Alto launches Alto Auctions to streamline property sales
The service, powered by Bamboo Proptech, is now live for more than 6,000 agencies and 35,000 daily users, covering around a third of UK estate agencies.
Alto has launched Alto Auctions, an online auction service built into its platform and included free for all Alto customers.
The service is now live for more than 6,000 agencies and 35,000 daily users, covering around a third of UK estate agencies.
Agents earn at least £2,500 per completed auction sale on top of their standard vendor fee.
For conditional auctions, agents can earn 1.5% plus VAT of the purchase price as a buyer fee.
Alto Auctions is powered by Bamboo Proptech, an online auction platform.
Bamboo’s data analysis rates each property for auction suitability inside Alto, and artificial intelligence (AI) driven price guidance is built into the workflow.
Agencies can choose to run auctions themselves with Bamboo’s back-office support, or use Bamboo’s auction team to list, manage and complete the sale while keeping full visibility inside Alto.
Stuart Pick, director of partnerships at Alto, said: “Every agency has stock that’s quietly going nowhere.
“The property that’s had two reductions and a buyer walk away. Agents know auction could move it.
“What stops them is that auction has always been a specialist job, run outside the system they work in every day.”
Pick added: “Alto Auctions changes that. It tells you which properties are right for auction, then lets any negotiator run the sale without leaving Alto. No one has put that inside a CRM before.
“Auction used to mean handing a property over and hoping. Now you keep control, and you can see exactly where the sale is.”
Robin Rathore, CEO at Bamboo Proptech, said: “Property transactions are far too long and in such a fragile market as the one we’re in, it’s so important to keep sales cycles and pipelines moving.
“Bamboo’s integration gives Alto estate agents a real advantage in the market.
“Agents using Alto Auctions can speed up their sales by accessing a tried and tested method of sale.”
Rathore added: “One of the great things about this integration is that it’s in one place for the agent – one login, one contract and just a few clicks to sell by auction.”
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