CHALLENGING market conditions are causing many estate agents to look at the way they market properties.
North East estate agent Pattinson is introducing an online auction service in a bid to speed up sales.
Reflecting the popularity of online auctions, the new service is an extension of the company’s existing auction service. Pattinson, which has offered auction services for more than 15 years, is ranked in ninth place in the National Property Auction Index and is the only North East company to feature in the top 25.
Managing director Justin Anim said: “We’re very experienced in delivering auction services and this is an opportunity for us to extend our offer to benefit more vendors.
“Our auctions at Kingston Park Rugby Club in Newcastle are attracting record numbers of entries as vendors seek a fast sale with a guaranteed reserve price.
“Significantly, there are also far greater ‘ordinary’ residential properties entered into auction, marking a real acceptance of this type of sale for vendors who simply have to sell.
“We’ve considered an online auction offer for some time and, with the popularity of our established auction service and the acceptance of websites such as eBay, the time is right to add another solution for vendors.
“This new service complements our regular monthly auctions. It opens up our auctions to more national and international bidders.”
Pattinson’s website is available for everyone to see all previous bids. To place a bid users register their details online. Bidders are kept informed automatically via text and email alerts and given an opportunity to increase their bid before the auction closes.
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