Pattinson are the true pioneers of the Conditional Method (aka Modern Method) of auction, a style of auction which every auction service who provides an online outlet to sell via auction, will base their model on. We at Pattinson, whilst recognising the benefits of the Conditional Method, have successfully blended the Unconditional auction sale with Private Treaty methods in order to create a true answer for secure sales – so much so, in excess of 90% of the transactions we oversee are done so using this route.
Our first auction took place in 1992, and over the last 18 months, we have forged partnerships in Northern Ireland and Scotland as an answer to the growing demand for our services, adding to our network of agents that already span England & Wales.
We have been named the fastest growing auction provider by The Essential Information Group, ending 2017 with a 62% increase on the total income of 2016. To accommodate the heightened interest in our auction services, the number of business development managers that now work with us has increased by 250%. At the beginning of 2017 we had 4 BDMs working across the country and this total is now 14. As a result, over the past couple of years our partner agent network has doubled in size each year.
As our team grows we are continuing to make connections with other leaders in our industry. Together we work hard to ensure the benefits of auction are widely communicated and our tactic is simple. It involves explaining why auction is a method that should be considered for all types of properties.
We, at Pattinson supply, without cost to the Partner Agent, auction guides which explain the service we provide to sellers. These are all branded to any of our partners and bespoke in a way which allows the partner to tailor aspects of the guide to also recommend their existing residential sales and lettings departments.
Our white-label service for our partner agents starts from an entirely blank page. We endeavour to reiterate that the auction department is an extension of our partners’ agency.
Our training presentation and learning materials are tools for all agents to refer back to and, more importantly, our BDMs play a major role in ensuring that all auction departments can receive further training when needed. Training includes an introduction to the partner agent portal which allows agents to keep updated with the progress of listed properties from referral all the way to completion. It was developed in-house making it easier for us to make amendments and improvements.
We believe it is important to be flexible and for the technology we use to grow and evolve at the same rate we do.
For this reason, customers can now sit in on our auctions via the live video feed. This is not just an artificial tool as we have plans to develop this further, so viewers can bid online while watching the auction live feed. Championing the transparency of auction has always been important to building our business and introducing an interactive element to our live feed takes this even further.
Comparatively between January and June 2017 to 2018, we have seen a 53% increase in the value of properties via bids placed online. Our aim is to develop the technology to accommodate the smooth transition from physical to online auctions. From the figures this is what our customers and partners require and we will work with them to be the best auction service provider in our ever-changing industry.