A major regional real estate brokerage is the latest company to sign up with online auction specialist Bamboo. Bamboo said more brokers are using auctions due to higher winning bid rates and slower transportation speeds.
Bamboo is now using auctions for the first time as it powers the online auction service of Michael Graham, a real estate company with 15 branches across the Home Counties. 
Carly Freestone, the real estate agency's director of marketing and operations, said the company is seeing increased demand from customers who want to sell properties with faster turnaround times.
“Adding an auction service allows for faster transactions, especially for chain-free customers,” she says.
“We are already seeing a lot of interest from clients and have a number of listings that are gaining significant traction on the Bamboo platform.”
CEO Robin Rathore (main image) told The Neg that while slow shipping is a factor in persuading more vendors and distributors to use auctions, “increased fall-through is also driving down auctions. “We are contributing to the transition.”
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“People also expect the transfer to take longer, so they tend to go to auction from the beginning rather than switching sales methods midway through the transaction.”
Bamboo Auctions provides real estate agents with the technology to power their own online auction services, allowing them to list, control and manage their own auction services and list properties for sale at online auctions at any time.
In the first half of this year, Bamboo reported a 31% increase in the number of properties listed for sale by its agent partners at online auctions compared to the same period last year.
