Leading auctioneers report strong growth

Leading auctioneers report strong growth

AUCTION
15 July 2015 by Nick Bendel 0 comments

Business is booming for two of the finalists at tomorrow’s Real Estate Business Awards.

Auction Services has reported strong growth in volumes and clearance rates, while their directors, Rocky Bartolotto and Rob Trovato, are two of the eight nominees for the Auctioneer of the Year category.

Mr Bartolotto told REB that the Sydney firm conducted 1,674 auctions in 2014/2015 – a 24 per cent increase on the 1,351 auctions conducted in 2013/2014.

The clearance rate also increased during that time, from 78 per cent to 84 per cent, he added.

Mr Bartolotto said the growth could partly be attributed to low interest rates, which has helped turn Sydney into even more of a seller’s market.

“In particular, for our team, a 15 per cent increase in auctions has come from the west and southwest regions, where affordability compared to other parts of Sydney is resulting in a shift in buyers,” he said.

“This is reflected in the average number of registered bidders we are seeing across our auctions.”

Mr Bartolotto said Auction Services has also benefited from the training it provides to real estate agencies.

This has given agents a better understanding of how to manage buyers and sellers, and how to display their skills to potential vendors, according to Mr Bartolotto.

“This has been highly successful,” he said. “As a result, agents have a clear understanding of why they are choosing auctions as their preferred method of sale, and are truly the experts in their marketplace.”

Meanwhile, Auction Services has appointed Arthur Chrisimos as the sixth member of its auction team, which also includes Michael Poulos, Charlie Daher and Robert Klaric.

[Related: Multimillion-dollar sales power hot auction market]

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