Network Auctions’ latest London auction on 22 February has brought the total raised in partner agent commission fees to over £100,000 in the last month, “proving the business model of the partner agency model works,” says Toby Limbrick, Director.
The auction held at The Grosvenor House Hotel, Park Lane attracted lively and competitive bidding from in the room, online, proxy and via telephone – showcasing the multiple ways people are buying at auction in 2018.
Popular lots included a two-bedroom Eco home in Milton Keynes which sold for £202,000 against a guide of £165,000, an extended four-bedroom house in Braintree which sold via proxy at £240,000 against a guide of £210,000 and a detached stone-built Mill House and potential development site in Oxfordshire which sold for £1.25 million.
The sale exceeded market expectations and raised a total of £7.3 million and a success rate of 75%.
In the last month, Network-E, the online auction platform has successfully sold an additional five properties accruing commission of £35,000 for partner agents.
Toby Limbrick said, “We are delighted to be able to share our successful route to market with our partner agents and the proof is in their continued and increasing commissions. We’re keen to hear from any estate agents who would like to learn more about the way we work.”