Slow conveyancing and rising fall-throughs ‘driving auction adoption’
So says Bamboo auctions as its signs up its latest big estate agency, 15-branch Home Counties firm Michael Graham.
A leading regional estate agency is the latest to sign up with online auctions specialist Bamboo, whose boss says increased fall-through rates and slow conveyancing speeds are persuading more agents to use auctions.
Bamboo is now powering the online auction offering from Michael Graham, a 15-branch Home Counties property firm, the first time it has used auctions.
The estate agency’s Marketing and Operations Director, Carly Freestone says it has seen increasing demand from clients looking to sell their properties with a quicker turnaround.
“Adding an auction service enables faster transactions, particularly for chain free clients,” she says.
“We’ve already had a lot of interest from clients and have a number of listings which are gaining some excellent traction on the Bamboo platform.”
CEO Robin Rathore (main image) tells The Neg that while slow conveyancing has been a factor in persuading more vendors and agents to use auctions, “the rise in fall-throughs is also contributing to the move towards auction.
Conveyancing
“People are also anticipating that conveyancing will take a long time and therefore are going towards auction from the outset, rather than switching methods of sale halfway through a transaction.”
Bamboo Auctions provides estate agents with the technology to power their own online auction offering and agents can list, control, and manage their own auction service, listing properties for sale by online auction at any time.
During the first half of this year, Bamboo reported a 31% increase in the number of properties being listed by its agent partners for sale by online auction, when compared to the same period last year.
