Network Auctions’ London auction on 22nd February brought the total raised in partner agent commission fees to over £100,000 in the last month, “proving the business model of the partner agency model works,” says Toby Limbrick, Director.
The auction at The Grosvenor House Hotel, Park Lane attracted lively and competitive bidding from in the room, online, proxy and via telephone.
Popular lots included a two-bedroom Eco home in Milton Keynes which sold for £202,000 against a guide of £165,000, an extended four-bedroom house in Braintree which sold via proxy at £240,000 against a guide of £210,000 and a detached stone-built Mill House and potential development site in Oxfordshire which sold for £1.25 million.
The sale exceeded market expectations and raised a total of £7.1 million and a success rate of 68 per cent.
In the last month, Network-E, the online auction platform has successfully sold an additional five properties accruing commission of £35,000 for partner agents.