AUCTIONS
Auctions: A route to market for you? Joining an auction network could bring increased business and revenues.
O
ver 35,000 properties go to auction every year and in spite of the doldrums in the housing market, public awareness of the auction process is growing, driving
a trend towards auctions as a mainstream route to sale for residential property. While there are major names like Allsop,
Countrywide, Savills and Sequence which have dominated the auction market, traditionally, auctioneers have been small, family firms running on a local basis. This worked well in the days where property was bought and sold locally, but now, with property portals displaying homes, land, commercial and investment properties in every corner of the country to potential buyers across the world, the small auction house can struggle to achieve market share. When marketing auction services and,
indeed, the lots themselves, it is no longer a question of a regular advert in the local press. Information is expected instantly; online viewing, planning and bidding have all changed the game. When it comes to instructions, larger
firms like Allsop and Countrywide have a powerful position with their contacts with major mortgage lenders who recycle repossessed homes through auction and with major landlords filter properties through them as they rationalise their inventory. So smaller firms may have to
battle even to have enough instructions to put on a credible sale. Enter the concept of the auction
network. A simple enough premise that brings together independent auctioneers under one marketing umbrella, with modern, fully functioning websites, training, national support and international marketing and PR. A slightly different business model is
designed to offer estate agents – who have never been involved in auctions to any great degree and have little knowledge of preparing for or conducting an auction – a new and lucrative revenue stream and perhaps a whole new business.
The auction networks offer impressive
national marketing, simple systems, support and encouragement and a flow of properties from sellers who find their website way before they would find a smaller operator. The concept is clearly attractive and the
networks are very confident of major growth and success, but it is early days and with the recession, as David Sandeman’s report in this magazine shows, auctions have seen a downturn just as ‘normal’ property sales have, so it is, perhaps, a little early to break out the champagne. However, it looks like the model is set to
grow as the (promised) recovery starts to become a reality.
Guy Charrison
The auctioneer in action – charming and cajoling bidders!
NETWORK AUCTIONS Guy Charrison, one of the UK’s best known and leading property auctioneers, is Chairman of the National Association of Valuers and Auctioneers (NAVA) and of course, a highly vocal evangelist of the auction system. He is also a founding director of Network Auctions, one of two major players in the network system. Auction Networks is a young company
but with fellow directors, Toby Limbrick, Stuart Elliott and Mike Limebear, the firm has over 100 years experience in auctions. The estate agent firms join Network
Auctions as partners enabling them, wherever they are based, to offer an
PROPERTYdrum SEPTEMBER 2011 47
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