Online Auctions to Shake Up Property Market

New property tech company FinalCall is introducing an online platform that promises to revolutionise the way real estate is bought and sold. Through the platform, Australians can bid and purchase at auction online without going to the location.

Auctions can stress the seller and even the agent. Half of the struggle is ensuring buyers turn up and the rest is about getting the best possible price for the property.

FinalCall provides a solution to the problem.  Its platform lets agents and the seller  entice the widest possible pool of bidders by offering online bidding in real time.

There are various reasons why buyers can miss out on a prime piece of real estate – from inclement weather to bad traffic or a busy schedule. This can be avoided with FinalCall. Buyers can bid on a property they like irrespective of location or time.

A market-tested digital scribing tool for agents and bidders launched by FinalCall enables online bidders to watch and bid wherever they are in the world, in real time for an auction. A market first, FinalCall can also minimise post-auction paperwork because you can pay for the deposit and contracts electronically.

All other industries that utilise auctions in Australia and beyond are already using an established platform that allows online bidding.

The last to adopt this hybrid auction model and method is the real estate industry. It is already being used by businesses that sell stock, cars, horses, and it has brought improved results. The same is expected for real estate.