Login
iscover
A newly launched technology lets Aussie property buyers bid on real estate in real time from the comfort of their homes.
Gavl, launched in 2016, is an app that allows people to watch real estate auctions live and has broadcast over 6,000 auctions since launching.
Now though, Gavl is taking it one step further and has launched live bidding as part of the app that “promises to change the way we purchase property.”
The new technology allows registered buyers to place a live bid during an auction on the app when it suits them.
Ray White Carnegie sold a recent property to an investor via Gavl who was biding while competing in a boat race.
Tom Grieve, Ray White Carnegie agent and auctioneer, said that Gavl was allowing people, who may not be able to make it in person, to bid on the properties they want.
“Our recent buyer who watched and bid on a Malvern apartment while on his boat was very exciting [for] us all. Without Gavl, he wouldn’t have been able to participate in the auction or place the winning bid on the property,” Mr Grieve said.
“For our vendor, it made all the difference. Without the Gavl app, we wouldn’t have sold the property then and there at the auction.”
Mr Grieve added that the ability to live-bid was going to be a massive disruptor to current auctions.
“The introduction of live bidding on a property is a game-changer in real estate auctions, as it enables buyers to secure their properties without having themselves or a representative at the auction,” the agent said.
The live bidding works by having a buyer register to bid in the app, then Gavl contacts the agent to review the buyer.
Once approved by the agent, Gavl unlocks the bidding functionality for that user which lets them communicate bids directly to the auctioneer via the app.
Joel Smith, CEO of Gavl, said that people were busier and auction times often clashed with other commitments so there was a clear need for change.
“In this day and age, it’s so hard for people to be available every Saturday to attend auctions with life commitments. It’s also common for auction times to clash when people are looking at a number of different properties.”
Mr Smith said that Gavl would allow people to participate in multiple auctions a day without even leaving their room.
“With remote live bidding, buyers don’t need to physically attend auctions and can participate as a bidder at multiple auctions on the same day without even leaving home or from the comfort of the pool deck on holiday.”
Newsletter
