Fine & Country has expanded its service offering with the launch of Fine & Country Auctions, giving vendors an alternative route to market that combines the brand’s premium marketing with the speed and certainty of traditional auctions.
The new service will be led by auction specialist Ray Purchase (main picture, inset), Managing Director of Fine & Country Auctions, and will provide sellers with access to a dedicated auction platform designed to reduce fall-throughs and deliver fixed completion timescales.
Unlike multi-agency auction platforms, Fine & Country Auctions will hold an exclusive auction on the final Thursday of every month featuring only properties marketed by the Fine & Country network.
The company says the approach is intended to maximise exposure for each listing while creating a more focused experience for buyers.
REDUCED TRANSACTION RISK
Traditional auctions require buyers to exchange contracts immediately when the hammer falls, alongside paying a 10% deposit and buyer’s premium, creating a legally binding commitment.
Fine & Country says this significantly reduces transaction risk, with traditional auction sales typically experiencing fall-through rates of less than 1%.
Sellers will be able to choose between 28-day and 56-day completion options, depending on their circumstances and the type of buyer they wish to attract.
CERTAINTY AND SPEED
Purchase says: “Fine & Country Auctions has been created to give our network and their clients another powerful way to achieve a successful sale. The property market is changing, and sellers are increasingly looking for certainty, speed and confidence in their transaction.
“Traditional auction provides exactly that. Once the hammer falls, the buyer is committed, contracts are exchanged and the seller has a clear route through to completion.
“It removes many of the uncertainties associated with private treaty sales, such as broken chains, renegotiations and buyers withdrawing late in the process.
“Our aim is to combine the strength of the Fine & Country brand and its exceptional marketing with specialist auction expertise, creating a premium auction service for vendors across the UK.”
EXTRA REVENUE STREAM
The auction service has also been designed to provide an additional revenue stream for Fine & Country licensees, who will receive a 2% referral fee on every successful sale, paid within seven days of the auction.
Local agents will continue to manage property marketing and viewings, while the specialist auction team will oversee pricing, legal packs, buyer management, auction delivery and sales progression through to completion.
Nicky Stevenson, Managing Director of Fine & Country, says: “The launch of Fine & Country Auctions reflects our commitment to continually evolve our services and provide our network with innovative ways to support their clients.
“Our offices already deliver outstanding results through premium marketing and local expertise, and traditional auctions provide another valuable option for sellers who need certainty and a defined timescale for completion.
“Fine & Country’s national network, premium positioning, and trusted reputation provide the perfect foundation for a dedicated traditional auction offering.
“We can now give vendors access to a specialist auction service while maintaining the high standards and personal service they expect from the brand.”
