#231Join our WhatsApp  group Giveaway from Hammered (worth £1,000)Recent episodes have demonstrated that the UK property market is currently experiencing significant challenges.Properties remaining unsold for monthsRising costs and reduced buyer activityUncertainty around the renters rights bill The Impact of stamp duty changes and Section 24 have all contributed to traditional sales methods becoming sticky or protracted.One solution is selling at auction. Which is what this episode is all about.Piotr Rusinek is co-founder of Hammered, UK property auction consultants, and co-author of Before the Hammer Falls:  The Insider's Guide to Property Auction Success The Seven Tips discussed in the episode:Tip 1: Decide if Auction is Right for YouThe trade-off between speed, certainty, and priceWho should consider auction sales (motivated by speed and certainty rather than maximizing price)Drawbacks vs. using estate agents or cash buying companiesTip 2: The Right Property Type for AuctionAuction suitability for distressed propertiesProjects and properties requiring refurb Less suitable for owner-occupiers Tip 3: Selecting the Right Auction HouseNot all auction houses fit all asset typesImportance of auctioneer’s buyer database / marketing focusRisks of choosing wrong auction houseBenefit of professional guidance (e.g. Hammered)Tip 4: Creating Buyer Excitement and Showing Value-Add PotentialShowcase development opportunities (extensions, loft conversions, etc.)Photographs, floor plans, CGISubtly indicating potential to let buyers feel they discovered it themselvesTip 5: Setting a Low Reserve PriceThe importance of a low reserve for driving competition and excitementBalancing risk and reward with reserve price strategyReserve price recommendations (~70-75% of market value)How emotional bidding can drive prices up beyond trader expectationsTip 6: Preparing a Bulletproof Legal Pack and Using Auction-Savvy SolicitorsComprehensive legal pack Auction-savvy solicitors Timing legal pack uploads (not too early / too late)High-quality property photos / marketing materialsTip 7: Embracing the Auction CycleUnderstanding auction cycle Interpreting buyer activity, pre-auction offers, and data analyticsDealing with properties that don't sellExclusive Property Engine discounts (Code: EXPAT)Starter package: 30 day trialPro package  30 day trial, then 3 months 1/2 price, Ultimate package, 1/2 price 3 monthsI'd Like Help With Setting My GoalsLeave a reviewJoin our WhatsApp  group / access  37 Question Due Diligence Checklist / 23 Step Guide to Buying Property at AuctionInstagramKeywords

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