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Old selling method with a modern twist is becoming increasingly popular

Old selling method with a modern twist is becoming increasingly popular

Andrew Ranson, Stags Associate Partner and Farm Agent, discusses the recent popularity of the online auction platform and why it is the best selling method for some properties and land.

Stags had a very successful year of selling property by auction during 2021, with a diverse and desirable range of property. This included some livestock farms, numerous blocks of woodland, strategic plots of land close to settlements, farmer sized blocks of land as well as lot of highly sought-after smaller amenity pasture paddocks.

Stags Farm Agency department sold 42 online auction listings last year and saw a 100% success rate, with sale prices regularly exceeding all expectations.

During the pandemic, Stags moved from in the room auctions to online auctions, which can produce tremendous levels of interest and are fast becoming a popular choice amongst committed sellers. Farm Agent and Auctioneer, Andrew Ranson, says “the popularity of Online Auctions with buyers and sellers has really taken off.”

He continues, “Stags possesses extensive experience in selling land and farms by both auction methods. It is crucial to be able to spot which properties are likely to sell well by auction and to price them realistically. The national average auction success rate for the last 12 months is currently 80.2%. It is no coincidence that Stags has maintained a success rate above 90% for the last three years. Not all properties, or vendor’s circumstances, suit an auction sale. Stags sell property by all the various methods and can provide professional and unbiased advice over the most suitable option to anyone thinking of selling.”

The auction method works particularly well for:

·         Difficult to value properties (particularly land at the moment)

·         Trustee, executor, charity or complicated family vendors - due to the transparency that auctions bring

·         Vendors in need of certainty and a sale in a timely manner (which has been increasingly difficult by private treaty over the last 18 months)

·         Popular and perhaps individual properties (when sale prices can exceed all expectations)

·         Properties with perhaps a legal or planning uncertainty, as auctions can cut through lengthy and protracted legal negotiations

The keen demand for a small farmer sized block of land was recently highlighted with the sale of a livestock building, straw shed and 17.6 acres on the edge of Grampound (between St Austell and Truro), which was guided at £150,000-£200,000 and sold by online auction for £296,000 (£16,800/ac).

Meanwhile, bidding on 7.25 acres of Devon woodland with a small cabin, near Shebbear, surpassed expectations. It generated over 70 viewings in the first three weeks of the year, selling above its auction guide of £125,000-£150,000, for £180,000.

Many fresh instructions from new clients have recently been launched, some of which are advertised below, and the Stags Farm Agency team are preparing themselves to sell more land by online auction this year. Mr Ranson suggests “Why not take a look at Stags Online Auction webpage, or watch one of the auctions that are ending shortly, it gets quite exciting!”

For a no-obligation appraisal of your land or property whether large, small or unusual, contact your local Farm Agent and Auctioneer, Andrew Ranson, on 07834 032248.