Serving Notice to Your Estate Agent: A Key Step Before Selling at Auction

Selling your property at auction is a serious commitment. Once the gavel falls, the deal is legally binding. That’s why it’s crucial to align all your marketing efforts under your chosen auctioneer. One of the first steps is ending any ongoing relationship with your estate agent.

Here’s what property owners need to know:

1. Why you need to serve notice

   
   

   To avoid mixed marketing messages, your property must be removed from estate agent listings such as Rightmove and Zoopla before going to auction. This ensures all enquiries go directly through the auction house.

2. When to do it

   
   

   Typically before signing the auctioneer’s terms of business, so exclusivity can begin.

3. What estate agents may say

   
   

   They might claim renewed interest or ask for one last chance to find a buyer. But remember, private treaty sales can fall through. Auctions provide certainty.

4. How to serve notice

   
   

   Thank them for their efforts

   
   

   Confirm you’re ending the agreement and request immediate removal of listings

   
   

   Ask for written confirmation of your instruction

   
   

   Check for any notice period or cancellation fees in your contract. Some agreements may include a notice period even after the fixed term ends.

5. Avoid last-minute price reductions

   
   

   Lowering the price during the notice period isn’t helpful. Auction guide prices are designed to attract competitive bidding, which pushes prices up. In private sales, negotiations tend to go down.

Takeaway

Serving notice is a necessary step to ensure a clean transition to auction. Stay firm, follow the process, and trust in the auction system’s power to deliver a strong result.