Exploring Buyer Reservation Deposits
In a standard auction sale, buyers must pay a Reservation Fee upfront. In some circumstances, it creates a financial hurdle that may prevent the purchase from proceeding.
“We like the auction service as it gives our clients a different approach when they’re looking for a speedy and secure sale”
Stuart Matthews, Managing Director, Miller Metcalfe
Miller Metcalfe is an independent Estate Agency with branches around the North West, operating in residential sales and lettings. The team has worked with us for the last 3 years across its branches to offer clients auction services.
Managing Director Stuart Matthews said: “I love working with iamproperty because it’s like an extension of our team. We get weekly updates and also regular branch visits, which really helps the team.
“iamproperty saves us time because the sales progression element can be quite time consuming and they take over all of that, so it frees up our team to do other things.”
“iamproperty helps us to achieve our goals because of the quick turnaround times. The 56-day* completion timeframe of the Modern Method of Auction service is a lot faster than the average completion time in our area.
“A standout success was an auction sale which saw one client achieve over £56,000 above the guide price which is obviously excellent. We like the auction service because it gives our clients a different approach when they’re looking for a speedy and secure sale.”
“You should contact iamproperty if you are looking to extend your team without the need to recruit. You’ll have your own white labelled website and collateral and it’s a really successful relationship and collaboration.”
*Based on standard properties. From receipt of draft contacts.
In a standard auction sale, buyers must pay a Reservation Fee upfront. In some circumstances, it creates a financial hurdle that may prevent the purchase from proceeding.
Conditional Auction, also known as The Modern Method of Auction (MMoA) offers a flexible, transparent, and secure alternative to Private Treaty, MMoA is growing in popularity.
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