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Ray White Moves to Online Auctions

By Tamara Lloyd
Things have changed very rapidly over the past month and the real estate industry is having to embrace technology like never before!  Many of you will know that we have been leading the way locally in the In-room auction space as well as continuing to conduct on site auctions.  With the new physical distancing laws in place obviously auctions in person are on hold for the moment – however this does not mean auctions can no longer take place.  Fortunately we had already started giving buyers the opportunity for online bidding from January this year, so gearing up to only online bidding is not such a stretch for us.
The weekend of 4th April Ray White Corporate will be conducting 19 online auctions for Ray White Victorian offices out of their head office in Melbourne.  It will see buyers, vendors and agents dial in from their homes and the auctioneer to conduct the auction from a purposely set up studio at the Ray
White Corporate office.  Contracts will then be signed and exchanged digitally, and the deposit will be transferred electronically.  The auctions will be filmed by Channel 10 and will become one of the positive stories to come from these challenging times.
Everyone needs to get creative and utilise technology like never before.  People still need to buy and sell homes and the government is still allowing us to conduct private inspections.   If laws change further and we are unable to conduct private inspections we are already up and running with videos and/or 3D images on all our properties.
Our first full online auction will be conducted on 22nd April at 5pm for a lovely family home located at 3 Patterdale Court Croydon Hills.  The vendors are quite excited about the whole process and one of our big roles will be to educate buyers about the new online process which really is no different in principle to an onsite auction – but they can bid in the comfort of their own home. One of the biggest benefits of an auction is the unconditional nature of it – which in these challenging times is really an important benefit.  If you would like further information about this or any other real estate topic please feel free to contact myself or one of our experienced agents.
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