SDL Auctions has revealed that the number of properties sold in partnership with estate agents has doubled. Since February 2020, the live stream auctioneer has seen a 220 per cent increase in the amount being paid out to estate agent partners, which they receive within seven days of a sale being agreed.
The news reflects a growing trend of estate agents working in partnership with the auctioneer rather than in direct competition, which managing director and auctioneer Andrew Parker says is a win-win situation for all parties, “Buyers, sellers and agents all benefit from the speed, transparency and certainty of auctions. From an agent’s point of view, it means they can turn properties around much more quickly than on the open market, reduce the risk of the sale falling through to almost zero – and don’t need to wait months to get paid.”
As the February national property auction came to a close, more than 200 commercial and residential lots had been sold and £23.7 million raised for sellers – a 27 per cent increase year on year.
A family home in Leicester, high-yielding investment in Manchester and a London maisonette were among the properties sold under the hammer.
Since the pandemic began, SDL Property Auctions has run an uninterrupted auctions schedule, holding live-streamed national property auctions on the last Thursday of each month with remote bidding and single-lot timed auctions on its website every day.