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 the Midlands with offices in Ashby, Atherstone, Daventry, Henley in Arden Lutterworth, Northampton, Rugby, Towcester

Have you previously sold via auction online auction before?

We wanted to start our online auction journey after COVID made in-person gatherings more difficult. We also wanted to open up the bidding to anyone from anywhere – one of our first online auction sales was purchased by a chap on holiday in Spain!

How has offering auctions powered by Bamboo helped you?

We are able to offer our auction properties to a section of the market that we previously couldn’t, this has opened up a huge pool of purchasers and is proving successful so far.

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

Great! Nick our customer success manager has been on hand every step of the way to answer any questions or queries no matter how big or small

Has our technology helped your business and teams?

Yes! The process has become more streamlined now Bamboo links with our property platform Alto. This has saved time in putting the auction properties online.

Lastly, anything else you would like to say about Bamboo Auctions? 

We hope to keep working with you and building on our online auction success!

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Insights from Our 30-Second Interview

Partner Showcase: Howkins and Harrison

Want more information?

Blogs

In the news… Express: Interest rate cut 'eases impact' of Autumn Budget's higher Stamp Duty rates

In the news… Estate Agent Today: Bamboo Auctions ‘set for best year yet’

Partner Showcase: Nest Estate Agents

A quick look at the benefits for buyers, sellers and their agents.

What are the benefits of selling via auction?

In the news… The Negotiator: There’s a shed-load of interest in actions

Bamboo Auctions is providing the white-labelled online auction technology for Michael Graham.

Michael Graham partners with Bamboo Auctions

Why getting the pricing right matters

Are we in the midst of an ‘affordable’ housing crisis?

5 benefits of Selling Property at Auction

A deeper look at the differences and benefits of each

Traditional Auctions vs. Conditional Auctions

Bamboo Auctions hits milestone of 5,000 properties sold

Partner Showcase: Bradleys Estate Agents

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Starting, Guide and Reserve Prices

Updated Automated Property Selection

Feature Update: Alto Integration

Partner Showcase: Fisher German

A quick look at Proxy & Highest bid

Understanding Bid Categories

Online Property Auctions: How Do They Actually Work?

Offering Online Property Auctions as an Estate Agent

How Online Auction Platforms Can Help Prevent Fall Throughs

Benefits Of Online Property Auctions

Expand Your Market Reach

Different options for sourcing auction stock

Non-Standard Auction Stock

 Expert Auction Valuations at Your Fingertips

Introducing Appraisal Advice

Beyond Distressed Sales

Unlocking the Potential of Property Auctions

The Key to Winning New Vendor Leads

Celebrating Auction Success

Following the recent interest rate reduction from the Bank of England, our CEO Robin Rathore says that the drop mitigates some of the impact caused by the increased stamp duty rates announced in the Budget:

“We’re seeing a lot more activity in the market than we were 12 months ago. Today’s reduction should accelerate this even further and bring continued confidence and stability.

“While the base rate reduction is an incremental move, and there is still a way to go, it takes the pressure off aspiring buyers and mitigates some of the impact of increased stamp duty rates announced in the recent Budget. 

“With inflation remaining steady, it’s likely that we will start to see further incremental drops over the next six months.”

In the past 12 months to July 2024, Bamboo Auctions has seen a 30% increase in the number of properties being listed by its agent partners for sale by online auction.

Bamboo was built to help agents sell more properties, with an ambition to make online property auctions more accessible for both estate agents and their customers, wherever they are. We’ve seen a significant uptake in the demand for our platform as agents seek to take back control of their own auction service. 

Using online auctions, estate agents earn more of their revenue, faster, which in the current market helps to ensure positive cash flow. 

Nest is an independent, family-owned business. I, Sara, am proud to work alongside some of the finest professionals in our industry. Our dedication lies not only in excelling at what we do but in prioritising the best interests of our clients. Our office is located in the village of Blaby, and we primarily serve the southern Leicester villages. We strive to provide the best customer service while maintaining honesty and transparency.

Yes, before collaborating with Bamboo / Rocket, we worked alongside another supplier as our online auction provider.

Our decision to join Rocket Auctions was greatly influenced by my long-standing relationship with Matt. Having worked with him for many years, I trust him and his strong work ethic.

Partnering with Bamboo/Rocket has allowed us to offer our clients a modern method to sell their properties using online auctions, which also supports a quicker sales process.

The service I receive from Matt is outstanding. His communication is excellent, and I consistently receive positive feedback from clients regarding his assistance.

Whilst some agents (or even branches \ divisions within an agency) may be suited to our self-managed auction technology, we find some still prefer to 'out-source' all auction leads. For this reason Bamboo now have a dedicated team and brand -  

 which can manage the entire auction process for you and your vendor whilst still giving you complete control over marketing and viewings - making sure you still remain in control of the process and your vendor.

When looking for suitable auction properties and vendors, the starting point is always chain-free properties. The most typical auction properties often include: 

When considering auction stock and opportunities, it is important to think about less common sources for auctions. We have partners who have developed different relationships with various partners resulting in securing both one-off and ongoing auction properties. 

Below I have set out some target organisations with which you could partner with to supplement your normal auction properties:

Since the EPC reform these properties must be kept to ‘C’ or better 

Rather than invest in upgrading properties that fall short, many are now being sold

Sale by auction provides a quick, secure, open and transparent sales process. 

Larger developers offer part exchange to buyers to sell their new stock

They also have accounting deadlines to hit so push to complete these

Offer the auction route to sell these properties quickly and securely. 

Have ‘non-operational assets’ i.e. land, staff housing, unused structure

These are sitting as liabilities on their balance sheet 

Offer the auction route to offload these properties quickly and securely. 

Charities have a range of stock such as old offices and unused assets 

These must be transparently sold and quickly with a fair unbiased process

Auctions offer a fair, unbiased, transparent, quick and secure method of sale. 

Executors often want a quick sale, at the best price with security. 

Build relationships with local solicitors so they understand the benefits

Auctions provide quick and secure sales for the best price. 

Agents in your area could benefit from the auction route on some of their stock

Reach out to these agents and offer to be their auctioneer and arrange a fee-split

We have customers that deliver this service as their sole source of income and bring stock in from other agents far and wide

As well as looking for auction stock when reviewing your weekly market appraisals you can check your existing pipeline for stock.

Is there anything chain-free that hasn’t sold?

The vendor will likely be keen to sell ASAP as their property is unsold and has been stagnant.

Auction can expedite these sales and they also won't fall through once sold.

Not every sale needs multiple buyers (although this is ideal!)

If both vendor and buyer agree on a price then you can run a private auction

This speeds the sale and removes the chance of it falling through

If you need help or advice with the above, please get in touch!

Introducing Appraisal Advice: Expert Auction Valuations at Your Fingertips

We are excited to unveil our latest feature for our partner agents: Appraisal Advice. This innovative tool allows our partner agents to easily obtain professional auction pricing appraisals from our in-house qualified auctioneers. Ideal if you are at the market appraisal or listing stage and could benefit from any extra auction advice. Our Appraisal Advice streamlines the process, ensuring you receive accurate and timely pricing advice.

Appraisal Advice is a new feature designed to simplify the appraisal process for our partner agents. With just a click of a button, agents can request a professional auction appraisal directly from their dashboard or within a draft property listing. Our in-house qualified auctioneers will review the information provided and deliver a detailed auction appraisal, helping you make informed decisions and set realistic expectations for your clients.

Using Appraisal Advice is straightforward and user-friendly. Here's how you can leverage this powerful feature:

This new feature can be accessed from the sidebar or within a draft listing. 

From the Dashboard Sidebar - Log in to your Bamboo Auctions dashboard 

 and locate the 'Appraisal Advice' button on the sidebar of your dashboard. 

Within a Draft Listing - While creating or editing a property listing, you'll find the 'Appraisal Advice' button integrated within the ‘Pricing’ section.

Click the Appraisal Advice button and fill in the required information about the property. This may include details such as the property’s location, size, condition, and any previous marketing history.

Once you’ve completed the form, your information will be securely sent to our team of in-house qualified auctioneers for review.

Our auctioneer will analyse the details provided and deliver a detailed and up-to-date auction appraisal for the property. 

Expert Insights: Gain access to professional advice from our experienced in-house auctioneers, providing you with reliable and accurate market insights.

Efficiency: Save time and streamline your workflow by requesting appraisals directly from your dashboard or within a draft listing.

Convenience: The seamless integration of Appraisal Advice into our platform means you can quickly submit from within your dashboard.

Informed Decisions: Make well-informed decisions about property pricing and auction strategies, enhancing your ability to serve your clients effectively.

Ready to take advantage of the benefits of Appraisal Advice? Log in to your Bamboo Auctions dashboard and try out this new feature today. 

At Bamboo Auctions, we are committed to empowering our partner agents with the tools and resources they need to succeed in the competitive property market. The introduction of Appraisal Advice is a testament to our dedication to innovation and excellence. By providing quick and easy access to professional auction valuations, we aim to support you in achieving the best possible outcomes for your clients.

Join us now and discover how our platform can revolutionise your property transactions.

For any questions or assistance, our support team is always here to help. Contact us at hello@bambooauctions.com.

Thank you for choosing Bamboo Auctions. Stay tuned for more updates and features designed to enhance your property auction experience. Happy listing!

Follow us on social media for the latest news, updates, and insights from the Bamboo Auctions team.

0330 088 9659

hello@bambooauctions.com

Partner Showcase: Howkins and Harrison

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