auctions
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Latest property news
Artificial Intelligence firm offers first online binding offers for auctioneers
The online property execution platform, Clicktopurchase, has released ‘gAbi’, claiming to be the world’s first Artificial Intelligence operating property auctions.
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Latest property news
All good cheer at Andrews & Robertson
Andrews & Robertson ended its 2017 calendar of auctions on a high with a strong 82 per cent sale.
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Latest property news
New online property auction site aims to ‘Ebay for agents’
An online property auction has launched that enables agents to sell and rent out homes using a virtual service via its smartphone app and website. Called LetsBid, it bypasses traditional auctions and enables buyers and tenants to bid for properties that have been uploaded to the site by agents. Sales and letting agents are able to set a guide and reserve price, as they would at a traditional auction, but also see who is bidding on properties or has shown an interest by downloading property details. Also, potential tenants are pre-referenced using online service Lets Safe to ensure bidders aren’t then rejected after winning an auction. The company’s CEO Milton Rodosthenous (pictured, left) says that unlike other rental and sales property market ‘disruptors’, LetsBid aims to enhance an agent’s marketing offering rather than seeking to replace it, as US site RentBerry, which is due to launch in the UK soon, does. “In effect, we act like an estate agent’s virtual or remote auction department, enabling them to become an auctioneer overnight,” he says. Vetted agents “Lots of proptech seems intent on taking business away from agents but we believe they still have the biggest part to play in property, so…
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Latest property news
Fine & Country signs up to IAM Sold ‘modern method’ of auctions
Fast-growing auction provider IAM Sold has signed up its first prime property agent, Fine & Country, and is preparing to roll out its white-labelled service among the agency’s participating franchisees early next year. The deal will add Fine & Country’s 200 franchised branches to IAM Sold’s existing network of 1,900 branches. The Park Lane based prime property market agency brand, which shares a parent company with The Guild of Property Professionals, made the decision to sign up with IAM Sold because it believes auctions are no longer the preserve of the lower end of the property market. Fine & Country has already sold its first property through an IAM Sold auction, despite the ink still being wet on the contract. This was a four-bedroom Edwardian detached house in Longfield, Kent (pictured) which, after 21 viewings and 34 bids, sold for £1.562 – 84% over its £850,000 starting price. “We are very excited about our partnership with IAM Sold,” says David Lindley, CEO of Fine & Country (pictured, left). “The modern method of auction is no longer reserved for homes at the bottom end of the market. Some of our sellers need to move quickly, so Fine & Country Auctions is…
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Features
Why auctions are the answer in lean times
Uncertainty in the market, says Louise Jeffries, is actually a great opportunity to bring positive change and new services to your business.
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Latest property news
Moore Allen and Innocent’s £1m half hour
Charlcutt Barn near Calne was one of the highlights of an auction in Cirencester on 30th March, when nearly £1 million worth of property was sold in under 30 minutes by auctioneer Roy Bowyer of Moore Allen & Innocent.
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Latest property news
Auction figures fall but there are positives!
Auction activity reported in the EIG’s (Essential Information Group) March newsletter looks back at residential auction activity in February and the preceding periods.
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Latest property news
Network Auction conference inspires agents
Network Auctions held its Partners Conference on 18th January at The Grosvenor House Hotel in London, following a record year with over £42millon raised and a success rate of 85 per cent. Their partner network has also significantly grown as more estate agents have learned about the benefits of working with the network to sell through auction. Members met colleagues from across the country and to hear from Toby Limbrick, Director, about identifying properties suited to sale through auction either in one of the Network Auctions regular sales in London or Birmingham or through their exciting new online sale channel, Network E. Richard Worrall gave an inspirational presentation on ‘The power of why’ which explored why people buy products and services – focusing on the success of Apple and what we can all learn from their methods. Sam Ashdown, (main photo) a digital marketing expert, gave lively presentation on Prediction Marketing, which changes the way you approach potential clients to gain the ones that you can really help and avoid the ones that are not, perhaps, suited to your agency! Perry Power, a young dynamic estate agent and a member of Network Auctions enthused members with his unique business strategy,…
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Latest property news
43% of auction sales now going to home buyers, claims IamSold
Online auction house IamSold says half of purchasers using its platform are home buyers rather than investors, and that more agents are using auctions in their instruction pitches as online-only, hybrid and proptech companies continue to disrupt their traditional agency models. Data from IamSold reveals that it has seen a 55% uplift in value of homes sold through its auctions while the number of homes sold has increased by a third. This is evidence, the company claims, that both more agents are using auctions and that more upmarket properties are also going under the gavel. “As agents continue to build auctions into their marketing package, we are also starting to see a major shift in public perception,” says Jamie Cooke, MD of IamSold.co.uk (pictured). “Our stats from last year show a significant proportion of consumers turning to auction to buy property for their own use with almost a direct split between cash and mortgaged purchases – 43% of buyers bought for owner occupation while 47% purchased for buy-to-let purposes, and 10% bought to re-sell. “This is very different to a few years ago, when auctions were almost solely the preserve of cash buyers; typically larger investors and portfolio landlords.” These bullish figures…
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Features
Why phone bidding at property auctions can be a tough call
Symonds & Sampson’s September auction was packed with bidders for 23 lots in Dorset and Somerset.
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