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VIC: Melbourne’s auction market has gone digital amid the COVID-19 pandemic

2Mo ago 0 Replies 45 Views
1464 Melbourne auctions scheduled this week went ahead digitally.

But Anywhere Auctions managing director Garry Giritharan expected bigger volumes of online-only auctions over the coming weeks.

Anybody can watch live auctions via the Anywhere Auctions website and app by entering their name, email address and phone number to make a profile.

On auction day, the participant watches a live stream of the auctioneer and types their offers in full dollar amounts (eg. $750,000) into the “place your bid” box. The auctioneer calls out the bid if it is accepted as the highest offer at the time.

When the hammer comes down, the selling agent calls the winning bidder to instruct them on how to digitally sign the contract of sale.

Get more details here:

https://www.realestate.com.au/news/coronavirus-real-estate-how-to-bid-at-a-digital-auction/?page=rea:news:post&element=traffic_driver_1|slot_1
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