An online auction service which only came into existence in September last year claims to have 150 partner estate agents already, with a target of 300 by the end of 2019.
Whoobid says it aims to make online property auctions quicker, more affordable and more secure for UK buyers and sellers.
The company was founded by Doug and Alex Haigh, two brothers from Bournemouth, who say they saw “an opportunity to modernise the traditional auction process.”
As with other Modern Method of Auction services, Whoobid allows estate agents to offer no fees for sellers. “This enables high street agents to compete successfully with the traditional auction houses and online agents” says a statement from the online operation.
Whoobid says it now has expanded to become a 10-person team, mostly with “estate agency backgrounds with a breadth of industry knowledge and experience providing confidence and credibility in the property market.”
Whoobid aims to provide what it calls “a complete national coverage that allows agents, sellers and buyers to successfully auction and sell their properties online.”
Alex Haigh, the operation’s director, says: "We work hard to build relationships with our partner agents, ensuring we are on hand every step of the way to provide a complete package and this shows in the referrals, sales and on-going business we are seeing. We have a steady growth plan in place and we are excited to see where Whoobid will be in the next six months.”
Last month The Property Ombudsman, acting in concert with the National Trading Standards Estate & Letting Agency Team, issued a change to its Codes of Practice requiring agents to explain to customers both the benefits and disadvantages of their recommended method of transaction at market appraisal stage.
MMA has been criticised by consumer bodies and some agents in the past because of an alleged lack of transparency over the fees, which are often £5,000 plus VAT and which are levied on buyers; these fees go to the auctioneers and agents.
The strong performance of the auction market in recent months has...
Humberts is the latest estate agency to announce that it’s going...
Three key industry organisations have endorsed a best practice guide for...
Iamproperty, which champions the so-called Modern Method of Auction, has announced...
When we talk in general terms about the UK housing market,...
The plight of the nation’s first-time buyers may be the focus...
Dog-owning house buyers who want to live in areas of abundant...
From the uptick in house sales in January to a house price...
Happy birthday to us….and all members of the The ValPal Network! We...
With a combined value surpassing £7.4 trillion, the UK’s 29 million...
Let's be honest – landlords are the lifeblood of any letting...
%20-%20IMAGE%20Client%20Accounting%20%E2%80%93%20what%20are%20your%20options.jpg)
The benefits for letting agents to outsource their client accounting is...
When almost all agents and developers use the tried and tested formula...
I think we can all agree that the National Trading Standards...
.png)
As domestic battery storage systems become increasingly prevalent in UK homes,...
.png)
A team from The ValPal Network joined industry Facebook ads expert...
.png)
In this interview, Riccardo Dawson, Chief Operating Officer at Alto and...
A client account is essential to your lettings business, but the...
%20(002).png)
In today's fast-paced and ever-evolving property industry, it’s essential that forward-thinking...
As electric vehicles increasingly populate our roads and the necessity for...
As estate agents, it is important to make sure that your...
Estate agency has changed. No longer is it required to sit in...
Changes to consumer behaviour usually arrive in waves. Most of the...
At iamproperty we are excited to share the announcement of our...
In an exclusive interview with Estate Agent Today, Simon Coaker, Sales &...
It’s no secret – 2023 is a difficult year for the...
2023 has been coined as ‘the year of AI adoption’, and...
%20(002).jpg)
There are a few common questions that arise when the issue...
As a signage company we know we have a serious responsibility...
The Government’s mini budget on September 23 was anything but ‘mini’...
Agent websites have become more crucial than ever in attracting new...
Interesting report this week in Estate Agent Today on an analysis...
An anti-money laundering (AML) expert has queried why there is a...
%20A%20property%20tale%20for%20our%20times.png)
If you want to hear of a tale for our industry’s...
MPs have launched an inquiry on improving the home buying and...
The Law Society is facing backlash from conveyancers after issuing new...
Further estate agency regulation won’t be too expensive for the industry,...
Who are you and what does it say on...
Who are you, and what does it say on...
Who are you and what does it say on your...
Join the conversation
Jump to latest comment and add your reply
I spoke to an applicant who was talked into using this by an agent and it basically sold it well below market value and the he got charged £5,000 + VAT which equated to about 3.5%! Not a great deal for the consumer I'd suggest considering the same agent often quotes 0.5%.... Someone did alright, but it wasn't the seller.
Dont pay more than 0.75% to an EA.
Dont pay more than £200 to a LA.
You are Professional LLs do not be conned.
Steve.
Interesting laungauge.
Don't be conned???
What do you do for a living.
???????
Don't forget the stamp duty payable on the buyers' premiums, all helping to reduce the sale price. The online method will be going viral in the national press soon - await the fall-out!
Please login to comment