Auction House puts increased success rates down to regional network

Award-winning property auctioneer Auction House is putting its increasing success rates down to its network of 40 regional sales rooms around the UK, each of which supports its own local area.

The group’s sales figures for April 2017 indicate a 74% success rate – a 2% jump compared to the same period last year – despite additional levels of uncertainty caused by Brexit and the forthcoming General Election.

Auction House Founding Director Roger Lake said: “Our 40 conveniently-located auction rooms around the country mean we attract bigger than average audiences compared to other auctioneers. That means we typically get 10 people in the room for every lot we offer. That’s a key differentiator for us which helps providethe right competitive bidding environment for our sales to do well.

“What’s more, our experience shows us that local buyers pay more than London investors because they are more motivated and buy for a purpose. A number of them purchase for their own occupation and so don’t have to factor in a profit margin.”

Roger Lake also says that Auction House aims to make auction available in all parts of England, Scotland and Wales, so properties that would suit sale by auction can be offered to a local audience.

He explains: “Auctions are becoming more mainstream; it’s the transparent, more efficient and much faster way to sell. We regularly deliver an exchange of contracts within 4 weeks of being instructed – which is three times quicker than the current estate agency average.

“I believe everyone should consider selling under the hammer because for over 10% of sellers, it would in all likelihood deliver a better price. Not only that, but auction enables them to meet their time deadlines and move their lives forward, rather than being left in limbo - as is so often the case when selling a property through estate agents.

“The truth is that whilst the General Election appears to have slowed private treaty sales, it isn’t affecting our auction numbers. And the continued improvement in our success rate indicates that regional property auctions have a very positive future.”