Member Article

New Property Business Has Expansion in Mind

A new property auction business which aims to speed up local house sales has been set up by two local entrepreneurs in Doncaster with ambitions to grow across South Yorkshire.

Alistair Boyd-Meaney has launched Open Door Auctions Doncaster with ex-professional football player, Lee Cowling, who is currently a staff coach at Doncaster Rovers Academy. Their intention with the new venture is to use a new and innovative business model to increase residential property sales using auction. Once Open Door in Doncaster is established, their plan is to open additional branches across South Yorkshire within the next 5 years.

Open Door Auctions itself is a growing network of independent property businesses, the first of which was opened in 2012. It currently boasts an average listing time of just 34 days (5 weeks).

Alistair said: “With average sale times in Doncaster currently at 17 weeks (as listed on www.home.co.uk), it’s clear that there has to be a better way to buy and sell your home. Having researched a gap in the market, the launch of the new business turns house buying and selling on its head. Investing in this business shows our commitment and optimism to operate in the local property market.

“In the traditional open market where house sales are struggling and stagnant, sellers and buyers alike are becoming very disenchanted. Modern auction is different – it’s faster, more secure and transparent – everything people look for when it comes to buying or selling, and a long way from Homes Under The Hammer.

“The response from residents has been very good so far and we have our first auction booked on 15 March where we aim to list and sell our first 15 properties.”

Alistair is an award-winning and professionally-qualified Business Development executive and entrepreneur, with a wide range of experience in senior and operational management, both within the private and public sector. Open Door Doncaster has been personally financed by Alistair.

Since its launch, Open Door has hosted 27 auctions and, on average during 2015, properties sold at more than 5.3 per cent above the guide price. Competitive by nature, auctions can drive up the price of a property, are legally binding and require deposits to be paid on exchange.

Graeme Naish, co-founder of Open Door, said: “We’ve seen huge success and a real hunger for this service in the residential property market, having sold more than 385 houses in three and a half years. We’ve worked hard to create a reputation for quick, honest, responsive house sales and it was important to us that whoever came on board with the brand is as passionate about it as we are. Alistair and Lee have the entrepreneurial drive that we were looking for, so we’re excited to have them as part of the Open Door family.”

Alistair added: “Open Door has a proven track record. We’re committed to making this a success and ultimately want to see Open Door’s modern approach to auction change the property marketplace for the better.”

With spring around the corner, now is a great time for people looking to buy and sell property, as homeowners begin to think about moving home. There has also been a strong growth in buy-to-let interest prior to April’s stamp duty changes.

Open Door Auctions Doncaster will host its first auction on 15 March.

This was posted in Bdaily's Members' News section by Kathryn Greenwood .