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TODAY'S OTHER NEWS

Hammer time! London agent launches auction brand

The founder of London property consultancy and agency The Landmark Partnership has launched an auction brand.

Tommy Hughes, who has worked in the property industry for more than 25 years including as a valuer and investment consultant for Auction House London, has launched Landmark Auctions.

It held its first auction at the end of May with a number of lots selling under the hammer including a family home in Essex which sold for 20% over its guide price.

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The firm is based in Hertfordshire.
 

Hughes said: “The pandemic has had a significant impact on the auction market and changed the way many people prefer to buy and sell property, from the comfort of their home. 

“Lockdowns meant we were seeing live and online conducted auctions only, attracting thousands of people and generating hundreds of sales.

“This trend will last which is why we are offering online access to all our auctions as well as the more traditional in-house approach.

“Auction sales is a fast and secure way of buying and selling.

“No one gets stuck in a chain; it eliminates the risk of being gazumped and exchange takes place on the fall of the auctioneer’s gavel providing greater confidence to seller and buyer. 

“However, for anyone new to the auction world they need to do their research beforehand.

“We are really looking forward to guiding people through the process.”

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