Hunters has switched its white-labelled auction service from Essential Information Group (EIG) to a younger provider.

The estate agent brand will now use Bamboo Auctions for its 200-strong franchise network.

Hunters has signed on an exclusive basis with Bamboo Auctions alongside national agency Fisher German.

Gemma Jaques, auction manager at Hunters, said: “We are pleased to be working with Bamboo Auctions, which enables our local franchised agents to participate in property auctions throughout the UK.”

Stuart Flint, partner in charge of transactional business at Fisher German, said: “Online auctions offer numerous advantages for us and our clients, and given the transparency of the process and the high level of visibility, I foresee huge growth in this method of sale.

“The system allows our private clients to enter appropriate lots all year round, alleviating the need to wait for an appropriate collective auction but it is perhaps our corporate clients and other institutions we act for who may see the greatest benefit.

“These clients in particular will see the advantages of this open pathway to sale and probably the ultimate test of market value attainment.”

Bamboo Auctions launched in 2014, founded by solicitor Robin Rathore.

It is a much newer player than EIG, which has been around since 1994.

Rathore said: “We are delighted to be working with such reputable agents as Hunters and Fisher German. Our aim has always been to grow the auction sector as a whole, through greater use of online auctions, and we’re excited to be working with these innovative agents to achieve this ambition.

“Asides from being more cost effective and delivering more value for money for agents, one of the major attractions of working with Bamboo is that we do not disrupt the agent’s relationship with their vendor.

“We believe that an agent’s good reputation is one of the cornerstones to their success. There is no substitute for a handshake in this industry and we recognise that.

“Instead, we provide the technology, support and know-how to make agents’ jobs more efficient.”