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At Bamboo Auctions, we’re always innovating to provide our partners with cutting-edge tools that simplify the property auction process. That’s why we’re excited to announce as part of the recent feature update, the launch of our latest feature: 

This powerful new functionality enhances your auction listings by allowing buyers to place offers on properties either before they go live 

(when your listing is marked as ‘Starting Soon’)

Properties listed as ‘Starting Soon’ will now display the ‘Make an Offer’ button. Buyers can submit offers during this phase, even if the legal pack is still in progress or hasn’t been ordered yet. This feature creates opportunities for early engagement, enabling you to receive offers before the auction officially begins.

Unsold properties no longer have to stay idle. With the ‘Make an Offer’ button, you can continue marketing their listings and accept offers from any interested buyers. If an offer is accepted, the property can be sold via a private auction, maintaining transparency and efficiency throughout the process.

 Generate interest and secure offers on properties even if legal packs aren’t finalised.

 Keep unsold properties visible and give buyers a second chance to purchase.

 Offers received before or after an auction can help you support the pricing advice you have given to your vendor.

If you have any questions, as always, our team is available to assist with any questions or guidance you may need. Contact us anytime at hello@bambooauctions.com for help with using the new feature or maximising your auction success.

Don’t miss out on the latest Bamboo Auctions updates, news, and features! Follow us on social media for tips, insights, and inspiration tailored to estate agents like you.

Thank you for choosing Bamboo Auctions - your trusted partner in online auction technology. Happy listing!

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A quick look at the new 'Make an Offer' feature.

Bamboo Auctions Launches New ‘Make an Offer’ Feature

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Offering Online Property Auctions as an Estate Agent

As estate agents leveraging Bamboo’s online auction platform, success starts with a clear plan. A strategic approach ensures your vendors achieve the best possible outcome while maximising your agency’s potential in the auction market.

Whether you’re listing a ground rent investment, land with planning potential, or a unique development opportunity, some properties naturally attract more interest than others. For those requiring extra attention, a well-thought-out strategy can make all the difference.

With the upcoming changes to Stamp Duty thresholds on 1 April 2025, auctions are becoming an increasingly attractive option for homeowners looking to sell quickly. The Stamp Duty threshold will drop from £250,000 to £125,000, and the first-time buyer limit will fall from £425,000 to £300,000. These shifts are driving interest in auctions, as buyers and sellers aim to secure deals before the changes take effect.

At Bamboo, we’ve seen a 7% increase in properties sold via auction over the past three months compared to the same period last year, highlighting the growing demand for auction services.

To help you and your vendors succeed, we recommend these three strategies:

1. List Properties with a ‘Starting Soon’ Status

While waiting for the legal pack to be prepared, list your property with a ‘starting soon’ status. This allows you to generate interest early and gives potential buyers the option to submit pre-auction offers via our "Make an Offer" feature. If an offer is accepted, you can run a private auction, creating a seamless and efficient process for all parties.

2. Monitor Interest and Adjust Pricing if Needed

If a property hasn’t generated sufficient interest after 10 days, it’s time to have a conversation with your vendor about a potential price adjustment. A strategic price reduction can reinvigorate interest and ensure the property gains momentum before auction day.

3. Promote Properties Across Multiple Channels

Use every platform at your disposal to showcase your auction listings. Social media is particularly effective for driving traffic and engagement. As a Bamboo partner, you have access to bespoke content tailored to your listings, designed to maximize exposure and attract potential bidders.

In a fast-moving market, auctions offer a chain-free, transparent, and efficient way for vendors to sell their properties. By offering certainty and speed, you’re providing a solution that meets the needs of today’s motivated sellers.

As your technology partner, Bamboo is here to support you every step of the way. Whether you need help implementing these strategies or creating compelling content for your properties, we’re just a call away.

Let’s work together to ensure your auctions thrive in a dynamic market. If you have any questions or need advice, don’t hesitate to get in touch!

At Firmin & Co Estate Agents, over the last ten years, we have seen the desire for both buying and selling auction properties soar. Having been an Estate Agent myself for a number of years, I made the leap and opened my own company in 2014 covering Peterborough and the surrounding areas. Recently we made another leap and chose Bamboo Auctions to manage the ever-growing interest in auction properties.

Having used other online platforms for auctions we found that, while properties sold, progress was slow and the other online auction providers were not proactive, meaning our staff were left chasing, wasting their precious time

Having researched other providers, we came across Bamboo; a company with rave reviews that mostly focus on the fantastic communication from the company itself - this is exactly what we were searching for.

Bamboo Auctions, much like bamboo itself, can be described as hardy, light and flexible. They work hard, employing a proactive approach in helping us to manage our auction properties. Their light, friendly staff are easy to reach and more than willing to assist when we have questions around the online service - they regularly go above and beyond to ensure we are utilising the online service to its full potential. Their flexibility means we can contact them at any time and the service is tailored to our needs.

How would you describe onboarding, support & service from Bamboo?

With our staff that have a range of technical abilities, the onboarding system is extremely user friendly. For those staff who have questions, the support and service that Bamboo offer is nothing short of outstanding. A small, well-established team at Bamboo means that whenever we contact the team, we are greeted by someone that knows us, understands our context and can offer us the best tailored support and service.

Has our technology helped your business and teams?

Since joining Bamboo Auctions, we have found managing our auction properties to be smooth sailing. Supporting our clients who are buying property via auctions means that attendance at auctions is thriving. Clients can access the auctions online with ease thanks to Bamboo. This means that auction properties are now becoming a huge part of our business. 

The team at Bamboo Auctions has shown themselves to be a cohesive team that offer an operable, practical and effective service and we would recommend them as a provider.

All Wales Auctions is a dynamic and dedicated real auction agency. We specialise in bringing buyers and sellers together across the beautiful landscapes of Wales.

Melfyn Williams BSc(Hons) MRICS PPNAEA PPNAVA CPEA

 Our expertise spans the length and breadth of Wales, ensuring that no corner is left unexplored. From the bustling cities to the serene countryside, we’ve got it all covered!

At All Wales Auction, we pride ourselves on our local knowledge and personalised service, making every transaction as smooth as a Welsh breeze. Whether you're buying or selling, we're here to guide you every step of the way. Let's make your property journey an exciting adventure! If it’s any kind of real estate - land, property, advertising hoarding or even a castle turret we can find your buyer.

Teaming up with Bamboo online service for our auctions was a strategic decision driven by our commitment to enhancing the auction experience for our clients. Here’s why we chose Bamboo:

By partnering with Bamboo, All Wales Auction can offer a modern, efficient, and secure auction experience, with local knowledge aligning with our mission to provide top-notch service and results for our clients.

Absolutely, when Covid arrived, we had already started to test Bamboo, so we fortunately were ready, and the Bamboo technology has been a game-changer for our business and teams at All Wales Auction! Bamboo’s technology has simplified and automated many of our auction processes, allowing our team to focus more on client engagement.

Online auctions have been growing in popularity over the last few years among both buyers and sellers, and they are becoming an increasingly popular method of sale for estate agents across the country to add to their service offerings. Online auctions for properties are a quick and efficient way to find buyers and secure sales. However, the way in which suppliers enable estate agents to offer and deliver online agents can vary, so it is important to understand the differences when looking at providers.

With a global audience of buyers ready to bid, and relatively low cost to offer and implement, offering a live property auction online as an estate agent is a thoroughly modern method of selling property. Sale prices can be maximised via live competitive bidding, property exchanges are immediate and straightforward, and the accelerated transaction time frame suits everybody involved.

Here we look at what you need to do as an estate agent to offer online property auctions effectively as an option for your buyers and sellers.

The initial decision that needs to be made is the online technology that you will be using to host your auctions. There are quite a few online auction platforms around these days, so look for online auction specialists who have built their platform from the ground up to be particularly secure and efficient. Following that you’ll need to decide whether to outsource your online property auctions entirely or bring all or part of the transaction process in-house.

There are pros and cons to each route to consider. No matter which direction you choose, having a strong online auction presence allows you to exponentially expand your market reach beyond just local buyers. With proper execution, you can consistently generate more bidder competition to maximise sales prices.

Identifying The Right Properties For Auction

Various factors can determine which properties are ideal for online auctions. For example, in standard property transactions, properties often get tied up in long chains where one sale is contingent upon another buyer's sale completing first. Online property auctions eliminate this logistical headache since they are uniquely designed for straightforward, chain-free deals.

Sometimes the very qualities that make a property special also make it trickier to sell through conventional means. Unique properties that are hard to value - whether architectural charmers, properties in need of major renovations, or those with uncommon features - can benefit from online auction exposure. Listing details, images, and video allow these distinct selling points to be showcased front and centre to the right motivated buyers, to allow the right market price to be achieved.

Some sellers have a heightened motivation or pressing timeline for selling quickly. This could be due to relocation, financial circumstances, inherited properties, or any number of personal factors. The efficiency of an online auction represents the best-selling solution for these time sensitive situations. 

Once you have identified the right property with the right vendor circumstances for auction, you’ll need to price it properly. Remember that with auctions, we are looking for multiple bidders to bid, rather than one person to offer on a property. Pricing is critical to the success of your online auction and you should ensure that your online auction supplier can advise you on how best to approach this if you need that extra support. 

A legal pack is a crucial part of the auction process and while it should be extensive, it must also be clear and easy to understand. This suite of digital documents provides bidders with full visibility into all details and disclosures about the property before the auction even begins. Not only does this create trust in the process, but it helps qualify bidders as informed and ready to follow through on their commitment.

With a well prepared legal pack, bidders have all the insights they need to participate confidently. This ensures a competitive, trusted and transparent environment for buyers to participate in the auction.

Marketing Your Property and Managing Enquiries

After all the above is complete, you are ready to go live. There are going to be a lot of enquiries so you will need to be ready to respond quickly to maintain the interest of all potential buyers. Advertising the property as being up for auction is imperative, so we strongly advise publishing the property on all the major portals and marketing to your own database. Push your properties on social media and any other platform to gain attention too.

The highest bidder when the timer runs out will win the property, assuming that the reserve price has been met or exceeded. Depending on the online auction provider you choose, you may have payment handling and ID checks included and contracts may be automatically generated and signed online. 

The most effective technology platforms are the ones that put people at its core. For that reason, it’s essential that you are well supported by your supplier, not just at the point of sale and integration, but throughout the journey of a transaction and the duration of your relationship. Beyond all the features, and tech benefits, it is critical that you trust your supplier to provide you with reliable value add; to help you win more instructions and sell more properties. 

Are you an estate agent ready to revolutionise your property sales? Discover the power of online auctions with Bamboo Auctions and

0330 088 9659

hello@bambooauctions.com

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