Why online Auctions don’t work

THE FUTURE of real estate purchasing has long been forecast as digital. But conducting home purchase transactions over the internet rather than face-to-face is still a rare occurrence.

We know over 95 per cent of people use the internet and apps to do their property research but the emergence of online auctions has never been widely embraced.

There are several online platforms these days where buyers can bid on properties rather than turn up to an auction or estate agent’s office to sign the deal. These listings tend to be properties that are more likely suited to private treaty, so they get a boost via their online auction.


The recent auction of 51 Perth St, Camp Hill. On-site auctions still generate the most interest. Picture: Annette Dew


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