Manchester-based national property auctioneer Pugh & Co will be using its expertise to help estate agents across the UK to off load hard to sell properties.
Pugh will use its network to help agents add an extra revenue stream by working with them to sell properties that are unsuitable for sale via an online or in-room auction.
The housing market has been hit hard by the coronavirus pandemic, meaning many people have delayed buying or selling a house.
Pugh’s associate director Will Thompson, who heads the new network, said: “Whilst covid-19 has inevitably presented challenges, successfully moving our entire auction function to our pre-existing online platform during lockdown is a great source of pride for our team.
“The fantastic results of our recent online auctions have proved we can truly offer our partner estate agents a flexible and reliable auction partnership.
“Pugh’s has been providing a reputable auction service to estate agents for years now, and by formalising the arrangements we’re aiming to provide the best service possible.”
He added: “We recognise that estate agents have had to overcome an array of challenges during lockdown and that reaffirms our commitment to flexibility and collaboration when forming our auction partnerships: enforcing a one-size-fits-all approach doesn’t work.”
Pugh reported sales of £5m for its April property auctions, which were switched from auction rooms in Manchester and Leeds to its online platform after the introduction of social distancing regulations in March.
After two months of online-only viewings, estate agents have been back at work recently with many donning masks and gloves to start showing properties to buyers, with the owners retreating outdoors to stay at a safe distance.
