Latest News: Bamboo Auctions launches it’s new online auction website.

January 28, 2015

bamboo auctions logo (Jan 2015)

After several months of preparation, online property auction website, Bamboo Auctions has launched this Tuesday.

The business is led by corporate lawyer, Robin Rathore and Chris Brown (the past president of both NAVA and the NAEA) and is launching as part of the PiLabs Incubation Program (backed by Cushman and Wakefield and Spire Ventures).

Acting through their estate agent, sellers can set a reserve price and choose the length of the auction period for each property listed on the website. Buyers are pre-approved (for identity and anti-money laundering purposes) and can search, download legal documents, arrange site viewings and place bids on properties. Bamboo Auctions works with a team of auction lawyers so legal packs can be provided centrally – saving costs and time for the seller.

Exchange occurs immediately at the end of the auction period, meaning estate agents earn their commission faster and the risks of gazumping and gazundering are eliminated. What’s more, estate agents can enjoy the benefits of diversified business services as well as joint marketing of properties.

“It’s currently a very exciting time for the property sector”, said CEO, Robin Rathore. We’re part of a wave of emerging property-tech businesses. A lot of them are either looking to bypass estate agents or are going into direct competition with estate agents. We’re different. We want to work with estate agents; we want to see properties exchange, so our interests are completely aligned.”

Bamboo Auctions will launch online with placeholder properties. Several estate agencies across England and Wales have already registered to list properties, with the promise of more to come in the near future.

You May Also Enjoy

Home and Living

Why Custom Furniture Is Key to Unique Interior Design in the UAE

In Dubai and the UAE, people want their homes and offices to stand out. Custom furniture is a great way to make a space truly yours. It lets you show off your style and personality. Dubai’s love for luxury and innovation makes custom furniture even more important. This article will show how it can make…
Read More →
Estate Agent Talk

How Estate Agents Can Manage Conflicts Over Property Boundaries

Boundary disputes can quickly become a significant source of tension in property transactions. Estate agents are often in the perfect position to address these conflicts early on and ensure smoother property deals. By taking a proactive approach and offering expert guidance, you can help your clients navigate these tricky situations with confidence. Identifying Potential Property…
Read More →
Breaking News

Breaking Property News 11/10/24

Daily bite-sized proptech and property news in partnership with Proptech-X.   Norther Ireland sees an increase in sales prices & rental prices The leading property portal, PropertyPal, has released their quarterly report highlighting insights and trends that have shaped the Northern Ireland Housing Market in Q3 2024. It includes a comprehensive overview of property sales, rentals,…
Read More →
Breaking News

Taylor Swift’s celebrity home has gone viral on The Sims 4

A new study has revealed that Taylor Swift’s celebrity home has been recreated the most in The Sims 4, appearing 1,293 times on the game’s online gallery Other high-ranking celebrity homes included those belonging to Harry Styles, Tom Cruise, and the Kardashian family The study obtained data from The Sims 4 online gallery to see…
Read More →
Love or Hate Rightmove
Breaking News

First-time buyer mortgage payments still over £350 more than five years ago

Ahead of the Autumn Budget, the latest data from Rightmove’s weekly mortgage tracker highlights that the average first-time buyer monthly mortgage payment is over £350 more than five years ago: The average monthly mortgage payment for a typical first-time buyer is now £931, compared with £578 in 2019 – however, payments are still over £150…
Read More →
Home and Living

How to design the perfect wet room with Wet Rooms Design Ltd: practical tips and accessories selection

When designing a wet room, choosing the right accessories and equipment is of great importance. By choosing a high-quality assortment, you can plan an interior that will be fully practical, functional, and aesthetic. However, when ordering all the equipment, it is worth using the services of a professional company specialising in providing customers with the…
Read More →