Savills has amended its website concerning auctions after a complaint to the Advertising Standards Authority. The complainant challenged whether the listed guide prices were misleading. A spokesman for the ASA told Estate Agent Today: “We contacted the advertiser with these concerns. It made changes to the ad which we considered made the reserve and guide prices clearer. By making the amendments it helped ensure that the relationship between guide and reserve prices was clear.” The issue was judged by the authority to have been informally resolved. Still with auctions, Allsop says it raised a total of £425m and hit a success rate of 79 per cent last year. The success rate was marginally better than that achieved in 2016 and the total raised only £7m below - highly encouraging, the company says, given that 2016 had seen a surge in activity ahead of the stamp duty surcharge introduction. Across the UK commercial and residential sectors Allsop raised a total of £1.034 billion, with an overall success rate of 82%
A complaint to the Advertising Standards Authority (ASA) has led to Savills making changes to the reserve and guide prices given on its website. The complainant said listed guide prices were misleading and the ASA confirmed the issue had been informally resolved. Meanwhile, Allsop reported auctions totalling £425m ($604m) with a success rate of 79% for 2016. This total is down £7m but with a slightly better success rate than 2017, which the company said was encouraging given the high activity levels that year before stamp duty increases took effect.