Lambert Smith Hampton has launched a new online auctions platform.
The agent, which last year lost its six-strong auctions team, led by Oliver Childs, to online agency BidX1, has launched 574.
LSH said that the new platform (available to access at 574.co.uk) takes the form of eBay-style selling, whereby bidders are vetted thoroughly online and, once approved, are free to bid on any property on the day of sale.
Chief executive Ezra Nahome said: “Technology continues to change the way we all interact and buy services. Property is no different. This highlights the need for change. The whole process is simplified, given we can now list and transact within days.
“Our people and our national network are key to the platform, ensuring our clients continue to get extensive in-depth advice with the benefit of the localised property knowledge that they seek. 574 delivers a secure, transparent and best-value outcome with a global reach.”
The platform will be led by head of sales Max Mason.
LSH was one of the first of the traditional agents to use online property auctions, undertaking its first online-only sale in 2016. The agent said it had already sold more than 60 properties via online auctions at an average 18% premium. Lots have varied in size from £20,000 to £11m, with clients spanning private, public and institutions.
Pictured above, left to right, the 574 team: Kate Babbage, Emmanuel Alade, Max Mason, Ezra Nahome, Jeremy Green, Izzy Watterson, Tom Moreton
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