- I’ve already explained how SoldOnline is a great tool to have when selling ‘difficult’ or challenging properties – but our success stories run across the board, and include inner-city and suburban homes and many other properties that you’d expect would also do very well in a traditional auction.
- Agents are increasingly opting to go online because of how much easier, simpler, and less stressful the online auction is compared to other methods of sale – and the results speak for themselves.
Hopefully, you enjoyed the story of how a no-reserve online auction helped Moree real estate agent Paul Kelly sell a fire-damaged cinema that had been on the market for years. Paul told me that he’d be thrilled if we just found a buyer for the property at any price, while if we got $10,000 for it, he’d consider it a miracle. Well, we sold it – for $65,000.
As happy as I was for Paul, the truth is, there’s nothing miraculous about how SoldOnline works. It just makes sense to auction property online – and we have success story after success story to prove it.
There’s 141 Percy St, a cute two-bedroom house in the rural NSW town of Wellington – we had three active bidders who fought it out (literally – in total, there were 75 bids) until the hammer fell at $230,500, more than 1.5 times the reserve.
Or I could tell you about a commercial development block in Werrington in Western Sydney that Colliers International trusted us to auction for them – they were hopeful we’d come back with a buyer at $5 million. Instead, we sold it for $8.1 million – $3.1 million over the reserve!
Once agents realise they can attract a much wider pool of bidders for their properties from potentially anywhere in the world, it seems crazy not to go online. Take the 4,000-acre property we sold in Yass. We had eight active bidders in three states fighting over that one before we called it a day at $11.75 million – would we have had the same crowd with a traditional on-site auction? In Yass? I doubt it…
‘Well, okay,’ you might be thinking. ‘Rural properties, a development site – going online for those makes sense. But I’m in a hot residential market and I’ve got no problems attracting the punters to my auctions, so why would I want to take them online?’
The real question is, why not? We auctioned a very trendy terrace house in Sydney’s inner-city Rozelle on our site, and 24 bids later the price had soared from a start of $710,000 to a tidy $1.05 million. Now, it probably would not have been that difficult for us to bring the whole circus to town for an onsite auction in a high-demand suburb like Rozelle, but who wants to manage a circus when you don’t have to? Especially if ‘managing a circus’ sounds like your current job description every Saturday of the year?
Metro and suburban residential agents who come on board with us end up in love with the simplicity of the SoldOnline platform – not to mention all the extra (and stress-free!) time that online auctions free up for them, particularly on Saturdays. If you haven’t already read my article on how to use that valuable time to stand out from your competition and win more listings (and still have time to catch the kids’ sports games or finally not have turn down every invite to social occasions with friends because you’re working), click the link to check it out.
SoldOnline has been tried and tested on all kinds of properties – residential, commercial and rural – and we’ve had consistently great results. Whether you’re selling a car space, a modest ‘shack’ for weekend getaways, a beautiful home in an in-demand area, or a great big block of land ripe for either agricultural use or a major new urban development, we can help you maximise your buyer reach, maximise competition among potential buyers, and maximise your sales price – with a minimum of stress for you, your vendors, and your buyers.