First for Auctions, a service offering tailored support for those selling and buying properties through auction, has launched from Leaders Romans Group (LRG).
The First for Auctions brand will be used across the group, replacing separate entities through Romans Auctions and Leaders Auctions.
Last year, 106 properties were sold through existing LRG Auctions Services, with a 95% sold success rate and properties achieving an average of 25% over the guide price.
Daniel Gale, the newly appointed head of auctions for First for Auctions, said: “We are very proud of the work we have been doing to further increase awareness of the benefits of selling through auction.
“Our mission is to demystify the auctions process so that where circumstances call for a more swift, efficient, and transparent sale, people looking to sell their homes benefit from the support of an experienced team who will be there every step of the process.
“It is a very exciting time to be part of property auctions as they grow exponentially in popularity, and I look forward to taking the First for Auctions brand national to watch that success grow.”
Over the last few years, the team has witnessed demand for online auctions in the property market grow significantly.
In early 2022, auction sales hit a five-year high according to the latest report from the UK Commercial Property Auction Data report, as buyer confidence in auctions increased.
Q1 sales through auctions in 2022 have been recorded as the highest since Q1 in 2017 and this volume was 22% above the 10-year average for Q1 results.
The biggest benefits of using an online auctions process are speed and certainty – exchange of contracts is achieved in as little as 4 to 6 weeks with the security of a 10% deposit, which LRG says compares to traditional sales of 8-12 weeks with no guarantee of exchange.
Auctions also offer the transparency and market competition for the seller because all buyers bid publicly in real time.
The First for Auctions leadership team includes Simon Clayton, a qualified member of the National Association of Valuers and Auctioneers, as well as auctioneer and valuer, Gareth Bell.
