Online home auctions across Australia may be on the rise

Considering that real estate is such a popular spectator sport for Australians, the concept of social alienation or self-segregation may be an obstacle to finding a home.

Since self-isolation has become a reality for Australians, once simple tasks are completed,


With the development of the coronavirus crisis, buyers and sellers will still be able to control, and industry insiders have been concentrating Energy, because spending Saturday on a crowded open house, or participating in a busy auction can become tricky.

McGrath Estate Agents CEO Geoff Lucas stated that their business will continue to monitor all developments related to COVID-19 to ensure the health and safety of customers and agents.

"The steps taken by the government and health authorities are to reduce their spread, and we ensure that all employees comply with their recommendations on social alienation and hygiene, especially during open home inspections."

Technology has made a difference.

For years, people have been able to take virtual tours of listed real estate, and even watch or even participate in real-time streaming auctions. [19659003] But now, these were once "extra "East-West" high-tech services have become an important part of buyers and sellers who are unable to conduct auctions or inspections due to travel restrictions or self-segregation. [19659003] "Virtual tours and virtual inspections can support overseas buyers, and those who cannot People attending open visits to inspect the property. Mr. Lucas said:

"I believe that in the coming months, as we look back on this period together, we will realize the benefits of technology educating employees in different ways of working. This crisis will actually Transforming the way companies view remote and flexible work arrangements and taking advantage of rapidly emerging technologies to adapt them to a flexible workforce will produce a permanent, positive change. "Mr. Lucas said.

Online auction streaming services and applications such as Gavl are set up to help buyers and sellers bid by observing the falling mallets of a house.

Leon Axford of Axford Auctions has been using Gavl for many years and stated that the technology can enable

"We need to observe what happens every week, every day, every day-it will continue to develop. For us, to solve This is a rapidly changing situation, "he said.

"I don't see 15 registered bidders, and no one bids through any application. I think this will be a weird place where people do nā€™t want to participate or cannot participate, and then we can say" We have this option for you "," Mr Axford added.

"Basically, this is a list of

Sydney vendors that have not yet converted their planned live auctions to online-only auctions." But brokers expect that this situation may be possible with the advent of this technology will happen.

In the past few years, auctioneer Damien Cooley from AuctionNow has developed a prop technology platform.

"No one has booked a timed online auction for Sydney homes yet, but this week we got a few calls to book in the next few weeks, which allows buyers to watch and bid online, anywhere, Buy and exchange. "Curry told the Daily Telegraph.

"No matter what challenges we currently face around COVID-19, it is the future of real estate.

Professional advice for buyers

The Association of Real Estate Buyer Agents (REBAA ) Chairman Cate Bakos speeds up global restrictions on COVID 19, sellers are likely to choose to accept early offers to "make money and run" rather than risking a smaller group of buyers.

"Another On the one hand, a smaller auction crowd could show that she said: "This has a clear advantage for buyers who want to negotiate with less competition."

"As a buyer, understand the seller's motivations and ensure that you are in contact with the relevant real estate agent. It is important to have regular public conversations. "

Ms. Backos said investors and buyers need to think twice to determine whether the property they are focusing on is likely to be pushed all the way to the auction market in the current coronavirus climate . 9003] "We can expect to see some buyers who decide to withdraw from the market, but we also see some missed buyers who missed the opportunity to repurchase goods in softer conditions last year and are eager to make up for what they committed last year She said.

To navigate these unprecedented waters, Ms. Backos said that buyers should follow some simple steps to successfully purchase the next property.

Understand the seller's sales motivation

Now, Ms. Bikos is more important than ever, and it is important to find out the seller ā€™s motivation for selling. "If this reason is not very firm, then it is very likely that the property will be withdrawn from the market. .

Discover how competitors are tracking

"Try and understand how many other buyers are seriously interested in the property and what they are talking about. A dialogue with a sales agent should determine how many other motivated buyers there are.

Maintaining a dialogue with the seller's agent

She emphasized the importance of communicating with the seller's agent to understand how the seller tracks and whether he owns the property.

Ready to purchase

"To make sure that the seller is ready to accept an early offer, please prepare to buy. Also, make sure you are financially prepared and have performed appropriate due diligence, so if You get your auction up early and you will be ready, "said Ms. Bakos.

Good at negotiating

In the case of the seller's decision to suspend the auction, Ms. Backos added that the savvy buyer is "the one who is ready to transform the auction scheme into privately feasible negotiations for the buyer . "

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