We love Zoom Auctions. So much so that we will keep doing them for many properties.
I’ve called sixteen Zoom auctions since private inspections resumed and fifteen of them sold under the hammer with strong competition and lively bidding.
The results are exactly the same as in-person Auctions. I haven’t come across one single buyer who was deterred from bidding or bid less enthusiastically due to the virtual format.
If anything, buyers seem to be more comfortable and less nervous online.
The feedback from both buyers and sellers has been overwhelmingly positive.
We have seen anywhere from 10 to 70+ attendees log in to observe or participate in our Zoom Auctions. And while you don’t quite get the same atmosphere or pomp of an on-street auction, they are just as effective, and certainly more efficient.
Buyers, agents, advocates, neighbours and most vendors seem to really like the flexibility of being able to log in remotely for 10 – 15 minutes and experience an entire auction from the comfort of their living room, car, office, hospital waiting room, walking along the beach… we’ve seen it all!
As an agent/auctioneer, you can easily call five or six Zoom Auctions in a single day, for properties spread all over Stonnington, without having to leave the office. Logistically this is nearly impossible in-person with the driving, parking and opening properties for half an hour before the Auction.
Having said all of that, it’s nice to have the option to call in-person auctions again from Friday, where appropriate.
Good quality period homes on nice streets lend themselves to live Auctions. The atmosphere is better, especially on a nice day and with a big crowd. It’s easier for the neighbours to have a sticky beak than chasing up a Zoom link.
I’m also looking forward to hearing a proper round of applause when I knock down my next property in person, rather than awkwardly clapping by myself in front of a computer screen, as I’ve become accustomed to.
It will be very interesting to see if Zoom Auctions continue to have a place in our real estate arsenal in the years to come. We certainly hope so.
As you can see below the number of new listings is starting to slow compared to the record number we saw coming to market in previous weeks.
We are running out of time to list and sell property in 2021 and are already booking in Auctions for February. Good luck to those buyers and sellers transacting in the coming weeks and please let us know if we can assist.
Feature Property: 69 Osborne Street, South Yarra
David Sciola 