Your Australian Property Online Property Auction Buying Service has experience buying via all online property auction platforms. In particular, we’ve found the Zoom online property auction bidding platform protects your privacy, is secure, very reliable and user friendly.
Online auctions, held via Zoom, work exactly the same way as the public auctions you’re used to seeing or attending, except from the comfort of your own home or space. Are you interested in discovering more about this online process? Take a read of our FAQs below.
At Your Australian Property we are pleased to have adapted our services to continue to support each and every client to achieve their property goals. We have been able to buy properties for our clients, during this ever-changing climate, in a safe digital environment, ensuring that our Buyer’s Agent and Auction Services continue as usual.
Here are most of the FAQs: How do I remain 100% anonymous online at an online property auction? By engaging our highly successful and proven Online Property Auction Bidding Service, you will remain 100% anonymous when being represented by Your Australian Property. We register on your behalf without disclosing your contact details which means you’re a lot exposed. Additionally, by using our services (rather than doing it yourself) Your Australian Property are doing you a huge favour by protecting your anonymity from the selling agent. For instance, let’s say you did the online bidding for yourself but unfortunately you lost. Well, the ramifications are that it will completely destroy and comprise any future negotiations you may have with that same selling agent, as they already know what your maximum purchase price limit is! Is it really worth taking a risk when it’s your money at stake?
How do I join an online auction? An Auction Registration Bidding Form is sent to prospective buyers prior to the auction with an invitation to follow the auction via a Zoom link included. Participants are then invited to join the online auction via this Zoom link 10-15 minutes ahead of the proposed start time to resolve any technical difficulties which may arise. If you cannot reconnect via the Zoom link provided to you via email, you must contact the listing agent as soon as possible for further instructions. All participants are placed “on mute” until the auction starts however agents invite prospective buyers to turn their cameras on.
How do I “Mute/Unmute”, Start/Stop Video” and change my screen name? Tap on the screen of your device or click your mouse to reveal a menu of buttons which you will be able to operate to perform these functions. The “Rename” function is accessed by clicking the “Participants” icon and then clicking on your current name in the list of participants, then choosing “Rename”.
Should I change my screen name? Agents encourage the use of your full name as it is vital that the agents know your identity if you are intending to bid. If you intend to change your name at least let the auctioneer know your alias so they know who you are. The auctioneer announces the bidder’s names along with the bids for transparency.
Will the auction be conducted differently to a normal public auction? Due to legal reasons, the answer is “No”. They are the same as those for a normal public auction.
How does an online auction begin? The auctioneer will begin by explaining the format of the online auction and will run through any administration rules. The property will then be introduced, together with a series of photos. Bidding will follow.
How do I make a bid? If you are interested in making a bid on a property, you have several options: Un-mute yourself (there is “Mute/Unmute” icon in the bottom left corner of your screen) and vocalise your bid. Use the chat function to submit a bid. Please submit to all attendees for transparency. If the auctioneer nominates a rise, put your hand up so it is visible on the screen. Please be aware, online auctions can take a little more time than public auctions, as it takes a few seconds to identify each bidder and their manner of bidding.
Will the Auctioneer refer the bid to the vendor at any time during the auction? Yes, possibly. If the bidding is referred to the vendor, expect the auctioneer to “leave” the auction momentarily to consult the vendor.
Can I watch the auction even if I do not intend to bid? If you wish to participate in the auction but not as a prospective buyer, the agent may ask that you switch off your video. This allows them to focus on the parties who do wish to participate. Also, please end your session at the conclusion of the auction.
What happens if my bid wins? Naturally, the auction will continue until the auctioneer sells to the successful purchaser, or the property passes in to the highest bidder. Before the property is declared either passed in or sold – the highest bidder must send a text message confirmation of the winning bid to the agent.
How does the online auction end? Once the property has been sold, the auctioneer will ask all parties to leave the online session, apart from the winning/highest bidder.
Will I be required to pay a deposit immediately and how do I do so? The sales agent will require a holding deposit to be paid at the conclusion of the auction and the balance on the following business day. The agents will confirm the required deposit amounts and internet banking details. The initial holding deposit needs to be paid via an EFT transfer to the Sales Agents Trust Account. Once all other participants have left the online auction, the next steps will be discussed. The Contract will be prepared and emailed to the purchaser for signing via computer, iPad, smartphone, iPhone device or using a very simple electronic signature function. You now have successfully purchased your desired property online!
Your Australian Property Secures Camberwell Home for Family at Zoom Auction @ 12 Amy Street, Camberwell
A fantastic example of a successful recent auction where Your Australian Property successfully secured purchase of 12 Amy Street, Camberwell that took place via a live Zoom auction on Thursday evening 12 August 2021 at 5:30PM, drawing almost 60 viewers online.
Your Australian Property ended up securing the ‘winning online bid’ delivering a highly successful purchase outcome for its client, the buyer! Proving that even during a lockdown, our experienced and expert Online Property Auction Bidders continue to achieve fantastic results on behalf of our clients’.
To watch a replay of the online property auction click here.
If this all seems too daunting and you wish to use our valued Online Property Auction Bidding Service to save you money, reduce stress and protect your anonymity, click here to find out more about Your Australian Property Online Auction Property Buying Service and our licenced expert team of Melbourne Buyers Agents with over 30 years’ experience in the real estate industry.
Your Australian Property lives and breathes property and knows the Melbourne Property Market! We at Your Australian Property offer comprehensive end-to-end support from identifying and analysing your selected properties to dealing with selling agents, attending property inspections, purchase negotiations and / or auction bidding on your behalf.
Our Independent Buyer’s Agents in Melbourne, will take the time to understand your situation and work out what your individual needs, specific requirements and property goals are, so we can begin searching for your next property.