Based on 18 Reviews
12 Month's Data
12 Month's Data
12 Month's Data
12 Month's Data
Above Average
Allsop Residential Property Auctions is a reputable property auctioneer established in 1906, typically running 8 live events per year.
Allsop’s auctions are multi-channel and offer bidders the opportunity to bid in-room, online, live stream, by phone or proxy.
The auction house has sold 3,438 properties in the past 12 months raising £1.065 billion in sales.
Allsop Auctioneers operates across England and Wales (with a notable presence in London).
Allsop’s principally operates in the residential auctions space (which takes up 72.1% of their total sales) but also has a commercial property and land auctions department (taking up the remainder 27.9% of total sales). Allsop’s auction property stock (both residential and commercial) is advertised on their website.
Allsop Auctions sells properties that range from £500 for a small plot of land in Wales (CF40) to £4.48 million in London (NW10).
The average price of Allsop’s residential auction properties is £218,918. With the UK national average house price standing at £289,707, it would be fair to say that they generally cater to the mid-range section of the market.
Using data from the UK’s top 50 auctioneers, the national average sales price was £149,062 for residential property auction sales over the last 12 months.
Below is a table of the spread of Allsop’s sold auction property prices:
Allsop’s Auction Sale Price Range | Share of Total Auction Sales |
---|---|
Under £100,000 | 46.11% |
£100,000 – £200,000 | 25.63% |
£200,000 – £400,000 | 16.25% |
£400,000 – £600,000 | 5.01% |
£600,000 – £800,000 | 3.46% |
£800,000 – £1 million | 1.27% |
£1 million and over | 2.28% |
Allsop Auctions has sold 4,447 of the 5,064 – or 88% – of the residential property lots listed in the past 12 months.
This puts them in position number 5 out of the top 50 auction houses in the UK. They are number 2 in terms of the amount of money raised in property sales at auction, second to Savills Auctions.
Having a higher percentage of lots sold is usually a sign that the auctioneer has the relevant expertise in pricing auction properties realistically. It also means that the auction house has well-run operational practices – including legal – to be able to progress sales efficiently within the required timeframes.
Property Auctions News track sales data and base market share on the number of properties sold relative to other UK auctioneers.
With 4,447 sales in the last 12 months, Allsop Residential Auctions currently has a 16.09% share of the market, putting them in 2nd position in terms of lots sold.
It’s worth also talking to smaller and often more “nimble” auctioneers who often benefit from offering a personalised service. Many also have experienced
Allsop’s auction service is reviewed across a number of online platforms including TrustPilot, Google Review and GetAgent and has an average review score of 3.53 (out of 5).
Trustpilot Allsop Reviews currently shows a 2.4 rating, classifying them as “Poor”. One reviewer described the auction house as “slow, lazy, untrained staff with no interest in customer service”. On the other hand, a 5-star reviewer was impressed with achieving £90,000 over the asking price and “highly recommended” their services.
Google My Business Allsop Reviews currently shows a 4.1 rating with one client being “shocked and disgusted at the level of dishonesty” in his dealings with the auctioneer. There are, however, multiple 4 and 5 star reviews by both sellers and buyers who were impressed by the service received.
Get Agent’s Allsop Reviews currently shows a 4.1 rating with 21% of reviewers leaving a 1 star review with one stating that he experienced a “shockingly bad service”. 75% of reviewers nonetheless gave Allsop’s 5 stars on the platform.
Reviews of auctioneers must be viewed with caution as these are personal experiences and due to certain expectations. It’s always verifying the accuracy of the review and researching the track record of the auctioneers.
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Allsop Residential Auctions charges the following to market and sell a residential property:
Allsop Residential Auctions will charge a fee of 2% + VAT of the auction sale price directly by the seller, usually upon successful completion. Note that there is a minimum fee of £2,000 + VAT.
There will be an additional fee of £650 to £750 to add the property at auction charged to the seller. This fee typically covers marketing material (photographs, the floorplan producing the EPC) alongside other administrative costs completed by Allsop’s. Note that this will be charged regardless of whether the property sells or not (although you will not need to pay the fee should you decide to relist if the sakle is unsuccessful).
Buyers pay a premium (reservation) fee of £1,750 to Allsop Residential Auctions at the fall of the hammer. Note that this can vary in line with the value of the property and the type of auction.
Unlike some auctioneers, Allsop’s does not charge an administration fee. This are usually paid by the buyer at the fall of the auction hammer and covers the necessary paperwork that will need to be completed for the sale.
There are legal fees that both parties must pay, which are independent of the auction house.
It’s generally always recommended for a solicitor (conveyancer) to prepare an auction legal pack. This is because the buyer will effectively be committing to purchase the property at the fall of the hammer and would therefore need as much background information as possible.
The legal pack will typically contain: Title Register (Deeds), Title Plan, conveyancing searches (buyers may choose to take out specific indemnity insurance policies), latest Energy Performance Certificate, terms + condition of sale, Special Conditions of Sale, completed Law Society Forms (TA6, TA10, TA7, LPE1, LPE2), Leasehold Management Pack, Tenancy Related Information.
As a seller, you may choose to pass these on to the buyer which will be written into the Special Conditions of the auction contract. Bear in mind, depending on how “in demand” the auction property is, it may result in bidders offering lower to factor in the costs.
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Allsop’s runs residential auctions every 6 weeks, but they may increase the frequency if there is surplus stock that needs to be sold.
As one of the well-established industry operators, Allsops operates traditional or unconditional auctions.
This means that there is a marketing and viewing period prior to the auction and when the online gavel falls, contracts are immediately exchanged. At this point, the buyer will typically pay 10% of the auction property’s sales price alongside a buyer’s premium.
The buyer then has 28 days to complete on the sale or else face financial penalties (stipulated in the auction terms + conditions).
No, Allsop’s specialises in traditional 28-day unconditional sales. At the seller’s request, the period between the fall of the hammer (exchange of contracts) and completion. This is typically 42 days (6 weeks) but can potentially be extended.
Depending on the level of interest for a given property, Allsop’s will open up the bidding on a set day or time period. These days most of their auctions are live-streamed and bidders can also participate online, live stream, by phone or proxy.
Allsop Residential Auctions market properties using a mix of strategies and processes to encouraging strong bidding activity on auction day.
Regardless of whether you’re buying or selling at auction, remember to take the time to understand how everything works from start to finish to avoid any misunderstandings.
Upon signing up, the auctioneer works with the seller to organise high-quality photos, floorplan, an energy performance certificate (where necessary). Allsops will then prepare the listing in line with the relevant guidance – this will include the terms + conditions (typically in line with RICS Common Auction Conditions) and detailed information regarding the property and the auctioneer’s full contact details.
In addition to Allsop’s own website, the listing will be fed through to the major property portals including Rightmove, Zoopla and On the Market. Given the auctioneer’s experience, they can make use of a “black book” of investors (and their specific criteria) as well as use social media and email campaigns to reach potential buyers.
They use traditional and “offline” methods for the auction which may include auction sale boards, brochures and local marketing through their estate agents partners.
Allsop Residential Auction do hold open houses/ viewings before the residential auction with registered buyers and these are during a set period of x days/weeks before the auction begins.
A member of the Allsop Residential Auctions will carry out a market valuation of the property. They will use an independent valuer/use their valuation team to make the valuation. They will discuss a suitable reserve price with the seller.
Remember also that the premium will be added to your gross stamp duty calculation as it’s deemed as being the total cost of the property.
If the property fails to sell at auction, Allsop Residential Auctions could (extend the contract/enter the lot at the next auction for no cost/an additional cost)
If the property is still unsold after (amount of days), you’re released from the contract sale.
Sellers should always review feedback to find out why it didn’t sell on residential auction. It might be the case the reserve was too high or insufficient interest. It’s worth reviewing the price and type of auction.
Allsop Residential Auctions runs (weekly/monthly) property auctions and offers (non-conditional and conditional) online auctions.
Lists of upcoming auction events from the auction house: