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Missing The Auction Doesn't Mean Missing Out, Thanks To New Tech

auction

The future of attending an auction for that dream home could be not attending at all.

It’s an odd statement, but Australian-based software start-up, Real Platforms Pty Ltd, has made this possibility a reality by launching their new mobile online auction bidding platform, FinalCall, which is designed to allow home-hunters to place bids in real time from any location around the world.

The platform aims to deliver greater convenience and additional opportunities for home-hunters who may have multiple scheduled auctions on any given day or are interstate or overseas and unable to appoint a proxy in their place.

Real Platforms chief executive officer Paul Arnost said with over 90 per cent of buyers beginning their home search online and a number of other live technology options emerging, FinalCall provides real estate agents with an opportunity to move with the market.

“FinalCall has been designed to work alongside the traditional auction model, providing an opportunity for bidders who previously have not been able to attend the auction to be able to still experience it in real time,” he said.

FinalCall was launched after a series of successful live auction trials conducted in conjunction with real estate agent Besser & Co.

The online platform is designed to be run autonomously by real estate agents who can list upcoming auctions to the platform, upon which verified potential bidders are able to bid in real time, with 100 per cent of the commission from the sale remaining with the agents.

“It gives real estate agents the opportunity to adjust to the ever-changing consumer market and move into the online bidding space,” Mr Arnost said.

“It allows them to access a larger audience online and increase the chance of a property’s sale, especially if there is significant interest from interstate or at a busy time of year.”

Potential home buyers can also gain additional information on a property and its auction beforehand due to FinalCall’s ability to complement existing listing websites.

“There are currently a number of other online platforms emerging which are hosted through a third party, shifting the buying and selling process away from real estate agents,” Mr Arnost said.

“FinalCall differs from this, and is the first technology to allow agents to remain in control of the whole auction process and maintain the client relationship.”

FinalCall will be available in New South Wales and Queensland shortly after a launch in Melbourne.

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Article originally posted at: https://theurbandeveloper.com/articles/missing-auction-doesnt-mean-missing-out