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Course Overview

This course has been written in conjunction with iamsold, who specialise in Auction nationally. The content is designed to help you understand the processes at auction and the difference between selling at Traditional Unconditional Auction compared to selling at Conditional Modern Auction. It will help you gain confidence in advising Auction to Vendors and understand the importance of always offering the right method of sale to suit the Vendor’s needs.

What You Will Learn…

• Describe the traditional and modern methods of auction and the advantages and disadvantages
• Understand the different types of Sellers and their motivation to sell at auction
• Understand the types of property suitable for sale by auction
• Describe the process of bringing a property to auction
• Summarise the documentation found in an auction pack and why buyers should review it
• Explain the procedures for preparing for marketing a property at auction
• Summarise the key differences for pricing a residential property for auction to pricing a property for private treaty
• Understand the importance of monitoring the level of interest prior to the auction date and what happens if there is little interest
• Understand the different types of buyer and property financing
• Explain the difference between fees and deposits when agreeing a sale at auction
• Explain the importance of ensuring all parties are aware of agreed timescales and the consequences of breaching the agreements
• Describe actions to be taken if a property does not sell at auction
• Describe what happens if a sales fall through following an auction and how to prevent it
• Understand the sales progression process and dealing with any problems after the sale agreed at auction