Hunters and Fisher German are the latest agencies to offer online auctions to vendors.
An announcement from PropTech property auction company Bamboo Auctions says the sign up of these two agencies means it now provides over 250 agency branches with access to white label auction services.
Hunters will use Bamboo Auctions’ technology across its 200 strong franchise network, adding to the 16 in Fisher German, which has just launched its platform along with its new website.
“Online auctions offer numerous advantages for us and our clients and given the transparency of the process and the high level of visibility, I foresee huge growth in this method of sale” explains Stuart Flint, partner in charge of transactional business at Fisher German.
“The system allows our private clients to enter appropriate lots all year round, alleviating the need to wait for an appropriate collective auction but it is perhaps our corporate clients and other institutions we act for who may see the greatest benefit. These clients in particular will see the advantages of this open pathway to sale and probably the ultimate test of market value attainment.”
Prospective buyers can search, register and bid for properties online through Bamboo’s website as well as access each individual agency properties through their respective websites.
Bamboo’s chief executive Robin Rathore says: “Asides from being more cost effective and delivering more value for money for agents, one of the major attractions … is that we do not disrupt the agent’s relationship with their vendor. We believe that an agent’s good reputation is one of the cornerstones to their success. There is no substitute for a handshake in this industry and we recognise that. Instead, we provide the technology, support and know how to make agents' jobs more efficient."