Will you ever go to a traditional property auction again?

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Will you ever go to a traditional property auction again?

With New Zealand now at level 4 it has stopped the $1.7billion dollar residential property industry in its tracks, or has it?

There are currently 30,781 houses for sale on Trademe but no open homes available and the removal of selling by auction occurring quickly. The auction market for most large real estate agencies in New Zealand is the life blood of their operations but this has all vanished overnight. Leaving auctioneers, auction sales agents, and their teams essentially locked out and closed for business.

In Australia, state by state they are closing their doors and open homes are not allowed. Only yesterday they banned over 3,203 properties for sale by auction.

In the UK the large real estate agency Purplebricks has made a subtle but important pivotal change switching from a 'Hybrid' to a 'Complete Online' real estate model in an answer to Covid-19 issues.

Here we’re are seeing great examples of #8 fencing wire ingenuity with agents conducting auctions on Zoom. But if the connection fails and instructions are misunderstood, it can lead to some, pretty unhappy, buyers & sellers.

Who knows how long the lockdown will linger around for and even if the government does drop from Level 4 back to Level 2, will you ever set foot with a 100 other bidders in an in-house auction room or a bricks n mortar real estate agency again?

This event will change the real estate game for good.

There is an answer in the lockdown.

Step up www.proppy.co.nz. The cavalry has not only just arrived, but it has been flourishing over the last 4 years. New Zealand’s only fully online agency real estate agency has now become the player that people want and need in our new world. Its recent un-audited 31st of March financial results show an impressive 1478% increase in year on year profit.

They are well positioned in New Zealand as a member of REINZ and operate under the regulating body the REA.

Proppy.co.nz has been running since 2015 and are well equipped to be a leader in online real estate with their secure and robust platform in NZ.

The ability to list your property on the platform and run online auctions, online negotiations and online tenders is easy on Proppy.co.nz. They now have listed approximately $200 million in properties up and down New Zealand.

The team is well set up with 30 local Proppy experts throughout the country to help and assist you with the sale. We’ve auctioned 9% of houses online, the other 91% have been by way of online negotiation, but we’re expecting the online auction part of the business to grow upwards of 40% this year.

We offer free online auctions to vendors as part of our listing package.

"We have had extremely good results with the last online auction in New Windsor, Auckland being sold with multiple bidders and achieving $71,000 above the reserve price and 11% above CV."

“It’s a really tough time for Kiwis; vendors & buyers are feeling it. But in times of price uncertainty, consumers need to ensure they’re paying a fair market price so online auctions and online negotiations work. We want to enable Kiwis to ensure they can buy the homes they want in a safe way"

says Hannah Walker (Co Founder and Sales & Marketing Manager for www.proppy.co.nz)

“Why would anyone in their right mind visit or attend an auction room in the next 12-18 months” says Walker.

“Wouldn’t you rather bid, negotiate from the comfort and safety of your own home with your friends and family around you to support you through the process?".

"We know we are on a winner here with a spike in people wanting to work for us with 5 times more enquires over the previous month” says Walker.

"My advice right now is if you want to sell your home in this lock down or even after lockdown you should sell it over the internet”.

Beware of agents saying they are online when they are not. Find out how much your house is worth. Proppy have come up with a nifty 10 second process. Free Appraisal

Get in touch today!