The success of a massive e-commerce sale has inspired an emerging real estate business to host Australia’s first online auction extravaganza.
Online platform Exchangehouse has drawn inspiration from Click Frenzy and decided to organise a spring online auction campaign involving a collection of properties.
The event is expected to last for about one week in September, with sales staggered throughout the campaign.
Exchangehouse director Mark Jamieson told REB that agents who participate in the campaign will receive exclusive territories.
“If I get the exclusive right to list at this event, I’m going to lock all my competitors out,” Mr Jamieson said.
“So now I can talk to vendors in the spring about not only a different sale method, but also a specific event that you can only access through my office.”
Mr Jamieson said that several Ray White offices in NSW have already signed up for the campaign, which is expected to become a regular event.
Meanwhile, Mr Jamieson said Exchangehouse has had to work hard to win over Sydney agents since the platform launched in 2014.
“It’s been difficult in this market, because the way agents are selling is working for them,” he said.
“But we believe it’s not working for them because they’ve got the best method of sale – it’s working for them because the market is overheated.”
Mr Jamieson said many agents have told him that they regard the rise of online auctions as inevitable, but would prefer to stick with the status quo while it’s working so well.