Estate agents - selling at auction

[moustachebandit]

I think there are a few Agents that lurk in here?

I was just wondering what the going rate is for selling a property at auction, for the vendor but also what the agent pays the auction house for the service?

Thanks

[98elise]

moustachebandit said:

I think there are a few Agents that lurk in here?

I was just wondering what the going rate is for selling a property at auction, for the vendor but also what the agent pays the auction house for the service?

Thanks

Why would you use an agent? The auction house do the selling for you so an agent is not needed. They are not really needed in any sale/purchase unless you need to find a buyer.

I've bought and sold at auction without an agent.

Give Clive Emson's a call if you're in the South.

What are you trying to sell

Edited by 98elise on Thursday 4th May 14:01

[tescorank]

They will want £500 entry fee and 2% but in reality will settle for £100 and 1%, after all consider the cost of 1 page of a catalogue to them. They have to produce it anyway, your brief is going to want £500 up front or so to produce the legal pack which is basically a sellers question form and searches-if your own Solicitor sucks air through their teeth at the cost then ask Auction company who will know the best ones to deal with and at £500.
Good luck...and all you'll want is two determined purchasers and happy days!

[moustachebandit]

Thanks for the responses.

Wasn't looking at selling anything - wish I had something of value! Attended a land auction the other week and noticed that some of the lots were being auctioned on behalf of estate agents. I was interested to know how much an auction house would normally charge the agent for the service and whether the auction house also takes a commission on the final sold price, alongside the agent, or whether its split etc.

I was just trying to establish the potential income a property auction house would make in this sort of scenario. Just got the grey matter firing. Especially as it appeared that the Auctioneer that was running the auction had put literally no effort into the auction, venue, or brochure! Done well with a lot of lots I was wondering how successful a venture it could be.

Edited by moustachebandit on Tuesday 9th May 13:05

Edited by moustachebandit on Tuesday 9th May 13:06