The steps involved in selling a property can prove to be as much of an emotional rollercoaster as seeking, and eventually finding, the right property to buy.

What could possibly go wrong? Scores of things.

To name just a few, coming across time-wasters, unrealistic evaluations and low offers put forward and criticism of the building without any concrete offers. And that is just the tip of the iceberg. It took a good while before I could see the light at the end of the tunnel.

After having entrusted a good number of estate agencies with the sale of my place, the frustration started to mount. My property had been on the market for 16 months, with no tangible results, when I heard about Malta Property Auctioneers from a close friend.

She’d been close to giving up too, but was persuaded to try auctioning her property via MPA by a business associate. The results were, she assured me, unexpectedly great.

This prompted me to get in touch with the company. The auction consultant I dealt with painstakingly explained the process, allaying any doubts or fears I might have had about this seemingly unorthodox way of selling my property.

I was taken through the different steps of this strategy for the sale of real estate:

• An associate from the company would inspect the building to confirm its suitability for sale by auction.

• The next step would be to agree on a fair ‘reserve price’, as it is known. The associate explained that the reserve price would be agreed upon confidentially between myself and the auctioneers. I also found out that the property cannot be sold at a price lower than the established reserve price – it should be sold at the indicated reserve price, or above it.

• If any offers came in before auction, I would be advised immediately and I have the last choice whether to wait for auction or accept and move on.

• The consultant also clarified the fact that an attractive guide price would be set – in other words, a reasonable lower and upper limit would be fixed in order to give interested buyers an idea of the property’s worth.

• I was assured that the only expenses I’d be liable for would be a pre-arranged commission on the sale of the property. All expenses relating to marketing, advertising or notarial fees would be absorbed by the auctioneer.

• The property would immediately be marketed tirelessly across social and traditional media platforms both locally and overseas.

• The consultant went on to detail that, since auction offers are unconditional, and the process is public, the entire procedure is carried out with a great deal of transparency.

• After discovering this, I agreed to sign an exclusive agreement with Malta Property Auctioneers Ltd. I was also informed that other real estate companies would still be able to show my property.

I still did not really know what to expect, but, to my surprise and satisfaction, within days of the property being advertised, I had an unprecedented amount of prospective buyers being shown the house – a good deal more than in the entire 16 months it had been on the market. Also, because of MPA’s split commission policy, other agents also continued to bring potential buyers.

Finally, auction day arrived. I had butterflies in my stomach until the moment for my property to be auctioned came along, but I needn’t have worried. As had been explained to me, the process was nothing if not straightforward. Looking at the ample audience packed into the auction room only increased my sense of confidence.

Still, I must admit that there were a few times during the auction when my heart jumped into my mouth. Soon, the bidding for my house started. I was gratified to see that the interest that had been shown in my property – thanks to MPA’s swift and comprehensive marketing – showed no signs of slowing down.

A number of would-be purchasers put their bids in, and there was a war of sorts. The end result was a very satisfactory price – well above the reserve price originally agreed upon with the auctioneer.

A few months later, after the promise-of-sale period had safely passed, I signed the contract. Needless to say, I was delighted that I had taken a chance on a previously unheard-of sales tactic, and that it had proved to be so successful for me.

Malta Property Auctioneers is approaching its 37th auction, to be held on October 21. It is currently evaluating and accepting properties for its next auction. All the lots to go under the hammer can be viewed on its website at www.maltapropertyauctioneers.com.

Fran Farrugia is a private vendor.