A new addition to the Melbourne property market - online property auctions

Melbourne represents the second largest population in the country and is also the second highest capital city in terms of real estate pricing, just behind Sydney.

Each weekend, Melbourne pumps with onsite auctions. On Sat 14th March, there were over 1000 residential property auctions held in Melbourne alone.

Although there are a few notable trends in the Melbourne property market, analysts have varying opinions on how the city’s property market will perform in 2020. One thing they can agree on though, is that new technologies and a fresh approach to the market will be welcome.

online property auctions melbourne Click here to view our online auctions in VIC!

David Scholes, founder of SoldOnline created his platform after over 30 years as an award winning auctioneer. During this time he averaged over 1000 auctions per year across the country! Identifying the increasing movements to online real estate purchasing, he designed SoldOnline as an addition to the real estate agent’s suite of tools. The online real estate auction platform includes commercial, rural, industrial and residential online property auctions. It is simple to use, effective and a transparent way to sell real estate.

Making a difference - Online Property Auctions Melbourne

More and more Melbourne real estate agents are adding online property auctions to their suite of offerings to provide a competitive edge. This gives them an incredible point of difference and the ability to widen the market reach for their vendors.

In a relatively crowded industry, finding that edge above other real estate agents is key. The inclusion of online real estate auctions in your offering shows your vendors that you are keeping ahead of the game.

You are providing them with a safe, secure, transparent and effective way to auction properties.

Making moves in Melbourne

So far, SoldOnline has completed many successful online auctions in the residential, commercial and industrial sectors with over 950 listed online property auctions. Vendors are enjoying the increased reach that online property auctions represent. In many cases, SoldOnline properties in the Melbourne market have sold well above reserve and attracted engaged bidders from all across the globe.

Transparent, superbly managed and ideal for the Melbourne market

The benefits of online real estate property auctions are unprecedented. In a market such as Melbourne, where there can be upwards of 800 auctions each weekend, online property auctions can cut through the clutter.

Perhaps the most significant benefit is that bidders can be anywhere in the world. This removes the challenge in getting bidders to onsite auctions or auction rooms.

Add to this, the fact that most onsite auctions take less than 10 minutes and you can see how real estate agents are warming to the idea of embracing online auctions which are conducted over a few days. This extra time ensures that bidders are able to bid in their own time zone and spend time finalising due diligence, deferring to advisors or confirming additional financing should the need arise.

The online auction process is overseen by one of professional auctioneers, such as David. These auctioneers meter the process, can apply different incremental bidding amounts and assist in the negotiation with prospective buyers. In fact, everything that they do during onsite real estate auctions!

An end-to-end managed service for Melbourne auctions

From end to end, the SoldOnline approach is based on ensuring that vendors, agents and bidders are comfortable with and relaxed about the process. Bidders are vetted and registered online and the bidding is transparent and well metered by our SoldOnline auctioneers.

In a market such as Melbourne’s where the onsite auction model is currently thriving, the option to take your property auction online is a savvy way to continue an already increasing online process for property buyers. The opportunity to allow bidders to take part from wherever they are in the world increases vendors’ access to maximum sales prices and produces a smart and efficient face to your agency.