Real estate agents were issued with the ultimate challenge this week when the Prime Minister announced there would no longer be any on-site auctions or open houses.

Many companies issued their own media releases outlining their strategies and what they would do next, the common theme being that the real estate industry was not shutting down.

In fact for some agents, the opposite was true, as they had already started having success with online auctions.

Companies that sell platforms for online auctions have found their time in the sun too.

SoldOnline

SoldOnline has a decade of experience operating software and technology, developed off the back of extensive, award-winning real estate and auction experience.

After the announcement Sold Online received over 1000 per cent increase in enquiries, leading to potential auctions to be listed online.

The first post-announcement auction is booked for this Saturday.

SoldOnline is also looking at technology and legal compliance to sign contracts digitally, making it even safer for the industry.

SoldOnline is now working with two major commercial agencies and 35 individual agencies to switch to online auctions.

You can visit them here. 

Openn Negotiations

Openn Negotiations is a well established online property auction site and has been selling property since its inception in mid-2017.

Openn Negotiation is Australia's only fully automated transparent online real estate bidding platform. 

Openn is not a streaming service broadcasting a traditional street auction.

The service is delivered via an App so there is no physical meeting at an auction gathering.  

All legal documents are completely automated on the App and there is no need for an agent to meet personally with a buyer or seller.

Openn Negotiation's Chief Executive Officer, Peter Gibbons, said there has been a significant increase in enquiries from agents looking to get trained in the platform and the company is well placed to manage the influx.

"Over the past three years we have made a significant investment in the Openn Platform to make sure it is a seamless and transparent way for buyers and sellers to interact," said Mr Gibbons.

"We've seen a 350 per cent increase in registrations for our online learning in March. We expect that to continue to grow."

"Currently we have agents registered from all the major networks in Australia including Ray White, McGrath, LJ Hooker and Elders etc. as well as hundreds of local agencies."

You can visit Openn Negotiation here.

AuctionNow

AuctionNow is an online auction platform that merged in February 2020 with Realtair that provides end-to-end technology solutions for the real estate transaction process. 

It is a digital platform that reduces costs and enhances sales outcomes.

You can visit AuctionNow here

Gavl

Another online auction site is Gavl which has been working around the clock since the Covid-19 announcement to keep up with enquiries and requests across Australia.

Digital auctions, private treaty digital offers, digitally signed contracts and new livestreaming of open house inspections are on offer through Gavl.

Agents can receive questions in real-time from viewers watching live and will have full visibility on who has attended digitally to conduct follow up calls and arrange private inspections.

Livestreamed inspections will be available from Monday.

You can visit their website here.

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Ray White Sherwood | Graceville principal Cameron Crouch with Chief Auctioneer Mitch Peereboom last night at one of the state’s first digital auctions. Photo: Ray White

One agent that has grasped the concept of online auctions successfully is Ray White Sherwood and Graceville who held their first “virtual” auction this week with great success, selling almost $4 million under the hammer.

Principal Cameron Crouch said his team were ready for the new world of digital auctions and private inspections and last night sold 80 per cent of the order of sale.

“We have set up our virtual auction theatre on our new rooftop auction space as it's central for our auctioneer Mitch Peereboom," said Mr Crouch.

"Last night we sold four from five and we have some 28 auctions on the board to be auctioned in coming weeks.

“We are an auction office as we believe it’s the only way to sell a property and we hold auctions every Wednesday and we can keep doing that in a virtual way.

"We had 13 registered bidders last night.

“The first lot was a cracker at  210 Long St East, Graceville which sold for $855,000.

:It went so crazy with a tonne of bids flying in. The elderly vendor was a bit nervous but still comfortable in the process and was committed to selling. 

Mr Crouch said they have technology processes in place to remain ‘business as usual’ in this new environment of private inspections, virtual inspections and weekly auctions. 

Commercial property is also taking off online. Visit here for the story on KFC.

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