The real estate industry has received a new tool to help guide it through a difficult period, with agents being able to promote their vendor’s upcoming online auction and link through to an online auction on a new technology feature.
Starting Monday, realestate.com.au’s new online auction feature will connect people no matter where they are, with the company highlighting that AuctionNow allowed a buyer in Germany to purchase a place in Surry Hills.
REA Group chief sales officer Kul Singh said REA was leaving no stone unturned to ensure agents and property seekers were supported with the relevant features and services to suit today’s rapidly evolving market conditions.
“We’re doing everything we can to support the property industry as we navigate the new ways of working. Auctions have played a part in how we’ve come to transact real estate for many years, so we’re pleased to help deliver this online capability to our customers and their clients to keep that tradition alive,” Mr Singh said.
AuctionNow is a leading online auction provider and has been in operation since 2017. Founder and auctioneer Damien Cooley said more than 10,000 auctions had gone through the platform since its inception.
REA Group general manager core products Tim Bradley said that similar to the launch of Digital Inspections last week, the turnaround time for the Online Auctions feature was pivotal.
“We wanted to minimise any disruption and ensure that buyers and sellers could continue to transact virtually given the new government restrictions announced last week,” Mr Bradley said.
“We’ve had an amazing response to the launch of Digital Inspections, with almost 30,000 active buy listings on realestate.com.au now featuring a virtual tour of properties. Online Auctions is another user-friendly feature to cater for today’s new operating environment.
“Properties going to auction through AuctionNow can feature links from the realestate.com.au listing to the online auction from today. This will help reach multiple online bidders, no matter where they are. The feature will be available to other online auction providers in the coming weeks.”