Following increased interest and demand from its prime country property customers, national firm Chartwell Noble is to employ online auction technology from Bamboo Auctions to offer its first auction, claiming it will boost sales of properties which are ideal for this method of sale.

Ross D’Aniello, Managing Director, Chartwell Noble Estate Agents, said: ‘’With a large volume of clients coming to us with ideal properties for auction, we want to offer a service and work with a partner that aligns with our values as an agency, consistently providing the very best service, with innovation at our heart.

“Partnering with Bamboo Auctions has given us the opportunity to offer our own auction service, retaining full control of the sale but powered by their market leading technology. Speed, transparency and certainty of sale mean that clients who have already used the service have been really impressed, with positive outcomes for all parties.

“We look forward to building our auction offering further with the continued support of Bamboo.”

Auction sales are up

During the past 12 months, Bamboo Auctions has seen a 27% increase in the number of properties being listed by its agent partners for sale by online auction. With average private treaty transaction times in the market now over 6.5 months – for properties over £1.5m the average transaction time is 8.5 months – agents are looking for other ways to sell properties faster, with more certainty, delivering greater value and a faster selling alternative for their clients.

For estate agents, the turnaround time to completion is reduced to between five to six weeks, earning them their fee almost 80% faster than a traditional sale.

Robin Rathore, CEO, Bamboo Auctions, added: “We’re delighted to be working with Chartwell Noble. With such a strong reputation in their market, we are pleased to be an integral part of their ambitious plans as they expand their offering.

“Being able to expand their existing offering with an online auction service is fast becoming a popular choice for agents all over the UK. Integrating our technology is quick and easy, and we provide full onboarding support so agents can provide the best quality of service to their clients.’’