Now more than ever, agents and vendors are embracing technology to enhance the auction experience at both live and virtual auctions. 

"This technology has proven to be a critical part of our ability to successfully conduct Auctions during periods of restriction or lockdown." Place Chief Auctioneer, Peter Burgin told WILLIAMS MEDIA.

To ensure compliance with Government restrictions and avoid the possibility of unmanagable numbers in a small space Place are choosing online auctions as its preferred method to keep the public safe in a COVID world. 

On Saturday, Place will be streaming its Super Saturday event via two live auctions running in two different rooms from their head office on James Street. 

It will be a marathon 12 hour event for Place Chief Auctioneer Peter Burgin and Managing Director Paul Curtain - 24 auctions scheduled from 8am to 8pm with properties from Chelmer to Manly West and Holland Park to Norman Park on offer.

a_6e71-098f-46fe-d525-8ac2-8ced-79d3-6e57_20210712045142.jpg

WILLIAMS MEDIA spoke to Peter about Super Saturday and how live online auctions are evolving in the marketplace.

How have live online auctions changed auctioneering?

Nothing will replace the excitement and atmosphere of an on-site auction, but there are definite advantages for both buyers and sellers. Buyers find it less stressful as they can focus on bidding without any distraction from the surrounding crowd. While sellers find it less stressful because it removes the 'event' from their home, making it a much more personalised experience. They can concentrate on the actual auction without well-meaning neighbours and 'property tourists'.

While we don't have to race between the properties, our workload has not changed because the preparation remains the same with the addition of following up bidders to make sure they have registrations to bid and are compliant prior to the auction day.

web-24-_d56a-fbc6-d405-99ab-18d7-7d77-1947-45c7_20210714110104.jpg

What do you like about Gavl?

I love the fact that it is a purpose-built auction site and is very easy for auctioneers, agents and purchasers to use. It is very visual, with auctions in real time, so the experience is identical to an on-site auction. As they watch, buyers can get a sense of the market as bids come in, so there is full transperancy, very different to the absentee telephone bidding of old.

Will it be something you will continue post Covid? 

We have been using Gavl to live stream auctions for a long time to bring a wider audience to the auction, and give absentee buyers and sellers better connection with the transaction. The big change is the bidding function on the Gavl app to giving buyers the freedon to actively participate in the auction from the comfort of their own home.

On Site Auctions will never be fully replaced as the preferred method for most agents and sellers but it is comforting to know that we have a really credible alternative for those who have a preference.

At Place we have a full service auction company offering our clients options to give the best outcome on their property. We have not had any evidence that online auctions with Gavl have had any negative impact on the outcome, in actual fact the results have been amazing, and exceeded our expectations.

Gavl was not designed to replace a live on-site auction, but it has given vendors an opportunity to go to the market with a very visual real-time experience in a Covid world. 

premium44190990_4834-cbea-2a46-a181-b10a-1257-dc2d-9d68_20210802091335.jpg

Do you see more interstate and international buyers in live online auctions?

We definitely see greater numbers from overseas and interstate watching our on-line auctions and have had a lot of interstate buyers purchasing properties, often without a single inspection. They say that watching the real time online auction gives them a real sense of the market and makes them confident to bid.

What advice would you give prospective purchasers for successful online bidding?

Much the same as advice for an on-site auction. Don't hang back, be involved, get in there, show the competition you're serious. A low start or small bids often attract more competition and more bids. Be organised, pre-register to bid and get all paperwork organised a couple of days prior to the auction. 

Communicate with the agent in advance of the auction. The agent can help you secure the property.

The market is on fire, attracting huge interest with 100-500 people in attendance at on-site auctions so to keep people safe and cater for the demand we have moved our Super Saturday event online.

One person per 4sqm is not doable at an on-site auction, and we have an obligation to do the right thing by the community.

Such is the interest in Brisbane Real Estate, we have already seen 7 of these homes selling prior to auction with another 2 under contract.

 

Related reading:

Clearance rates continue to strengthen across Brisbane - Place

Online auction platforms experience unprecedented growth