Case Study

EIG provide industry statistics to a regional auction house looking to grow

Publish Date: 27 April 2017

By Beth Fox

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Further reading

Online property auctions provide greater bidding opportunities to buyers

The benefits of using EIG to a new property developer

Essential Information Group supply the national and regional statistics for the property auction industry

EIG have provided statistics for the Bank of England, national news reports, Estates Gazette, plus many other publications and we regularly receive requests from the 400+ Auction Houses across the UK. 

Case Study: Using statistics for business growth

An auction house got in touch with EIG Managing Director, David Sandeman as they were looking to grow their auctions this year by opening another auction room in a new location. They were planning to hold a launch event for prospective partner agents and thought it would be really useful to have some statistics about property selling at auction in the new target postcode area to use as a tool to help entice the agents to come to their launch.

The data request:

"We are looking to grow our auctions this year by opening an auction room in Luton with the first auction taking place in April. We are holding a launch evening in a few weeks for prospective partner agents and it would be really useful to have some figures about property selling in Luton at auction to use as a tool to help us entice the agents to come to our launch. Whilst the auction room is in Luton we are looking to sell within the Luton area not just Luton town centre so we are referring to properties within the postcode area of LU1 - LU7."

How statistics can help

The information required covered the number of properties in Luton sold by auction and/or offered for sale by auction (regardless of sale room or auctioneer) and the number of properties sold in Luton through London auction rooms, both referring back to the postcode area specified. In this instance we were asked if we could provide the information ideally in a format that they could present directly to the agents, such as a bar graph or pie chart for example. EIG provided Auction House with the requested data and were happy to help by supplying the statistics both graphically and in numerical format so they could be used directly to support the launch event.   

Feedback

"Thank you, this will be very useful and I appreciate the speed in which you got this information to us."

"I was particularly impressed with how quickly EIG got us the data."   Fiona Webb MRICS FAAV - Auction House (Beds & Bucks)  

Looking for industry statistics?

Are you interested in receiving a statistics report for your area/region or would you like some further information?

Call us to see how we can help you: 01737 226150