When Dominic, a South Norfolk based estate agent, needed to sell a converted Victorian terrace in the heart of Norwich, he wanted a process that was fast, secure and free from the risk of a sale falling through. Here's how Auction House East Anglia guided the sale of the property from instruction to completion in just seven weeks.
The property, on Carrow Road in Norwich, right next to the football stadium, had been a four-bedroom house in multiple occupation (HMO) for around 20 years. With the tenants having recently moved out, and a run of refurbishment work under way, Dominic began weighing up the best route to market.
Why choose auction over a traditional estate agent?
Having spent years in the property industry himself, Dominic understood only too well how a traditional sale can fall through, leaving a property sitting empty for months while a chain unravels.
"I don't want any sales falling through and having delays. I’ve seen properties sit empty for six to nine months, so I chose a secure way to sell - a legally binding transaction."
It wasn't the seller's first experience of Auction House either. As a partner agent, his firm Warners Estate Agents, had referred clients to Auction House East Anglia for several years, including through a difficult market in 2022.
"Every referral we've sent to them in the last four years has actually sold. The auctioneer managed to get a deal done right at the last minute, from a buyer who'd only viewed my property the day before. You're sometimes better to judge things in the tougher circumstances rather than the best months."
The property was listed on 7 July, went to auction on 29th July, and sold for £18,000 over the guide price. Completion took place just seven weeks after launch.
"If that's not rapid, I don't know what is."
A supportive process, from valuation to completion
The seller had some understandable concerns going in, wanting a fair price and reassurance that the process would run smoothly, but found the appraisal straightforward from the very first meeting.
"Bryan Baxter gave me a few options on price - the lower one more guaranteeing a sale, the higher one with no guarantees. It was quite nice having honest options on where it was saleable."
Regular updates from Abbie, his point of contact at the office, throughout the marketing period helped put his mind at rest.
"I found the communication really good. Abbie used to give me updates after viewings on the day, which clients really like - it shows that they care."
On the marketing itself, the seller was impressed by the level of detail that went into presenting the property.
"The photographs were good, and a very detailed floor plan. It's quite important to try and drag as much organic interest as you can, and that's something I'm quite a believer in."
Watching the hammer fall
Having attended auctions before in his own line of work, the seller was full of praise for how auctioneer Brian Baxter handled the sale on the day.
"It was really good, dealt with at a fast pace, and got more comfortably to where it needed to be. Bryan's really good at reading the room, knowing when to deal with things at pace and when to allow time for the bids to come in."
While summer holidays and wider political uncertainty made for a quieter month than usual, the result still exceeded expectations.
"I would say it exceeded my expectations for the month."
Would he recommend Auction House East Anglia?
For Dominic, the experience reinforced everything he already believed about auction as a route to sale, and confirmed his firm's continued partnership with Auction House East Anglia - with particular thanks to Abbie and Bryan for getting the sale over the line.
"I and Warners Estate Agents would use Auction House East Anglia for other referrals. I always base things on people's track record and how they've performed for me, and that's something I'll always be grateful for."
His advice for anyone weighing up whether auction is right for them?
"Weigh up the pros and cons of what's best for you. Speak to the team, because they're honest with you about price - they're not the type of agent that just wants to get in instructions, they want sales. It is worth speaking to them and at least weighing that up as a really good option."
If you've got a property to sell and want a fast, secure route to completion, get in touch with our helpful team on 01603 505100 or by emailing norwich@auctionhouse.co.uk
