Agents Property Auction, a business founded just nine months ago, has got off to a cracking start this year.
The business, headed by auctioneer Richard Francis, runs auctions for six estate agents in the north-east, with 50 offices between them.
Out of 55 properties offered at auction in Newcastle by Michael Poole Property Consultants, 46 sold – an 86% success rate. Michael Poole, pictured, said he was delighted with the results.
Francis said: “It has been beyond my wildest dreams and we are simply amazed at the success we have achieved in so short a time.”
The partner agents of the Agents Property Auction are Michael Poole Property Consultants, Andrew Craig, Cumbria Properties, Kimmett & Roberts, Rook Matthew Sayer, and JW Wood.
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Comments
I think that the lender's shame should be that they willingly lent these people more than they could afford to repay. And this with 0.5% base rate...
SR, I think Richard may think market value is how much
some sucker will pay over the odds when faced with mystery
"other interested parties" and an initial 25% mark-up.
Let's hope these auctions can be rolled out across England & Wales, removing the need for EAs at the [mis-] valuation and "negotiations" stages.
“Your home is at risk if you do not keep up repayments on a mortgage or other loan secured on it”.
@Richard
define market value
Are they publishing stats about how far below market value they were sold at and how many poor folks debt on repos got bigger because they undersold? Shame on the lenders really.