and good luck as the gavel comes down!
This article is purely intended as a helpful guide and not professional advice. Potential buyers should consult an independent professional prior to purchasing any land, property, or investment vehicle.
