Member Article

Building Blocks of Growth as Pattinson Sign Two New Agents

A property company that is leading the way in online auctions has joined forces with four new partner agencies, two of which are in Derby.

Pattinson Auctions started 40 years ago in the north east and has recently branched out across the country with sales directors across the UK, including the East Midlands. Its growth follows a huge increase in the amount of people buying property through its online auctions.

As part of this growth it has announced it will be working with Belvoir Derby West and Scoffield Stone (which incorporates Our House) which has offices in Hilton and Mickleover. It will also be working with Leicester based CHQ Properties and Moving Made Cheaper in Loughborough.

The online auctions were launched six years ago and are based on a similar concept to EBay.

Richard Stephens, East Midlands business Development manager at Pattinson Auctions, said: “We found that there was an increase in agents that wanted to offer the Pattinson Auction service to their clients. Many vendors are purely thinking of the cost of selling their property and that’s what helps them make their decisions when choosing an agent.

“Many agents are interested in using Pattinson because it passes a 0 per cent sales fee on to the agent’s clients so it costs the seller nothing. The traditional view of property auctions is often that there is something wrong with the property or it needs a lot of work doing, whereas 90 per cent of the stock is in great condition. When a house sells at auctions with Pattinson they have a 28-day marketing period and other buyers can see what the bids are.”

Richard said one of the biggest reasons that sales fall through is the legal documents associated with the property.

For example, someone might see a house they want to buy and when they get the legal documents they realise there is a right of way across the back garden and it falls through.

However Pattinson Auction, which also holds live auctions at Nottingham Racecourse, provide all the legal documents so you can see them straight away. This means it converts its properties at a rate of 85 per cent, whereas statistics show that estate agents convert them at 65 per cent.

Paul Morris, managing director of Scoffield Stone, said: “We saw this as an exciting opportunity and it will be part of the organic growth of the company. It really extends what we can offer significantly and it’s nice to be able to visit our potential clients and tell them about it.”

It is free to become a partner agent and Pattinson Auctions is looking for more estate agents in the East Midlands to work with.

Richard added: “Agents are contacting us more than ever about using our services especially for stock they can’t shift – it helps them convert properties so more sales go through.”

More information can be found at pattinsonauctions.co.uk

This was posted in Bdaily's Members' News section by Poppy-PR .