Selling your house at auction vs a private sale

The pros & cons of selling your house at auction 

Selling your house at auction has a number of advantages in terms of speed and certainty of sale, but it also has a few potential drawbacks that you need to be aware of too. Selling a house at auction (UK) isn’t right for everyone, but if it works for you, it could be a quick and easy solution to your house sale.

The pros of selling a house at auction

• An auction sale is usually faster – selling your house at auction vs a private sale can save you several months. An auction sale takes around two months to complete if you sell for the first time. You need to register your property at least three weeks before the auction, to allow for marketing, and if you find a buyer, contracts will be exchanged on the day and the sale will be completed four weeks later.
• An auction sale is guaranteed – because contracts are exchanged on the day of the auction, there’s no risk of the buyer pulling out, as there is with a private sale. Around a third of all open market sales fall through, whereas auction sales are much more secure.
• An auction sale can achieve a great price – if there’s considerable interest in your property, this can spark a bidding war which will drive up the price. Competitive bidding is common at live auctions, especially when buyers are in the same room. A good auctioneer will be able to capitalise on this to get you more than you expected for your property. 
• An auction sale can shift a problem property – auction sales attract cash buyers, property developers and investors, as well as DIY enthusiasts. This means that you can sell a home at auction that would be hard to sell on the open market. This includes homes in need of serious repair or renovation, homes with damp or subsidence issues, and even homes that are considered un-mortgageable.
• An auction sale generates interest – an auction can create interest in a home that might otherwise struggle to stand out on the open market. The auction house will market your property to a database of prospective buyers and generate a level of interest that you would never get from an estate agent sale.
• An auction sale puts you in control – with an estate agent sale, you often have to trust your agent to negotiate on your behalf, and this can leave you feeling out of the loop. Auction sales are transparent, and you will have much more control over the sale that you do with an estate agent.

The cons of selling at auction

• You may not sell at auction – there is no guarantee that your home will sell in any given auction. Even the best auction houses don’t sell 100% of properties, and most average around 60-70%, so there’s a one in three chance that you won’t sell. If this happens, you’ll still need to pay auction entry fees, and you’ll have to pay again to relist in the next sale.
• Auctions may only attract bargain hunters – auctions have a reputation for selling harder to sell properties, and so they tend to attract bargain hunters who expect to pay a little less. This can make it hard to get a reasonable price for your property. It’s well worth using our independent reviews to  check out an auction house and see the kind of properties that they handle before you make your choice of who to sell with.
• You may not get what you hoped for – just like on eBay, people buying at an auction expect to get a bargain, and so you’re unlikely to get the full value for your property. You can set a minimum or ‘reserve’ price, but there’s no guarantee you’ll get any more than this, and if you set this reserve low, to attract more interest, it could catch you out.
• You’re committed to the sale – once the hammer falls on an auction sale, you can’t change your mind, even if you’re disappointed with the price. If your circumstances change, your ongoing purchase falls through, or you simply decide you don’t want to sell, you’re still committed to the sale.
• You have to move fast if you sell – the speed of an auction sale can work against you if you’re in a chain or you’re not ready to move fast. With an estate agent sale, you can negotiate the completion date, but with an auction sale you have to be out in 28 days.
• Auction sales can be expensive – auction sales can be as expensive as selling via an estate agent, and sometimes even more so. You’ll have a number of costs, including preparation of a legal pack, auction entry fees, auction commission and solicitors’ fees and these can quickly add up.

To read our independent reviews of the best UK auction houses, click here. Or to get a free auction appraisal for your property, with no obligation, click here.

The pros and cons of selling your home privately 

Selling a house via an estate agent is the most common way to sell a home in the UK. This method has a number of advantages, including getting professional help to sell your home, but it also has some significant disadvantages, including the time it takes and the cost involved. 

The pros of a private sale with an estate agent

• You work with property professionals – with an estate agent sale, you’ll be in the hands of property selling professionals from the start. Estate agents have successfully sold hundreds of properties just like yours, and they have the training and expertise to back up that experience.
• Local market knowledge – a local estate agent will understand the local market in depth. This means they can price your home right and they know all the benefits of living in your area, and they can use these to promote your home.
• You’ll achieve a higher selling price – by selling with an estate agent, you’ll often get full market value, and occasionally a little more on top. Even if you negotiate down a little, you’ll still get more than an auction sale or by selling your house to a fast cash buyer.
• They handle everything for you – your estate agent will take care of every aspect of your home sale, from arranging the photographs and listings, to conducting viewings and negotiating with buyers. You can only get access to property portals like Rightmove and Zoopla through an estate agent.
• They do the difficult negotiating – being British, many of us feel awkward talking about money and we don’t enjoy negotiating. It feels even worse if your emotions come into play when you’re selling your beloved family home. An estate agent will handle all the negotiations for you to help you get the best price.
• They keep your sale moving – selling a house on the open market can be a very slow process, so you need to keep up the momentum wherever possible. A good estate agent knows all the typical sticking points and will work hard to keep things moving while you focus on work and family commitments.

The cons of a private sale with an estate agent

• Private home sales are slow – according to Government figures, selling a house on the open market takes around five months on average. Unless your home is very desirable, or in a sought-after area, it can often take much longer than that, and there’s little you can do to speed things up.
• Valuations may be exaggerated – estate agents will often tell you what you want to hear when it comes to property values. They’ll exaggerate the value to secure your business, knowing full well that you’ll never get that much for your home.
• Commission rates are expensive – estate agents generally work on a commission basis, charging anything from 1% to 3% of the property price. Zoopla research shows that the average UK house price was £263,600 in Feb 2025. That means you’ll pay between £2,636 and £7,908. Estate agent fees are also liable for VAT, adding an extra £527 to £1581 to the cost.
• Sales are not guaranteed – according to the Homeowners Alliance, 28.8% of residential property sales fell through in 2024, leaving the average seller as much as £2,727 out of pocket. If your sale falls through, you could be back to square one and you’ll have to restart that five-month clock all over again.
• Competition from other properties – listing your house with an estate agent means listing it next to all the rival properties for sale in your area. If a potential buyer doesn’t like the look of your home for any reason, they’ll have a host of alternative properties right in front of them. Your agent just wants a sale, they don’t specifically want to sell your home. 
• They have a foot in both camps – sometimes, it can be hard to know whose side an estate agent is on. You’re paying them to work for you and to sell your home, but all too often they seem to be working for the buyers to win their business.

Making the right decision 

As we discussed at the start, the choice between selling your house at auction vs a private sale very much depends on your circumstances and what you need from your sale. Do homes sell quicker at auction than a private sale? Yes. Do you get as much selling your house at auction vs a private sale? Probably not.

To decide between selling your house at auction vs a private sale, you need to be clear about what is most important to you and where your flexibilities lie. If you’re patient and have the luxury of time, then you can sell on the open market and get close to, if not above market value for your home. However, if you’re in a hurry and can afford to accept a little less for your home, then an auction sale may be your better option.If you really need to sell fast, even an auction sale will not be as quick as selling your home to a cash buyer. With a cash home buying company, you can sell your home in as little as 14 days, leaving you free to get on with your life, put your financial or relationship worries behind you and start afresh. You’ll only get around 80% of the market value selling this way, but there are no estate agent fees or auction commission to pay and often no legal costs either. To see how much a fast cash home buyer would pay for your home, with no obligation to proceed, click the button below:

Expert Insight from Kelvin Elliott