A leading property firm has claimed that traditional auctions offer a more transparent and secure way to sell properties, saying the practices outlined by the recent Panorama programme are one reason selling ‘under the hammer’ is gaining popularity compared to private treaty sales.

Oliver Prior (main image), National Commercial Director of Auction House is the latest industry figure to call out Connells’ conditional selling practices revealed by Panorama, and the practice of offering high valuations to gain sales that the programme revealed Purplebricks has in the past been involved in.

Prior says: “Although not all estate agents can be tarred with the same brush, and there are numerous reputable operators within the industry, many of whom we work alongside.

“Auction House welcomes the spotlight being shined on those who perpetuate unsavoury practices and give the industry a bad name.

“As with most industries, there are providers who adopt a client-first approach and those who prioritise profit over reputation and commitment to service.

“A traditional auction presents a clear and transparent process to everyone involved.

“A traditional auction presents a clear and transparent process to everyone involved.

“Whether the auction is being held online, via livestream or in-room, interested parties can watch the bidding in real-time and see for themselves what the property is selling for.

“In the past, there has been a misconception that there is a level of risk when selling by auction, which couldn’t be further from the truth.

“The over-promising, and subsequent slashing, of house values demonstrated within the Panorama coverage left sellers feeling manipulated and out of pocket.

“However, when selling a property by auction, the market determines its value, not the agent.”