Search Results for: auctions
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Elite Agent
The social science behind auctions
More than ever before, auctions shape the economy. Sites such as eBay have made them an everyday transaction. The placement of every Google ad is priced by an instantaneous mini-auction. Governments use them to allocate radio spectrum and to run emissions trading schemes. The 2020 Nobel Prize in economics has been awarded to two Americans, Paul Milgrom and Robert Wilson, for their work in analysing…
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Elite Agent
COVID-19 Safety Plans now mandatory for NSW open homes and auctions
COVID-19 Safety Plans are now mandatory for open homes and auctions.
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NEWS
Outdoor auctions now allowed in regional Victoria
Some good news has come at last for the Victorian real estate industry.
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Elite Agent
Only 30 auctions expected this week for Melbourne
Auction activity has taken a hit across the combined capital cities this week, as Melbourne enters its fifth week of Stage 4 lockdowns. The city will hold only 30 auctions, down from 765 auctions this time last week. CoreLogic are tracking 937 auctions in total across the capital cities this week, down from both last week’s 1128 and the 1533…
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NEWS
BREAKING: This weekend’s Gold Coast auctions to be restricted due to COVID-19
Queensland Premier Annastacia Palaszczuk has placed tighter restrictions on gatherings in Gold Coast homes from 8am, on Saturday, 29 August. “Coming into effect from 8:00am Saturday, we are going to extend those limits of people inside your homes to 10 people, and those gatherings outside to 10,” Ms Palaszczuk said. “I think everyone would agree, we acted very swiftly when…
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Elite Agent
How Stage 4 lockdowns will impact auctions, inspections and real estate offices
Real Estate Institute of Victoria (REIV) Chief Executive Gil King has confirmed that all real estate offices in Melbourne will be forced to close for at least six weeks. “We urge you to avoid assuming what will and won’t be allowed until the new directions are published,” Mr King wrote in a letter to REIV members. “We will advise you…
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NEWS
The best suburbs for auctions
CoreLogic’s recent auction data for the June quarter showed that both the number of auctions and the clearance rate dropped significantly. But certain suburbs performed much better than others. In Sydney, the highest performing suburb was Cremorne, with 23 of 30 properties under the hammer selling, a 76.7 per cent clearance rate. Other hot areas in Sydney included Leichhardt with…
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NEWS
The Agency partners with Cooley Auctions in NSW
In line with The Agency’s continued growth, the brand has partnered exclusively with Cooley Auctions within NSW. This partnership brings the award-winning auctioneering service led by Damien Cooley, and his impressive team of 17 auctioneers, to The Agency. The Agency CEO Matt Lahood said Cooley Auctions auctioneering team is the most booked independent auction service in the country. Damien Cooley…
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NEWS
Auctions go back online for some suburbs in Victoria
Public auctions and open for inspections have been taken off the agenda in Melbourne's current coronavirus hotspots. While Victorian Premier Daniel Andrews has ordered the establishment of into the operation of the hotel quarantine program thought to be the cause of the community transmissions, it's a case of back to the future for the real…
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NEWS
Auctions soften over long weekend
The long weekend delivered both a lower volume of auctions and a softer clearance rate as most states and territories kicked back to enjoy the Queen’s Birthday public holiday. This week, CoreLogic reported 694 capital city homes were scheduled for auction, with preliminary results returning a 59.8 per cent clearance rate. The previous week saw 856 homes scheduled for auction…
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NEWS
On-site auctions resume but numbers still low
The number of homes scheduled for auction continues to trend lower, despite most states having lifted the ban on on-site auctions and inspections. Only 365 auctions are scheduled this week, lower than the 480 auctions last week – and it’s likely to be a few weeks before there’s an uplift in scheduled volumes due to agents generally running four-week marketing…
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NEWS
Auctions and open for inspections are coming back!
Real Estate Institute of Victoria President Leah Calnan has welcomed the Victorian Government’s decision to allow on-site property auctions and open for inspections to return to in Victoria with restrictions. The State Government this week announced their plans to ease COVID-19 restrictions in Victoria, which included the welcome news that property auctions and open for inspections can return as of…
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Elite Agent
Clearance rate lifts as on-site auctions ready for return
As auctions prepare to welcome back the public on-site, the clearance rate has enjoyed a boost. CoreLogic notes this week’s preliminary clearance bounced back to 64.5 per cent, marking the first time it has exceeded 60 per cent since late March. Volumes on the other hand, remain subdued. The past weekend saw 473 auctions scheduled, which was down on the…
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NEWS
Auctions and opens are back for NSW
Treasurer Dominic Perrottet and Minister for Health Brad Hazzard said the relaxing of restrictions was a sign of the ongoing success in limiting the spread of COVID-19, but warned there was no place for complacency, with community safety and social distancing to remain an ongoing priority.“Choosing a home is one of the biggest decisions anybody makes, and easing the restrictions…
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NEWS
Auctions nosedive on back of pandemic and public holiday
The number of homes scheduled for auction this week took a dive, with only 314 properties scheduled for auction across the combined capital cities. According to CoreLogic, the lower volumes are partly due to coronavirus reducing the number of vendors serious about taking their property to auction in more challenging conditions, and also because Anzac Day falls on Saturday –…
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NEWS
Clearance rate weighed down by withdrawn auctions
Over 3000 properties were slated to go under the hammer this weekend. But according to CoreLogic 45 per cent were withdrawn from sale and a further 84 per cent of auctions sold prior to the event, resulting in a preliminary clearance rate of 48 per cent.
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INDUSTRY NEWS
High volumes, lower clearance as auctions go online
Auction volumes were high, but as expected, the preliminary clearance rate took a hit across the capitals this week, falling to 61.3 per cent amid continued uncertainty surrounding COVID-19. It wasn’t for lack of innovation, however as agents worked hard to adapt to a fast-changing environment. This week was the first to see all auctions…
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NEWS
Open homes and auctions halted
Real estate auctions and open homes are the latest casualties of the COVID-19 pandemic, with Prime Minister Scott Morrison tonight announcing these were among the events that “cannot continue” in a bid to combat Coronavirus. In an address to the nation, the PM labelled 2020 the toughest year for Australians “Our goal is to combat this together by following common-sense…
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NEWS
Conduct of open homes and public auctions by real estate agents
On Sunday night, the Prime Minister made it very clear that all Australians should immediately cease unnecessary travel and cease all unnecessary social interaction in order to limit the spread of the Coronavirus. With this in mind, the Real Estate Institute of Australia is now calling on all real estate agents across Australia to make significant changes to the way…
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Elite Agent
Auctions busy, but clearance rate slows
This week proved the second busiest for auction activity in 2020, however the preliminary clearance rate took a hit as a result of continued uncertainty around COVID-19. According to the latest figures from CoreLogic, this weekend saw 2,539 homes taken to auction across the combined capital cities, returning a preliminary auction clearance rate of 61.3…
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NEWS
Auctions continue to defy doom and gloom
Auction markets remain strong despite coronavirus concerns, with 2220 properties taken to auction across the capitals this week, returning a preliminary clearance rate of 70.6 per cent. CoreLogic notes this figure is well above last week’s national volume when 1,494 auctions returned a final clearance rate of 68.6 per cent. “After the remaining results are collected it is likely that…
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NEWS
Auctions go from strength to strength
Auctions go from strength to strength The auction market continues to go from strength to strength with 2,446 properties going to auction in the major capitals this week, resulting in a preliminary clearance rate of 77.7 per cent. According to the CoreLogic data, that was a significant increase on this time last year when 2293…
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Elite Agent
Auctions kick up a gear
Auction activity almost doubled this week as the capital cities kicked up a gear following the traditional Christmas slowdown. CoreLogic reported 1122 homes went to auction at the weekend, effectively doubling last week’s total of 625. Higher volumes also equated to higher clearance rates with a preliminary national rate just shy of 70 per cent.…
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NEWS
Ray White ‘Event’ auctions a pointer to a buoyant 2020
Ray White Surfers Paradise Group’s (RWSP) annual The Event auctions, held last weekend on the Gold Coast, have pointed to a robust Gold Coast market, according to RWSP CEO Andrew Bell. A total of 31 properties were sold by the end of Saturday’s auctions, close to $20 million, and a large number are still under…
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GUEST INTERVIEWS
Embracing online auctions: David Scholes
“What is most important is for an agent not to be scared to do something different. Not to be scared to approach an owner with a bold new plan … to differentiate themselves. Be adventurous enough to do something different because, I promise you, owners that have to select an agent are not going to be fazed by a person…
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NEWS
Barry Plant partners with Anywhere Auctions
The timing of auctions can create all sorts of logistical problems for potential vendors or buyers and their advocates. What if you are buying or selling a property that’s in another state or city? What if you are travelling for business or a holiday and can’t be there on the day of the auction? What if there’s an auction on…
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NEWS
“Aussie” Harcourts Auctions to launch in San Francisco
Harcourts International has announced the launch of Harcourts Auctions in the San Francisco Bay area. Previously only available to Harcourts, this move will mean the Harcourts Auctions platform will now be a service model available to all brokerages and brands within the Northern California region. Known for changing mindsets when it comes to the concept of sale by auction of…
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Elite Agent
Auctions aren’t simply for the top-end properties
Sellers who have taken their homes to auctions in spring have been scoring results well above the median prices for their respective cities. Analysis from Domain showed the median price for properties sold at auction in Sydney on Saturday was $1,177,500. The amount is in stark contrast with Sydney’s median home price of $805,424 (CoreLogic).…
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NEWS
Auctions this week: Clearance rates continue to tick higher on low volume
Auctions this week: Clearance Rates Continue to Tick Higher on Low Volume It might be the middle of winter in Australia, but that hasn’t stopped the resurgence in the auction clearance rate across the country. In Sydney, the preliminary clearance rate was up to 81.5%, its highest in more than 18 months. In Victoria CoreLogic…
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Elite Agent
Auctions this week: Using Market Momentum
Even though the weather still says winter, auction markets are warming up right around Australia – the only problem is a lack of stock. This week our auctioneers are hinting this might actually be a good thing for potential sellers. Queensland: Closing the gap Two-time Australasian Auctioneer Of The Year winner Justin Nickerson of Apollo Auctions feels the past week has…
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Elite Agent
Auctions this week: Buyers are back
According to CoreLogic, the first week of July 2019 saw a combined capital clearance rate above 60 per cent for the fourth consecutive week. With the Federal Election now an almost distant memory, Elite Agent spoke to some of Australia and NZ’s top auctioneers to see if buyers are really back, and what the lead-up to Spring Selling Season is…
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FRANCHISE NEWS
Robert Ding brings bilingual auctions and new market coverage to The Agency
One of the only agents to run successful bilingual auctions in English and Mandarin, Robert Ding has been able to provide significant insights into Melbourne’s Chinese buyer and seller property markets. In his core areas of Boroondara and Whitehorse, Chinese nationals, recent Chinese migrants and well-established Chinese residents have been drawn to these leafy municipalities for the great schools, access…
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Elite Agent TV
Using auctions in your marketplace: Josh Hart
Other videos in this series TRANSCRIPT I think in my marketplace one of the key things is actually using auction. We’re a marketplace which doesn’t regularly go down that track but an auction’s all about transparency and showing the full scope of where the market is at. So, I would encourage people in my marketplace to actually use it with…
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Elite Agent TV
Using auctions to build on experience: Karl Secondis
Other videos in this series TRANSCRIPT My advice to an agent coming into real estate is to embrace the auction process because it is a fantastic platform to build your real estate career. It’s a great way to build your profile. Selling properties in less time, the days on market are reduced. You’re selling typically on an unconditional contract and…
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NEWS
EAC embraces online property auctions
The Estate Agents Co-operative (EAC) has paired with Sale Ezy to offer online property auction capability to their members. Described as “Australia’s first and most cutting-edge, end-to-end online sales and auction platform”, Sale Ezy will allow agents to host online property auctions while ensuring all compliance issues like vendor ID checks are taken care of. It will also allow the…
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