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Are Online Auctions Here To Stay?
Online auctions and transactions have been around for a few years now. Due to lockdowns and Covid, like many things the way we live our lives has changed and online auctions have become more prominent. But are they are good thing and are they here to stay?

Having now attended and analysed online auctions here are some very important things to consider.

5 Things Anyone Selling Via An Online Auction Needs To Know

  1. Property is all about supply and demand, if you wait to the end of lockdowns end to sell there may be more competition. Be strategic but not scared of an online sale.

  2. A good agent should know their buyers so your result can be more predictable

  3. Online auctions gives more access to family and friends to attend, more support and a way to build a crowd.

  4. You don’t have to set a date upfront, you can wait for multiple buyers to be ready to make offers and then pull the trigger.

  5. Selling online can be done in a variety of ways, it does not have to be a traditional auction, it can last days. MarketBuy is a pioneer in this space and accommodates many ways to sell online. 

5 Things to consider when bidding online

  1. Your privacy, remove your last name from Zoom. You don’t want your competition to be googling you.

  2. You can have a professional bid on your behalf who otherwise couldn’t have been there. 

  3. Be prepared, have the paperwork ready and make sure you have all the links and log on early to test your connection and battery on your device.

  4. Control the bidding, online auctions can go for a long time, the agent can’t pressure you so much and you don’t have the eyes of the crowd on you.

  5. You can see the competition a lot easier, how many bidders are there? Work out who is who, unlike a live auction the neighbours won't be there. 
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