Published: Thursday, 6th May, 2010 12:00pm

Woods enters the auctioneering game

by Sinead Hogan

Comments (1) | Print | Email

Declan Woods.

Well known for his work with Padraig Smith Auctioneers over the past 15 years, Killeshandra native Declan has started his own business, Declan Woods Auctioneers & Estate Agents.

He opened the doors of his office, which enjoys a prominent location at The Plaza, College Street on the main entry to Cavan town, on March 1, 2010.

It's a time when property isn't exactly the centre of the action, so why did he do it?

The time was right for him personally, Declan explains, and, flying the flag of the old-style one-man-outfit, costs are manageable.

"I had been 15 years in the one place and was probably at a bit of a crossroads - stay where I was or move on," says Declan, who also worked in financial services and studied economics prior to branching into auctioneering.

"The industry I'm in is the one I want to remain in. I feel very comfortable in the property sector and I feel I'm reasonably good at the job I'm doing. I had to look at what was the best way to sustain staying in the job I'm in.

I felt I had served my apprenticeship and it was time to do my own thing."

There are up and down-sides to starting a business with the economy at its current ebb, the most notable of the former being that costs and overheads are at a low.

If, as people suggest to him, Declan had started the venture during the boom, he'd likely be in a precarious position now.

He speculates that he might have bought a premises and now be under immense pressure to keep up repayments, or could be tied into a 25-year lease that would probably be 50-60% higher than his present rent.

Declan, who is married with two children and lives in Cavan town is running his business as a one-man-show, for a number of reasons:

"Personally, I feel that a small concern, a single operation with one person in an office, might have a better chance of surviving than larger networks and multiples," he says, explaining that he doesn't employ any staff.

"I think it's a case of establishing a brand on your name and concentrating on an area where you can do it all yourself.

I always felt that the personal touch was important, being hands-on and being there to deal with people. It's about keeping costs down as well.

"I try to be here as much of the time as possible and viewings are at lunchtimes, weekends and evenings… I'm busy enough because I'm trying to do everything and doing it myself.

If I was sitting here looking at two or three people twiddling their thumbs and trying to keep things afloat, that would be very frustrating."

Declan, who is also well known as PRO for the Cavan County Board, believes that the only way is up, on a business front at least (the sporting front, we don't get into).

"Last year was probably the worst year we have seen from a property point of view. We have been three-and-a-half years now looking at the dismay that has been the property market, but there are signs this year that people are beginning to accept that if prices aren't at the bottom, they're very close to it."

He says there's "activity" in that people are looking and making offers, the main lenders are giving loans to first-time buyers again (albeit with caution) and the rental market in Cavan is "very strong".

"Thankfully, I'm getting support, I'm getting some business," he says. "It's going to be hard and I know that. That's just the market.

"I enjoy the job, I always did, and now everything I do I'm doing for myself as well."

• Declan Woods Auctioneers & Estate Agents, Unit 4, The Plaza, College Street, Cavan. Telephone 049-4380038 or 086-8199911.