Saturday, October 19, 2013

David Clark and Company partner with Auction House

Selling a property by auction is easier than many people think, and the prices that are achieved are usually higher than expected too. We have become the local partner agent for Auction House and feel that their experience and effectiveness in auctioneering coupled with our local knowledge can create a very effective sales platform for certain types of property.
Strong regional and national presence.
Auction House is geared up to sell local property to local, regional and national buyers. We operate over 30 regional auction rooms including one in Central London.
'Local property should always be sold in region by experts who understand auctions and know the area. They will always do a better job and get a higher price. I think that is why Auction House is so successful'
Market Leaders in many areas.
Auction House operates more auction rooms, has more auctioneers and holds more auctions than anyone else in the UK. We are already the most successful, and market leaders in many parts of the country.
'National data shows that Auction House sells more lots and is market leader in several English and Welsh counties including Cumbria, Yorkshire, Lancashire, Lincolnshire, Cheshire, Norfolk and Pembrokeshire.'
Selling locally achieves higher prices.
Everyone selling a property wants to achieve the best possible price for it. Evidence shows the prices achieved through professionally run regional auctions is higher than at centralised auctions. Auction House are the acknowledged experts in the field and a logical first choice.
'Property sells for more money closer to home, which is why everyone appoints local estate agents. The same applies to selling by auction – choosing a regional auctioneer makes sense and you will be glad that you did'
Our regional auctioneers know your area and visit your property to provide an onsite appraisal.
Sellers need to be very wary of auctioneers who don't attend and inspect their property before giving advice on Guide Prices and Reserves. Auction House have auctioneers and valuers in your area who can meet you at the property, inspect it thoroughly and give you proper guidance.
'I don't see how anyone can know the value of a property without visiting it, seeing its condition and its surroundings. Not only that but how can they sell it effectively without knowing the opportunities that it offers'
UK's No.1 Residential Auctioneer and Top 5 Commercial Auctioneer Now the largest and most successful auctioneer outside London, with Sales in 2012 of 2,075 lots and a success rate of 80% - well ahead of other regional and national auctioneers.
'Auction House is the only national auctioneer with a network of regional auction rooms and the only company running professional auctions in widespread locations across the country. If you want to sell your property through a local auction room they are the natural first choice'
We are local, well known, trusted and respected in the area.
Our auction rooms are run by experienced and successful local companies. These businesses are already well known and respected in the area. Our auction teams live locally, know the area, have a wealth of knowledge and numerous contacts. You can feel reassured and confident your property is in safe hands.
'Not only do they know the area and the local property market, but Auction House also has an extensive register of active buyers. These are drawn from both their auction activities and their estate agency registers. Auction House sells more auction properties to end users, and local people who improve them for their own occupation, or as a rental investment.'
We are consistently more successful than other regional and national auctioneers.
Auction House outperforms other auctioneers, our 2012 success rate of 80% is well ahead of the national auctions average and the results of most regional auctioneers too.
'Anyone thinking of selling by auction needs to look at success rates. The fact Auction House is amongst the most successful in the country makes them the obvious first choice in your area'
Heavyweight well targeted marketing and open house viewings are part of a proven success formula.
Auction House delivers success using a powerful package of local, regional and national marketing and promotion. We combine our specialist local knowledge with regional promotion and extensive national brand publicity to generate more interest and competitive bidding in our auction rooms. We encourage telephone and proxy bids, and wherever possible website viewing of our auctions.
If you think you may have a property that would benefit from this method of sale or need to achieve a secure sale quickly then please call us initially on 01353 665020 or visit

Help to Buy - D C & Co's View!

So what is all the fuss about?
One camp is claiming the creation of a 'House Price Bubble' the other is saying that many would-be home buyers are going to be disappointed by the actual implementation of the scheme by lenders.
I have to say I'm with the latter view. Basically the HTB scheme doesn't put any money in buyers pockets. What it does is for those who have managed to scrape together 5% of the purchase price it places a form of guarantee with lenders for another 15% of the loan. This means that the buyer has to have sufficient income and financial status to qualify for a loan of that amount. The lender is encouraged to lend more with the comfort of the UK Taxpayer underwriting 15% of that loan. It is to be noted that the first banks to confirm they were adopting the scheme were those still part owned by the state. Were they persuaded by government?  Even with this guarantee the % rate charged is above the rate that buyers would be charged if they were actually able to place their own 20% cash deposit.
It is not just the rate charged that will upset the buyers but the very tight lending criteria. To qualify people will still have to have good jobs and substantial incomes. One has to ask if you can only stump up 5% then do you have the right income to qualify for the loan?
If I think back to 1984 when I bought my first house my deposit was about 10% so 90% loan to value mortgages were not unusual then and I don't see why they should be now.
Advice is take a look with a good independent financial adviser but don't get your hopes up that the dream home you promised yourself is within reach now. Generally, the lenders do not want to see mortgage costs exceed 55% of your post tax income but they will factor in potential mortgage rate rises.
Some further reading at the links below:

Tuesday, June 4, 2013

£10k refit competition ??

I have just returned from hospital having had a procedure carried out on my foot/ankle that involves repairing a damaged tendon and realigning my foot by breaking my heel! While waiting to be called down to theatre I sat in my room checking e-mails - as you do when you want to take your mind off things.

There was an e-mail from Colin Clayton of Desk Centre Limited talking about a £10,000 office refit and all I had to do was create a blog post suggesting why my office should be the one to receive it! What an opportunity - here I am laid up for two weeks before I can mobilise on crutches and my office certainly would benefit from a revamp in 2013.

Like most surviving, small, independent estate agents we have done this by cutting costs, reducing premises and regrettably letting staff go. Our address used to be 20-22 Market Place but is now 20 Market Place only. We originally moved to No.20 from our first premises in Newnham Street in 1993- my then business partner and I did it on a Friday night with the aid of a borrowed sack barrow! We got some strange looks running along the street with filing cabinets as it must have looked like we'd stolen them!

We ended up with this aluminium shop-fronted delight which we wall papered to dado height and added a paper border to, in an attempt to style it like a living room.

Like most estate agents in the mid 90's we got a rush of blood - possibly to the head but at any rate we decided to expand into what was then the launderette next door.

 Vast amounts of cash later we looked very stylish - and big!

The wall paper went and we used MDF with glued on panels to create a service area in the walls for our computer network cables. The shop front became Oak. All was going well but then my business partner and I did what business partners do and split. We became David Clark and Company still in the same big premises but within 2 years the market and the UK's economy took a turn for the worse and I had to look at a fall back position. We fell back into No.20 alone.

Making the best of a bad job I had some decorating done.  The market has been kinder to us over the last couple of years and the people I let No.22 to have hung on in there!

Staff levels have crept up again but the desks I salvaged were too big so I bought some cheapo smaller ones to get everyone in.

This is how we look today - bit 'quart in a pint pot' outside and in. The pedestals from the big desks with drawers in had to stay for some people to fit all their paperwork in. Mismatch is probably the word.

Estate agency is changing and some are trying the on-line route or moving out of the centre of towns. I'm inclined to take a different line. I want my central Market Place premises to be stunning to look at and send out the right impression to the passing hordes of people. Efficiency and friendliness. They may not be buying or selling today but my office needs to be a subliminal message etched into their brains.

From the outset of the business we've relied on our own interior design skills - no laughter please. I'd now like to let a firm of professionals loose on our not so blank canvas. Whilst life is a little easier we're not rolling in cash and our bigger competitors have upped their game and presence. The whole team would like the lift a re-fit would give.

Here is the current layout:

This is an official entry to Desk Centre’s £10,000 workspace refit competition.

Publications: Guide to Successful Sales and Guide to Lettings

How it works for you...

Having been involved in residential property sales for over 32 years and with a team around me with group experience of over 90 years in the Ely office I felt we could put together these guides that explain how we put this experience to work for you in your sale or letting.

Please download the PDF versions or ask us to send you hard copy.

Sales : guide to succesful sales

Lettings : guide to residential lettings

We are very eager to help with your sale or letting so please call us on 01353 665020