Auctions giant SDL is trialling ‘zero selling fees’ at its next event in Manchester, the first time it has done so at one of its main auctions directly to consumers.
SDL is spending considerable sums on print (above) and online adverts for the auction which heavily plug the ‘fees free’ element of the auction which is to take place on 9th December at the AJ Bell rugby stadium in Salford.
Until now ‘fees free’ deals have been used largely to help estate agents market auctions to vendors, rather than as a direct offer.
The company’s national sales chief Jason Lee (left) told The Negotiator that the rise in popularity of online property auctions has been a key reason to make the move, and that it has listened to what its customers want.
“The Manchester event is shaping up to be a big success and if it is, we’ll consider whether to roll the idea out to other auctions,” he says.
Buyers normally pay a £1,074 reservation fee but with a ‘no fee’ deal they instead pay the seller’s fee on top in order to purchase properties at SDL auctions, taking their costs to at least £6,000.
As well as a promotional marketing tool, the aim of the ‘zero fee’ auction is to persuade more traditional vendors who would otherwise use an estate agent to instead consider using an auction.
“Auction is the preferred method of sale in other parts of the world but it’s still not always the first choice for homeowners in this country,” says Andy Thompson, head of SDL’s North West operation.