Real Estate News

realestate.com.au launches online auction integration to support social distancing

realestate.com.au has announced the launch of Online Auctions to further support the property industry in adapting to new operating conditions. The new feature enables real estate agents to promote their vendor’s upcoming online auction on realestate.com.au and seamlessly link through to an online auction technology platform.

realestate.com.au has announced the launch of Online Auctions to further support the property industry in adapting to new operating conditionsThe new feature enables real estate agents to promote their vendor’s upcoming online auction on realestate.com.au and seamlessly link through to an online auction technology platform.

REA Group General Manager Core Products, Tim Bradley said, similar to the launch of Digital Inspections last week, the turnaround time for the Online Auctions feature was pivotal.

“We wanted to minimise any disruption and ensure that buyers and sellers could continue to transact virtually given the new Government restrictions announced last week,” Tim said.

“We’ve had an amazing response to the launch of Digital Inspections with almost 30,000 active Buy listings on realestate.com.au now featuring a virtual tour of properties. Online Auctions is another user-friendly feature to cater to today’s new operating environment.

“Properties going to auction through AuctionNow can feature links from the realestate.com.au listing to the online auction from today. This will help reach multiple online bidders, no matter where they are. The feature will be available to other online auction providers in the coming weeks.”

REA Group Chief Sales Officer, Kul Singh said REA was leaving no stone unturned to ensure agents and property seekers were supported with the relevant features and services to suit today’s rapidly evolving market conditions.

“We’re doing everything we can to support the property industry as we navigate the new ways of working. Auctions have played a part in how we’ve come to transact real estate for many years so we’re pleased to help deliver this online capability to our customers and their clients to keep that tradition alive,” Kul said.

AuctionNow is a leading online auction provider and has been in operation since 2017. Founder and auctioneer, Damien Cooley said more than 10,000 auctions had gone through the platform since its inception.

Online Auctions connect people no matter where they are. Just last month we sold a property in Bellevue Hill through AuctionNow where the owner was in lockdown in Germany, the successful bidder was in Surry Hills and our auctioneer was in Double Bay,” Damien said.

“We had 172 auctions on the platform last weekend. A unit in Potts Point had 15 active bidders, 103 bids and over 140 people watching. This shows the broad reach of an online auction – we wouldn’t have seen anywhere near 140 people watching this auction if it was in-person.”  

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Samantha McLean

Samantha McLean is the Co-Founder and Managing Editor of Elite Agent and Host of the Elevate Podcast.