The digital world has moved into the auction room with Ray White Commercial (Ipswich CBD) launching live online auctions from next week.
Ray White Commercial (Ipswich CBD) principal Warren Ramsey said the group could now literally take your property to the world with the first live online auction on Friday.
“We’ve always been able to have a phone bidder but it is very daunting, not knowing whether you are the only one, you can’t see what’s going on, you’re relying on a person on the other end of the phone that you’ve hardly met,” he said.
“If you’re interested in a property and you want to have a bid, we’re trying to make it as easy as possible. You can turn up in person, you can phone bid, you can have somebody bid on your behalf or you can be online watching from your lounge room in England and if necessary having the agent on the phone as well.
“You can be watching online, getting your agent to transfer your bids or you can be talking to the agent but bidding online or not talking to the agent at all.”
With the Ripley Valley one of the fastest developing areas in the country, interest in Ipswich’s property market is widespread.
“We don’t have the same hit rate under the hammer as they do in Brisbane, Sydney and Melbourne purely because we don’t have the volume of buyers on every property,” Mr Ramsay said.
“But generally the auctions have been going quite well. It’s marginally better than 50% under the hammer but if you take the first week after the auction into account we’re up around 70 or 80% clearance. It generates the interest and sometimes we close the gate at the auction, sometimes it’s shortly thereafter.
“The real benefit with live online auctions is the interstate or absentee owners can sit there and they’re watching the bidding. Wherever it pauses or stops we give them a call and they know where it’s up to, whether it has been pumping or hard work.”
“Auctions aren’t for every vendor or every purchaser, but this absolutely opens the gate for our investment side and the more expensive end of the market where we might have interstate or overseas interest.”