Females in the fast lane: The world of property auctions is testosterone-packed. Dominated by middle-aged men, few auctioneers are below the age of 30, and even fewer are female. But as a growing number of women try to carve out careers in a sector that is notable as much for its camaraderie as its competitiveness, Estelle Maxwell asks four women who have chosen to work in the fast-paced and highly visible auction room to share their experiences
The entrepreneur: Kate Hughes
Kate Hughes, 27, launched Merseyside Property Auctions in July 2008. Six months later she was named Young Entrepreneur of the Year at the Northwest Women in Business Awards.
She says: “Many females are running very successful departments for estate agency branches and auction houses, yet not many appear to be directors or owners, and they never have full control.”
Hughes has made a swift transition from office junior at a local chartered surveying firm to managing director of her own company.
After first working as an office junior/typist/receptionist, she gained a diploma in surveying practice, was elected as a technical member of the RICS, became a senior valuer (at the age of 25), and went on to become head of Sutton Kersh’s auction department with responsibility for running the office, valuations and sales negotiations.
“At 27, I felt that I was at the top of my game,” says Hughes. “I realised that there was nowhere else to progress to. One of the hardest challenges has been getting bigger companies to take me seriously in such a difficult market. However, the results speak for themselves.
“Success rates have averaged 79% and we have raised £4.5m from four sales. Now we receive instructions from Grainger and I am on the panel for receiver AMG.”
For the moment, Hughes prefers to build the business and to stay off the rostrum. She has handed the role to consultant auctioneer Guy Charrison.
“You have not really multi-tasked until you have set up independently,” she says. “I have to be everywhere at once and an expert in every single part of the business.”
Young Auctioneer of the Year: Jo Cordrey
Jo Cordrey, 29, an associate director at Jones Lang LaSalle and a dedicated member of its auction team, won the title of Young Auctioneer of the Year in 2004.
Richard Auterac, joint head of auctions, says that Cordrey is a “real asset” and that, at some point, she may make an appearance on the rostrum.
“I just fell in love with auctions,” Cordrey says. “It is the way the business is run and the people you meet in capital markets. There is such a mix of investment and it is incredibly fast-paced and energetic.
“I would not have a problem going on the rostrum and, if the opportunity arose, it would be a great experience, but I would have to feel 100% comfortable that I could do the job appropriately.”
The auctions director Louise MacDonald
Louise MacDonald, the power behind the throne at Stockport’s Edward Mellor, was dismissed by her head teacher at the age of 17 with the words, “unlikely to progress beyond a Tesco checkout girl before having a baby”.
But, as MacDonald herself says: “Here I am: 46 with no children and a success. I will never forget it. It was wicked.”
After leaving school in 1979 with O Levels in French and English, MacDonald starting working for a local estate agent and ran a concession of Bradford & Bingley building society. She joined Edward Mellor as its Levenshulme branch manager in 1983 and started its auction department.
“Our first auction catalogue in September 1997 had 12 lots and an average lot size of £6,000-£8,000. In 2007, we sold £56m worth of property, which fell to £32m last year during the property downturn.
“I do everything but go on the rostrum. I carry out valuations, pitch for business, advise clients and oversee the running of the auction. I network the room and chase up post-sale deals,” she says. “My career has been built on sheer graft, hard work, consistency and building a name for myself.
“It is a male-dominated industry but I have never had problems working within it. I have strong working relationships across the Asian and Jewish communities, where I would have imagined problems relating to my gender might have occurred more frequently. But I think it is all down to how you conduct yourself, and a lot of clients are delighted that I am still here after all this time.”
The freelance auctioneer Morven Marwick
Freelance auctioneer Morven Marwick owns a property service business offering management services to companies in the Scottish Highlands.
She qualified as a surveyor in 1991, is a member of the RICS, and has worked on the rostrum for Edinburgh-based auction house SVA Property Auctions for almost five years, while bringing up her family. During her spare time, she sings in a close harmony female group.
Marwick, 42, acknowledges that she is something of a rarity on the rostrum. “When SVA’s auctioneer Sean Vigers needed someone to help him on the rostrum in 1999, I volunteered,” she says.
“I learned [about the job]from observing and absorbing information, going out and getting instructions and assessing how it all works.
“I enjoy being on the rostrum and I like the range of property you become involved with.
“I have sold lochs and land with the most unpronounceable Gaelic names, and it has been fun coming into contact with the cross-section of buyers.
“It has been an excellent career move, giving me the flexibility I require. I am fortunate to have been supported and allowed to develop my career.
“I do bang the gong occasionally about why there are not more women surveyors, but I suspect there there are still a few things to change before they will be persuaded to stay within the sector.
“I see auctions as being as open to women as to men, and I do not know why there are not more women in the arena.
“Auctions have fascinated me since the graduation milk-round; I love the contractual nature of the fall of the gavel, and its immediacy. The speed with which transactions move through private treaty has always frustrated me.”
