Online auctions... the future?

We’re convinced… they're the future!
09-12-2020 |

 After doing my fair share of research and scoping, I gave into the world of online auctions… and I’ not looking back, after our first experience was more than successful! 

56 Daglish Street, Wembley sold just nine short days into our Openn Negotiation campaign for $100,000 above the reserve at $1.3 million.  

With 109 groups coming to view the home, the campaign attracted an impressive 10 qualified bidders and 21 bids in total, with almost 30 people also tuning into to ‘observe’ all the action.

Better still? The gorgeous character home was also the most viewed on realestate.com.au in the first week of its launch. Coincidence? We think not! The campaign created a serious buzz, something traditional auctions have been famous for doing for years!

So… how does an online auction process work for the seller?

Well, it’s very similar to a real life auction in terms of the process.

Open Negotiation is an online platform and app that allows qualified buyers to openly negotiate on price with the advantage of knowing exactly how many real, competing buyers there are – just like they would if they were standing there on auction day. The difference is, the bidding starts as soon as the campaign does.

This means, sellers are able to see what real buyers are bidding for their property in real time. It gives sellers a confidence in the sale value of their property and it reaching the maximum market value possible!