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When you’re selling your property, it’s of vital importance to know who you’re working with.
This is our independent Network Auctions review. Our private researchers analysed their company records, strengths and weaknesses.
In here, you’ll find everything you need to know about Network Auctions and whether you should trust them to sell your property quickly.
Your next step
Once you’ve read our impartial guides, you’re completely free to choose an auction house or a cash homebuyer and contact them yourself. There’s no obligation to use our introduction service. We’ll be happy to have helped you to find a company you can trust and stop you being taken for a ride. Our work here is done!
However, we understand that choosing a company to buy or sell your home is a big decision, so if you prefer, you can break it down into easier steps.
First, click the cash offer calculator button below to see how much cash buyers offer for properties like yours. It’s completely free to find out, and it only takes a couple of clicks. You don’t have to give any personal information, just an estimated value of your home.
Then, if this figure works for you, simply add a few more details of your home and we’ll connect you with the cash homebuyer we think is best suited to you.
If you’d rather take the auction route, click the ‘free auction appraisal’ button and we’ll put you in touch with the auction house that we think is the best fit for your property.
Our recommendations cost you nothing and they guarantee you the very best service. The PSW is well-respected within the industry and companies will go all out to prove that they’re worthy of our recommendations, so that we keep sending customers to them.
Click below to start your home selling journey.
Company
Established in
2005
Members of RICS
Yes
Members of Propertymark
Yes
Trading standards approved?
Yes
Members of TPO
Yes
Registered with ICO
Yes
How often are auctions held
Approximately every six weeks
Online auctions
Yes
Fees
Standard auction commission fee of 2.5% + vat
(Min £2,500 + vat)
Complaints procedure
Yes
Customer service
4.7 / 5
Google rating
4.7 / 5 (36 reviews)
Network Auctions is a medium scale auction house that combines local expertise and exposure with a national buyer database. They operate through a network of partner agents across the country to promote properties, with auctions held online every six weeks or so.
- PSW Rating
4.7 / 5
1. Network Auctions: Company Overview
(source: Companies House)
- Listed with Companies House: 27th February 2009
- Registered Office: 85 Great Portland Street, First Floor, London, England, W1W 7LT
- The current directors are: Guy Charrison, Stuart Elliot, Toby Limbrick
- Company number: 06832053
- All the information seems up to date and correct
Network Auctions are an online auction house that offers online national property auctions, backed by partnerships with local estate agents to promote the properties. They operate at the medium scale, with their last auction listing 47 properties. 20 of these were sold, 3 went unsold and the rest were either listed as either withdrawn or postponed.
They specialise in residential property, which makes up around two thirds of their auctions, as well as land which makes up around a quarter of their portfolio. They are the only specialist ground rent auctioneer in the UK selling freehold ground rents for investors.
2. Network Auctions: Strengths & Weaknesses
Network Auctions have been trading since 2005, however their team has much more experience than this. The three directors have all been in the property business since the 1980s, boasting a combined experience of over 120 years. According to their website, it is this experience, combined with high professional standards, that attracts their clients.
Are they Propertymark members?
Most UK auction houses are a member of Propertymark and Network Auctions are no different. They are members of the National Association of Valuers and Auctioneers (NAVA), which is one of the five associations (ARLA, NAEA, NAVA, ICBA and APIP) which formed Propertymark in 2017.
By using a Propertymark Protected member you are guaranteed to be consulting with a professional who will give you up-to-date advice and guidance. Propertymark regulates members’ activity according to a code of conduct and rules, with disciplinary action for instances of non-compliance.
NAVA Propertymark have adopted RICS’ Common Auctions Conditions for auctions of real estate in England and Wales. The seventh edition was published in March 2018. The Common Auction Conditions are designed for real estate auctions, to set a consistent practice across the industry.
Are they TPO members?
Network Auctions are members of the Property Ombudsman and adhere to their strict code of practice. TPO is a government-approved trade body that protects property sellers.
Membership of TPO gives customers a route for complaints and grievances, with independent adjudication on disputes. The complaints enquiry telephone number is 01722 333306. Lines are open Monday to Friday from 9am to 4:30pm (excluding bank holidays). You can also complete a form online on the TOP website.
Are They Regulated By RICS?
Yes, Network Auctions are regulated by the Royal Institute of Chartered Surveyors.
Under RICS rules, auctioneers selling real estate (incorporating Common Auction Conditions) must ensure that clients are provided with terms of engagement that are fair and clear. These should meet all legal requirements and relevant codes of practice including reference to complaints-handling procedures and, where it exists, an appropriate redress scheme.
They must also do the utmost to avoid conflicts of interest and, where they do arise, to deal with them openly, fairly and promptly.
Are they Registered With The ICO?
Network Auctions has been registered with the Information Commissioners’ Office since 2017.
The Information Commissioner’s Office (ICO) is the UK’s independent regulatory body set up to uphold information rights. The ICO also governs all forms of data collection and advertising intelligence. The ICO has a Free Online Checker where you can verify whether a company is registered with them or not.
Are they GDPR Compliant?
The Network Auctions website lists comprehensive privacy and cookie policies that show that the company is GDPR compliant in how they collect, store and use your data.
However, it’s worth noting that they will use these cookies to direct advertising to customers, with their cookie policy stating that ‘We use cookies to personalise content and ads’. That said, they do make it easy to change your cookie consent with a link at the bottom of their web pages.
Users should be aware that their details may be provided to other companies and services, who may send unsolicited emails or call you directly. Users are urged to err on the side of caution when providing personal information, and always read any cookie / data use agreements carefully before clicking your consent.
Have They Traded For More Than 5 Years?
Network Auctions have been trading for around 20 years and have been registered with Companies House as a limited company since 2009.
We use the ‘over/under 5 years trading time’ as a metric to gauge whether a company is an established entity with a lot of experience under their belt, or just a newly founded business that may not have the expertise or reputation you can rely on.
However, it’s worth remembering that a relatively new company can be formed by established industry experts, as is the case with Network Auctions.
How often Are Auctions Held?
Network Auctions hold auctions online every six weeks or so. Interested parties can watch online without needing to register. However, if you want to place a bid, you need to have registered in advance and provide information such as your source of funds.
While these auctions are held online, they are still traditional auctions, with bidders placing bids competitively at the time until the virtual hammer comes down. They do not use the modern method of auction where properties are available for bids for several weeks.
what does it cost to sell with Network Auctions?
Network Auctions charge a standard auction commission fee of 2.5% + vat, with a minimum of £2,500 + vat. As a seller, you will need to pay auction entry fee of £500 + vat in order to be listed. You will not get this back, even if the property does not sell at the auction.
Buyers have to pay a one-off admin fee of £1,000 + vat on top of their purchase price.
Naturally, the fees will vary depending on a number of factors, including the type of property, the property value etc. Prospective sellers are advised to contact the auction house directly for an up to date quote on your property or properties.
How long does it take to sell?
With a traditional auction, buyers will exchange contracts on the day and must complete the sale within 28 days. This provides the seller with a very swift sale, however it may not leave enough time for potential buyers to arrange a mortgage and so will limit the market to developers, professional buyers and people buying with cash. If you do not sell, you will have to wait for the next auction, which will add around six weeks or more to your sale time.
Network Auctions do not share information on their average time to sell on their website, or on their success rate for selling properties. However, in their most recent auction (at the time of writing this review – July 2024) 21 of the 65 properties were sold (32%), with 13 unsold and the rest either postponed or withdrawn.
Anything Else Suspicious?
We didn’t find anything that raises suspicion during our thorough research of Network Auctions. Our investigators sifted through all of the data and legal records of Network Auctions and everything was clean.
However, we’ll redact this paragraph at the first glimpse of dodgy practices.
We never stop researching and our unbending commitment to excellence doesn’t waver. This paragraph is only valid up until the ‘Last Updated’ date of this review, which can be found at the top of this page.
Anything Else You Should Know About?
As far as we are aware, Network haven’t received any additional awards or prizes.
There’s nothing more we could add.
3. Network Auctions: Customer Experience
To assess the overall user experience (UX) of Networkauctions.co.uk we first analysed their website for ease of use and intuitiveness.
There is limited information available on their website, which is mainly focussed on listings for their next auction. There are, however, some useful articles, such as ‘auction terminology 101’ which sellers will find useful and informative.
They also have a feature whereby you are able to get auction catalogues sent directly to your inbox, along with market reviews and news.
First Response Time
We calculated their First Response Time (FTR) by messaging them at approximately 3 PM on a non-holiday weekday (on a Thursday to be exact) and used a stopwatch to estimate how long it took them to respond.
Network Auctions responded in 1 minute 24 seconds.
Which is much faster than the industry average. And a fast FRT is something we consider highly important, especially in this sector.
A faster response time suggests that the auction house is better equipped to deal with customer queries.
And if they’re better equipped to deal with customer queries, then it means they’re investing their resources where it matters the most.
Client Satisfaction Guarantee
We also asked if they offer some sort of ‘Client Satisfaction Guarantee’, and if yes, what would that guarantee consist of.
They currently don’t offer a Client Satisfaction Guarantee but they’re happy to help resolve any issues and problems, within reason, as soon as possible.
Client Complaints Procedure
Any company worth its salt should have a formal complaints procedure on their website, where clients can express any disagreements, issues or just plain dissatisfaction with the overall service.
By having such a complaints procedure in place, the company shows that they are willing to listen and if possible, rectify any problems that may arise.
Network Auctions has a published complaints procedure which details the steps to take if you have a complaint, as well as the timescale in which you should expect a response.
If you are still unsatisfied after following the steps laid out in the complaints procedure, you can raise the issue with the Property Ombudsman.
Speaking To Past Customers
A legitimate auction house that does what it promises shouldn’t have a problem letting you speak to their past customers.
Of course they need to have the permission of the individual involved and provide some kind of proof that it is a genuine past client of theirs.
We strongly encourage all our readers to ask to speak to a past client.
4. Network Auctions: Online Presence
In this section, we’ll discuss what the public thinks of Network Auctions and what online reviews the company has received.
Keep in mind that online reviews can be easily faked. The company in charge might hire fake review writers to write positive reviews. Or on the other hand, their competitors might hire fake review writers to write negative reviews and tarnish the said company’s reputation.
Also, social media followers can be artificially inflated.
That’s why we deem this section as purely anecdotal.
Customer reviews
- Google rating 4.7/5 (36 reviews)
These reviews were almost all five-star reviews from very happy customers, with just two or three one-star reviews from disgruntled customers bring down the average.
It’s worth noting that Network Auctions have reached out to all the negative reviews personally to try to resolve their issues.
Domain Rating
- Domain Rating (DR) – 52 / 100
- Search Traffic – 9,500 unique visitors per month
Social media presence
- Facebook – 699 Followers
- X (Twitter) – 4038 Followers
- LinkedIn – 608 Followers
- Instagram – 816 followers
We didn’t find anything suspicious with Network Auctions’ social media or online presence, nor with their customer reviews.
We also didn’t find anything suspicious with their domain rating and backlink profile nor their unique monthly search traffic.
Media Mentions
- N/A
TV Channel Features
- N/A
We didn’t find anything suspicious with Network Auctions’ social media or online presence, nor with their customer reviews.
We also didn’t find anything suspicious with their domain rating and backlink profile nor their unique monthly search traffic.
The Final Verdict
Network Auctions offers a traditional auction service, with auctions held online every six weeks or so. These national auctions are backed up by partnerships with a network of estate agents who assess properties and promote them to the local market.
This gives sellers the best of both worlds, with access to both interested local buyers and a nationwide reach of property investors.
The Network Auctions team has over 120 years of combined industry experience between them and can offer expert advice.
Network Auctions are members of the NAVA, RICS and TPO, and they are registered with the ICO. They have a clear complaints procedure and are regulated by RICS and NAVA Propertymark. Unresolved complaints may be escalated to The Property Ombudsman.
They have an informative website with useful articles and guides to help buyers and sellers who are new to property auctions.
In summary, Network Auctions offer a national service, delivered online. This significantly increases their reach over a local auction house, but it may compromise their level of service and local knowledge.
We will be continuously updating this review as we do with all of our other content. If Network Auctions decide to alter, amend or modify something, then we’ll make sure to adjust our critique and score accordingly.
Get The Best Cash Offer For Your Property
We’ve independently investigated all the UK’s top fast home buyers with our cast-iron 18 point checklist.
And by using the free Safe Connect™ programme we’ll introduce you to our most recommended & strictly vetted home buyer.
The Safe Connect™ programme was created to ensure you not only get the best possible, genuine cash offer, but also to protect you in this unregulated market.
If you click the orange button below, we’ll automatically Safe Connect you to the best property buyer in the UK – as vetted by our team of investigators. And most importantly, you’ll see exactly why we objectively classified them as the best property buyer in the UK.
Your next step
Once you’ve read our impartial guides, you’re completely free to choose an auction house or a cash homebuyer and contact them yourself. There’s no obligation to use our introduction service. We’ll be happy to have helped you to find a company you can trust and stop you being taken for a ride. Our work here is done!
However, we understand that choosing a company to buy or sell your home is a big decision, so if you prefer, you can break it down into easier steps.
First, click the cash offer calculator button below to see how much cash buyers offer for properties like yours. It’s completely free to find out, and it only takes a couple of clicks. You don’t have to give any personal information, just an estimated value of your home.
Then, if this figure works for you, simply add a few more details of your home and we’ll connect you with the cash homebuyer we think is best suited to you.
If you’d rather take the auction route, click the ‘free auction appraisal’ button and we’ll put you in touch with the auction house that we think is the best fit for your property.
Our recommendations cost you nothing and they guarantee you the very best service. The PSW is well-respected within the industry and companies will go all out to prove that they’re worthy of our recommendations, so that we keep sending customers to them.
Click below to start your home selling journey.
If you use the Safe Connect™ programme to connect with a cash home buyer, we’ll personally hold them accountable. We’ll ensure they go the extra mile and treat you like a VIP.
The Safe Connect™ programme is a free service. There are no additional fees or costs on your end.
Safe Connect™ ensures there will be no last-minute price drops and no nasty surprises. It’s quick, easy and it eliminates all headaches.
Our strictly vetted partner will know that you’re coming through Property Sale Watchdog and they won’t dare to mess you around.
Compare Companies
Network Auctions is just one of the many fast home-buying companies in the UK.
In order to make sure you choose the right one, it’s best if you compare them all.
Look at their strengths & weaknesses, their pros & cons and make an informed decision.
It’s essential to know you’re in safe hands, that’s why we’re here to help.
Use our company comparison table to find a reliable and trustworthy service, and decide whether expediting the sale of your property is the right thing for you.
Content Updates
This review is being constantly screened by our investigator team and will be corrected in line with the emergence of new evidence.
If a company contacts us with a genuine and verifiable piece of information which supports their cause, then we’ll immediately redact the review and point to the new information.
On the other hand, if we discover that a company which we’ve previously praised for a certain industry trait, starts to dabble in dodgy practices, we’ll also redact the review immediately.
We’ll point to our new findings and we’ll adjust the table metrics and scores accordingly.
For this reason, make sure to take notice of the ‘last updated’ date at the top of this page.
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