Auction has been a godsend because of the speed and security. Typical transactions have been taking six months and in that time a lot of things can go wrong and unravel for us and the vendor, but not with auction.
Merryweathers Estate & Letting Agents is the largest independent Estate Agency in South Yorkshire. The firm has five branches, all of which use iamsold and movebutler. Here Business Development Manager, Jonathan Moult, explains how the iamproperty ecosystem has helped to accelerate their success. Jonathan said: “The first quarter of 2023 has been a very strong one for Merryweathers despite the difficult market conditions. Last year we came out of the blocks flying and this year the priority has been to increase our auction offering. Over the last year, auction sales have increased threefold, and we’ve seen a huge culture shift towards auction across the business as a route to sale due to the security and speed of sale which it offers.”
“Our Account Manager at iamproperty, Ray, is one of the best available and understands how to help us get quality properties through auction. Ray is very much part of our team and is always available for instant contact. Recently we had an auction property that didn’t sell and withdrew, Ray continued to keep in contact with the vendor and managed to secure an off-market sale which secured Merryweathers a fee of almost £7000, our biggest of the year. “The end of 2022 was a disaster for the property market, and we saw sales slow down drastically. Auction has been a godsend because of the speed and security. Typical transactions have been taking six months and in that time a lot of things can go wrong and unravel for us and the vendor, but not with auction. “Auction has been a beneficial alternative route to sale, both for the client and us as an agency, because sales are fast so we get quick exchange for a secure sale and secure fees.”
“I think people used to be scared of auction because they had a vision in their head of what it looked like, but those perceptions have changed. Now we offer auction as part of our general pitch to clients, and as a result 11% of our sales now go through auction. This shows that people are understanding it and are open to having conversations about it. Because of the market conditions it’s a more viable option than ever and our clients like to have the option there – people who are only being offered Private Treaty are missing out.”
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