Auction group attracting more estate agent members

News Category: Industry News

Since their last auction in July, when property worth over £ 3.5m was sold, Network Auctions have added three more members to their organistion.

"The increasing uncertainty in the property market has seen major gains all round for us," said director Stuart Elliott. “Potential members – primarily estate agents – want to increase their turnover by adding a new service to their portfolio, which also gives them a vital local competitive advantage. 



“Our model, offering an exceptionally easy way to add an auction arm to a business, without incurring the costs normally incurred with investing in such an expansion, is proving attractive.

“Also, property owners, frustrated by their efforts to sell in the traditional way through private treaty, are increasingly taking the auction route as they know auctions can provide a fast and certain sale. Our members offer them that important local advice and service while we provide the national framework of marketing and organising the sales.”



The latest members to join Network Auctions are Hartwells (Aylesbury and Wing, Bucks and Beds); Marshalls (Royston, Herts); Roberts Newby (Gerrards Cross and Chalfont St Giles, Bucks) and Surelock (Birmingham). There are at five more potential joiners waiting in the wings, said Elliott, who added:

“Our target of reaching 50 licences by the end of the year is well on track,” said Elliott.

“Our next auction in September is likely to reflect the increased activity from our members with what we hope will be a record number of lots to go under the hammer.”

The next sale at Hatfield House is on Wednesday, September 15, starting at 1pm. Sales are also scheduled for November 3 and December 8. Nationally, both the number of lots on offer and the sales rate are down, year on year, according to Essential Information Group, which tracks all property auction sales in the UK.

www.networkauctions.co.uk


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