{"id":30088,"date":"2021-01-15T12:11:32","date_gmt":"2021-01-14T23:11:32","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=30088"},"modified":"2021-01-15T12:11:32","modified_gmt":"2021-01-14T23:11:32","slug":"whats-the-outlook-for-virtual-real-estate-auctions-in-2021","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/whats-the-outlook-for-virtual-real-estate-auctions-in-2021\/","title":{"rendered":"What\u2019s the outlook for virtual real estate auctions in 2021?"},"content":{"rendered":"

PHOTO: Jake Moore, of Cooley Auctions, at the auction of 88 Edith Street, Leichhardt.\u00a0Photo:\u00a0Peter Rae<\/span><\/strong><\/p>\n

Virtual auctions are here to stay for properties that draw interstate or overseas bidders, agents say, after the sudden shift to remote sales in 2020.<\/p>\n

But the online selling method is hoped to take a backseat in 2021 with real estate agents opting to return to on-site auctions wherever possible.<\/p>\n

Agents say the high energy and fast-paced nature of traditional auctions over the slow and sometimes tech-glitched process of online auctions translates to better sales results for vendors.<\/p>\n

Even so, many agents plan to keep using online auctions for the advantages they have over on-site auctions in certain situations. These include a buyer\u2019s ability to join an auction remotely, allowing vendors to cast a wider net over buyers who may be overseas, interstate or those who prefer to bid from the comfort of their home.<\/p>\n

These advantages proved to be a winning formula for remote properties, said Alex Pattaro, chief auctioneer at Ray White New South Wales.<\/p>\n

\u201cOnline auctions are allowing our agents to transact properties easier when they\u2019ve got people who can\u2019t attend auctions, so it makes the transaction a whole lot easier for people who are interstate, on holiday or who have personal commitments, whatever they might be,\u201d he said.<\/p>\n

\u201cWith our rural and its lifestyle properties, it allows everybody across the entire state and even other parts of the country to get involved. For example, I had an auction in December for a property about 30 mins west of Byron Bay and we had 32 registered bidders from all over the country \u2014 central north Queensland, Brisbane, Gold Coast, Sydney and Newcastle.\u201d<\/p>\n

\"Auction
Buyers and sellers adapted to the use of virtual auctions. Photo: Peter Rae<\/strong><\/em><\/figcaption><\/figure>\n

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