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Annika Kisby is a graduate surveyor specialising in auctions at property firm Allsop. She studied geography at the University of Leads and then completed an MSc in real estate at the same university.
Auction is unlike any other area. The work can be extremely hectic, with the phones ringing non-stop. With six commercial auctions each year – and anything up to 300 lots per auction – organisation and time management are absolutely key. You definitely never clock watch.
The auction timetable is split into four distinct sections over about 6–7 weeks: firstly, inspecting properties and getting instructed by clients, then sorting out the catalogue and website entries, thirdly marketing the property, and finally the auction day itself. I spend some weeks out on the road inspecting properties, which could be anything from a high street shop to an office or industrial unit. Other weeks I am in the office preparing details, talking to solicitors, marketing properties, answering enquiries, advising clients or speaking to agents regarding the market.
Being in the auction room is exhilarating particularly when your lot – the property that you have taken on, inspected, marketed and helped set the reserve for – comes up for sale. With some 500 people in the room, and with bidding often fast and furious, the adrenaline kicks in. Then you relax as the hammer goes down, signalling that your lot has been sold. It is also fascinating to see who is in the market and buying, to analyse the yields, and to see how quickly millions of pounds worth of property can disappear under the hammer.
I could end up as one of the next generation of auctioneers – my firm sponsors a national auction competition, and they encourage us all to compete.
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