Prior to the Coronavirus pandemic and the ban on public auctions, Barry Plant had been using online streaming auction platforms. With great success.
Originally it was used when either a buyer or seller couldn’t make it to the auction. Sometimes sellers live interstate or a few hours’ drive away and often buyers were working or there would be another auction at the same time or for one reason or another they were unable to physically make it to the auction.
Online auction platforms stream the auction allowing potential buyers to view the auction (or multiple auctions) in real-time with the ability to bid on each one. The software also allows remote buyers and sellers to securely sign any documentation electronically.
“This isn’t a gimmick; we sold properties to buyers who bid online in the past and it is an even more important tool now,” Rocco explains. “Buyers have found the system really easy to use and when the hammer falls on their bid, they are able to securely sign the Contract of Sale online.”
There’s also a process that immediately automates a part-payment of the deposit on behalf of the successful bidder.
Anywhere Auctions works well for sellers too. They can watch the auction being streamed live and then electronically sign all the documentation.
Sellers can choose to add the services of an online auction platform to their marketing campaigns for less than $200.
Online auction capability is just one in a series of revolutionary technology tools that Barry Plant has rolled out to provide a safe, innovative real estate process for all our clients – both during this Coronavirus crisis and into the future.