Over the weekend, the State Government announced some key changes to the real estate industry. From 11.59pm Sunday, onsite auctions are once again allowed to resume in Victoria for the first time since August, with a maximum of 10 people permitted on-site.
With the ban on private in-person inspections eased on September 28, we’ve already seen a huge boost in auctions, and this recent change to allow public auctions will only accelerate this selling activity.
We’ll be kicking off one of our first live auctions this Saturday. We have traditionally found that vendors will avoid holding an auction during large public events, but the old rules have clearly gone out the window this year.
Whilst we are looking forward to getting back out there and selling to an excited crowd, it has been interesting to reflect upon the past year, and how much has changed in the auction space.
If you had asked us in October 2019 whether the industry could operate without live auctions, we would have laughed. But fast forward to now, and the landscape looks completely different.
We now have the digital systems and process in place to host large, successful online auctions, which often attract over a hundred viewers – dozens more than a traditional auction! Therefore, nearly every auction we hold moving forward will be a combination of in-person and online, to maximise opportunities for our vendors and expose the property to many more potential buyers.
So, whether online or in-person – we’ll see you there this weekend!