The Guild of Property Professionals has announced the sale of its first property through Guild Auctions, a new white-labelled offering powered by IAM Sold.
The Guild of Property Professionals announced the partnership in June.
The property, in the north-east, sold for £875,000 through Guild Member Dobsons.
As a result of this sale alone, Dobsons will collect a commission of over £18,000.
With Guild Auctions’ self-billing arrangement, they will receive the commission before August 21 directly from The Guild.
Under the system, each property is listed for four weeks and potential buyers are invited to participate in a virtual auction to sell the home.
Guild CEO Iain McKenzie said: “I’m really pleased with the first sale and would like to extend my congratulations to Dobsons on a job well done.
“I am sure this will be the first of many homes sold through our online auctions service.”