{"id":38461,"date":"2022-05-08T14:10:50","date_gmt":"2022-05-08T02:10:50","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=38461"},"modified":"2022-05-08T14:10:50","modified_gmt":"2022-05-08T02:10:50","slug":"new-ebay-style-online-property-auctions-offer-transparency","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/new-ebay-style-online-property-auctions-offer-transparency\/","title":{"rendered":"New eBay-style online property auctions offer transparency"},"content":{"rendered":"<p><strong>PHOTO: Wollongong couple Tyler Hoggard and Jess Farrell have recently bought their house at an onsite auction.<cite class=\"_1EAJU _1ftZy _2L258 _14LIk _3pVeq hmFfs _2F43D\" data-component=\"Figure__cite\">(<span class=\"_1EAJU _1s6pr _2L258 _1BqKa _3pVeq hmFfs _2F43D\" data-component=\"Byline\"><span class=\"_1EAJU _2L258 _14LIk _3pVeq hmFfs _2F43D\" data-component=\"Text\">Supplied<\/span><\/span>)<\/cite><\/strong><\/p>\n<p class=\"_1HzXw\">When Tyler Hoggard and Jess Farrell recently bought their first house in Wollongong, the auction took place in the kitchen of the\u00a0Mount Pleasant home that is now theirs.<\/p>\n<div class=\"_3qLh5 _sBMB _1ilWc\">\n<section class=\"_3xJds _3tgJi\" role=\"contentinfo\" aria-label=\"key points\" data-component=\"KeyPoints\" data-uri=\"coremedia:\/\/teaser\/101043490\">\n<h2 class=\"_1EAJU hMmqO _316gH _1zBDU _1BqKa _2AH39 _3HiTE x9R1x pDrMR hmFfs _390V1\" data-component=\"Heading\">Key points:<\/h2>\n<ul class=\"qkR3W\" role=\"list\" data-component=\"List\">\n<li class=\"\" data-component=\"ListItem\">Timed property auctions see people register and bid\u00a0on houses over a set period of time<\/li>\n<li class=\"\" data-component=\"ListItem\">Real estate agent Neil Webster says it gives a greater level of transparency to the buying process as people can see bids are legitimate<\/li>\n<li class=\"\" data-component=\"ListItem\">By conducting the auction remotely, buyers may not form such a strong emotional connection to a property<\/li>\n<\/ul>\n<\/section>\n<div id=\"article-key-points-after\">\n<div class=\"entry-featured-img-wrap\"><a class=\"entry-featured-img-link\" href=\"https:\/\/propertynoise.co.nz\/au\/sexy-real-estate-agents-fun-instagram-page-sexy-agents\/\"><img fetchpriority=\"high\" decoding=\"async\" class=\"attachment-hoot-medium-thumb  entry-content-featured-img entry-grid-featured-img wp-post-image ls-is-cached lazyloaded\" src=\"https:\/\/propertynoise.co.nz\/au\/wp-content\/uploads\/2022\/02\/T-Shirt-Design-460x270.jpg\" alt=\"SEXY AGENTS\" width=\"460\" height=\"270\" data-src=\"https:\/\/propertynoise.co.nz\/au\/wp-content\/uploads\/2022\/02\/T-Shirt-Design-460x270.jpg\" \/><\/a><\/div>\n<div class=\"entry-grid-content\">\n<header class=\"entry-header\">\n<h2 class=\"entry-title\"><a href=\"https:\/\/propertynoise.co.nz\/au\/sexy-real-estate-agents-fun-instagram-page-sexy-agents\/\" rel=\"bookmark\">Sexy real estate agents \u2013 FUN Instagram Page | sexy.agents<\/a><\/h2>\n<\/header>\n<\/div>\n<\/div>\n<\/div>\n<p class=\"_1HzXw\">They had walked around the place, loved it and already pictured what life would look like living there.<\/p>\n<p class=\"_1HzXw\">&#8220;It [being there] definitely made an impact on the emotional connection, as it&#8217;s always hard to properly gauge the quality of a home from photos and videos,&#8221; Mr Hoggard said.<\/p>\n<p class=\"_1HzXw\">It is this emotional connection real estate agents bank\u00a0on at auctions, but technology could end up nullifying the effect as more bidders are raising their hands from their home or office.<\/p>\n<div class=\"entry-featured-img-wrap\"><a class=\"entry-featured-img-link\" href=\"https:\/\/propertynoise.co.nz\/au\/profile-your-business-for-12-months-in-2019\/\"><img decoding=\"async\" class=\"attachment-hoot-medium-thumb  entry-content-featured-img entry-grid-featured-img wp-post-image ls-is-cached lazyloaded\" src=\"https:\/\/propertynoise.co.nz\/au\/wp-content\/uploads\/2021\/09\/Yvonne-Bradley-460x270.jpg\" alt=\"\" width=\"460\" height=\"270\" data-src=\"https:\/\/propertynoise.co.nz\/au\/wp-content\/uploads\/2021\/09\/Yvonne-Bradley-460x270.jpg\" \/><\/a><\/div>\n<div class=\"entry-grid-content\">\n<header class=\"entry-header\">\n<h2 class=\"entry-title\"><a href=\"https:\/\/propertynoise.co.nz\/au\/profile-your-business-for-12-months-in-2019\/\" rel=\"bookmark\">Profile your business (for 12 months) \u2013 ONLY $499 INCL GST<\/a><\/h2>\n<\/header>\n<\/div>\n<p class=\"_1HzXw\">Timed online auctions are like buying a house on eBay, away from the theatre and pressure of a live onsite auction.<\/p>\n<p class=\"_1HzXw\">&#8220;I think that bidding online would have made for an entirely different experience and it would be much easier to let it go when the bidding had already gone further than we intended,&#8221; Mr Hoggard said.<\/p>\n<aside class=\"_3qLh5 _sBMB _3fob9\" data-component=\"Pullquote\">\n<blockquote class=\"_1BTTn\">\n<p class=\"_1HzXw\">&#8220;While we went into the auction with a strategy in mind, most of it went out the window after the first few bids.<\/p>\n<\/blockquote>\n<\/aside>\n<p class=\"_1HzXw\">&#8220;There&#8217;s a strong sense of urgency that comes with being present in the room.&#8221;<\/p>\n<figure class=\"_247xw _3qLh5 _sBMB _3pBTa\" role=\"group\" data-print=\"inline-media\" aria-labelledby=\"101041906\" data-component=\"Figure\" data-uri=\"coremedia:\/\/imageproxy\/101041906\">\n<div class=\"_3poXF\" data-component=\"IntersectionObserver\">\n<div class=\"_1Axyg\" data-component=\"AspectRatioContainer\"><img decoding=\"async\" class=\"jMqWO _1PHKk\" src=\"https:\/\/live-production.wcms.abc-cdn.net.au\/de162ca9554103e95c4e36958baca5c5?impolicy=wcms_crop_resize&amp;cropH=1067&amp;cropW=1600&amp;xPos=0&amp;yPos=0&amp;width=862&amp;height=575\" sizes=\"100vw\" alt=\"Neil stands with a blue blazer and dark shirt out the front of his office, with a label saying Stone.\" data-component=\"Image\" \/><\/div>\n<\/div><figcaption id=\"101041906\" class=\"_1EAJU _2_dbS _2L258 _14LIk _3pVeq hmFfs _2F43D\" data-component=\"Figure__figcaption\"><em><strong>Wollongong real estate agent Neil Webstersays online timed auctions can give buyers more time to consider their options.<cite class=\"_1EAJU _1ftZy _2L258 _14LIk _3pVeq hmFfs _2F43D\" data-component=\"Figure__cite\">(<span class=\"_1EAJU _1s6pr _2L258 _1BqKa _3pVeq hmFfs _2F43D\" data-component=\"Byline\"><span class=\"_1EAJU _2L258 _14LIk _3pVeq hmFfs _2F43D\" data-component=\"Text\">ABC Illawarra: Justin Huntsdale<\/span><\/span>)<\/cite><\/strong><\/em><\/figcaption><\/figure>\n<h2 class=\"_1EAJU hMmqO SYcM3 zwVFG _1BqKa _3AExf _3HiTE x9R1x pDrMR hmFfs _390V1\" data-component=\"Heading\">Online auctions offer greater transparency<\/h2>\n<p class=\"_1HzXw\">Wollongong real estate agent Neil Webster recently sold a house in Shellharbour using a timed online auction.<\/p>\n<p class=\"_1HzXw\">He said while the technology might not be best for every property, it offered\u00a0a level of transparency that added credibility to his industry.<\/p>\n<aside class=\"_3qLh5 _sBMB _3fob9\" data-component=\"Pullquote\">\n<blockquote class=\"_1BTTn\">\n<p class=\"_1HzXw\"><strong>&#8220;There&#8217;s a perception that real estate agents aren&#8217;t the most trustworthy of people, it&#8217;s a hark back to the bygone era when agents would do some dubious practices at times,&#8221; he said.<\/strong><\/p>\n<\/blockquote>\n<\/aside>\n<p class=\"_1HzXw\">&#8220;By using these platforms, we can operate in a more transparent way because people register, they&#8217;re bidding and it&#8217;s like eBay.<\/p>\n<p class=\"_1HzXw\">&#8220;You get notified every time an offer is made and you know someone is genuinely out there bidding against you.&#8221;<\/p>\n<p class=\"_1HzXw\">He said the online auction gave buyers more time to consider their options than an onsite auction.<\/p>\n<p class=\"_1HzXw\">If a higher bid comes in just before the auction closes, another five minutes is added to the auction each time the highest bid is exceeded.<\/p>\n<p class=\"_1HzXw\">&#8220;Sometimes the auction can go past the defined time because we have people throwing in that little bit more,&#8221; Mr Webster said.<\/p>\n<p class=\"_1HzXw\">&#8220;That&#8217;s what you&#8217;d be doing at an auction with the auctioneer saying, &#8216;First call&#8217;, &#8216;Second call&#8217;, then I can talk to the buyers.<\/p>\n<p class=\"_1HzXw\">&#8220;And online, it&#8217;s the same process \u2014 I&#8217;m calling the underbidder to see if they have more in the tank and if they&#8217;ll put another offer in.&#8221;<\/p>\n<p>READ MORE VIA <a href=\"https:\/\/www.abc.net.au\/news\/2022-05-07\/ebay-real-estate-auctions-online-sales-property-prices\/101041900\">ABC<\/a><\/p>\n<h3 class=\"widget-title\"><span class=\"accent-typo\">MOST POPULAR IN NEW 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href=\"https:\/\/propertynoise.co.nz\/au\/new-ebay-style-online-property-auctions-offer-transparency\/\">Read More &rarr;<\/a><\/span><\/p>\n","protected":false},"author":1,"featured_media":38462,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[461747081],"tags":[478098512,478098521,478098535,478121206,478121204,478109163,478121203,478098513,478103996,478098579,478098510,478098514,478098511,478098705,478098533,478098766,478098921,478098509,478121205,478115433],"class_list":["entry","author-data123nz","post-38461","post","type-post","status-publish","format-standard","has-post-thumbnail","category-australian-property-real-estate-news","tag-australia","tag-australians","tag-house-prices","tag-jess-farrell","tag-neil-webstersays","tag-online-auctions","tag-online-property-auctions","tag-property","tag-property-auctions","tag-property-market","tag-property-news","tag-propertynoise","tag-real-estate","tag-real-estate-agency","tag-real-estate-agent","tag-real-estate-auctions","tag-real-estate-franchise","tag-real-estate-news","tag-tyler-hoggard","tag-wollongong-real-estate-agent"],"yoast_head":"<!-- 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