House auction during lockdown?

Discussion in 'The Buying & Selling Process' started by tonyvooz, 22nd Mar, 2020.

Join Australia's most dynamic and respected property investment community
  1. tonyvooz

    tonyvooz Active Member

    Joined:
    20th Mar, 2017
    Posts:
    41
    Location:
    Victoria
    How do you reckon auctions are gonna be conducted during lockdown? Online, over the phone, switch to private sale or cancel it all together? RE agents can be very creative so what will they come up with?
     
  2. Scott No Mates

    Scott No Mates Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    17,397
    Location:
    Sydney or NSW or Australia
    • Dutch auction?
    • Silent auction via email bidding?
     
  3. The Y-man

    The Y-man Moderator Staff Member

    Joined:
    18th Jun, 2015
    Posts:
    6,579
    Location:
    Melbourne
    Online with zoom or some other web conf platform - damned if I know how they verify the "blow in" bidder!!

    The Y-man
     
  4. Lacrim

    Lacrim Well-Known Member

    Joined:
    25th Jul, 2015
    Posts:
    2,804
    Location:
    Australia
    It really depends how long this lockdown will last...or how long we can afford it to last. If the potential treatments are deemed effective for the majority of cases (and we'll know in a few weeks), things will go from downright negative to reasonably upbeat overnight.
     
  5. The Y-man

    The Y-man Moderator Staff Member

    Joined:
    18th Jun, 2015
    Posts:
    6,579
    Location:
    Melbourne
    Maybe we just sell houses on Ebay or Gumtree.....

    The Y-man
     
  6. tonyvooz

    tonyvooz Active Member

    Joined:
    20th Mar, 2017
    Posts:
    41
    Location:
    Victoria
    Agents have to vet all potential buyers beforehand and only give out meeting code to those who qualify. But yes, there will be lots of work and will put off many buyers
     
  7. TMNT

    TMNT Well-Known Member

    Joined:
    23rd Jul, 2015
    Posts:
    5,135
    Location:
    Melbourne
    isnt real estate agents, not part of essential business, so closed?
     
  8. tonyvooz

    tonyvooz Active Member

    Joined:
    20th Mar, 2017
    Posts:
    41
    Location:
    Victoria
    It's not part of essential service, but also not included in non-essential services list according to this announcement:

    Statement from the Premier - Coronavirus response
     
  9. FredBear

    FredBear Well-Known Member

    Joined:
    7th Aug, 2018
    Posts:
    203
    Location:
    Sydney & Abroad
    Soon listing my PPOR for sale in Sydney, and today:

    Agent A called and informed that his agency (part of well know chain) have made the decision to cancel all on-site meetings so I would have to come to their office to meet from now on.

    Agent B called 1/2 hour later (also part of another well know chain) called and invited to view several open for inspections nearby this week.

    So what is open, what is closed in the real estate business?
     
  10. tonyvooz

    tonyvooz Active Member

    Joined:
    20th Mar, 2017
    Posts:
    41
    Location:
    Victoria
    An agent just called to invite me to auction of a property that I inspected few weeks ago. He said that auction is still going ahead and if I wasn't comfortable being there in person I can bid through GAVL app, which requires ID verification before bidding
     

    Attached Files:

  11. tonyvooz

    tonyvooz Active Member

    Joined:
    20th Mar, 2017
    Posts:
    41
    Location:
    Victoria
  12. tonyvooz

    tonyvooz Active Member

    Joined:
    20th Mar, 2017
    Posts:
    41
    Location:
    Victoria

    Attached Files:

  13. FredBear

    FredBear Well-Known Member

    Joined:
    7th Aug, 2018
    Posts:
    203
    Location:
    Sydney & Abroad
    Did anyone have any success viewing an on-line auction over the weekend? I tried to watch on www.openn.com.au, www.gavl.com and others just to see what it was like but experienced lots of tech gliches. I wouldn't trust bidding this way. NBN coming in my street in a couple of months, that might improve things.
     
  14. tonyvooz

    tonyvooz Active Member

    Joined:
    20th Mar, 2017
    Posts:
    41
    Location:
    Victoria
    i watched 3 live auctions on GAVL app and found it to be good and smooth, no issue so far