Hola again, well I did say all this to the programmers but they have to keep their figures up so I do understand their dilemma. On re-watching the programme (yes I will be selling signed copies) good points did come through and it vertainly hasnt put off the flood of people who have a) looked at my website and b) contacted me wanting to buy and sell so there is confidence in the marketplace and it is actually back to a normal market (pre-mad offplan speculative driven by greed scramble)
We have a lot of Spanish buyers and I am intending to take the auctions to the Spanish market place - it was the long term goal!
With regards to transparency, I have a reserve price in place agreed between myself and the owner. I do have discretion but usually only within my fee! Which I have to say I often drop to close the gap in a deal. The guide price is pointed out as a guide price only and buyers can visit the property and request the legal pack at any time.
In the auction room, as anyone who has actually attended one of my auctions, all the terms and conditions are firstly printed out on the walls to be seen and I read them out.
Buyers bid and if they are on or over the reserve, they win the property. Once the property has a bid on reserve I actually let people in the room know this by saying the property is in the room to be sold.
So I find it a little hard to swallow when you say there isnt total transparency.
After auction all bids are told to the sellers so they are aware exactly the situation of their proeprty in the market place. All offers without question are put to them. I follow the UK estate agents act closely and beyond it - there are no rules here as auctions in this manner do not exist in Spain
However, other companies who have tried the auction route have taken my lead both in due diligence and in fee structure.
PS auctions in the UK do not offer full money back guarantees - I do!
Caveat Emptor should be in mind wherever you purchase property. Good day to you all.