A simple guide to auctions during COVID-19 Lockdowns

With lockdowns and restrictions currently imposed to help stop the spread of COVID-19, Place is conducting its auctions online and allowing you to still secure your dream home. To make this process simple, we’ve put together an essential guide.

 

Now may be a challenging time for South-East Queensland, but it’s also an incredibly exciting time for auctions. In July alone, Place had a 94% clearance rate, with 109 out of 116 Auctions we held selling under the hammer. As a business, we are now prepared for circumstances like this and have a lockdown way of doing business that means Auctions and open homes can continue as usual. 

 

If a Place auction was scheduled for a particular date but it has been changed to be online due to COVID-19 lockdowns, what can potential bidders do to still participate?

Place will still be conducting auctions via the highly credible Gavl platform. Tailor-made for the real estate industry, it livestreams auctions and inspections in absolute real-time to potential buyers around the world. Gavl also allows you to easily browse listings, shortlist properties, watch, bid and buy at auction from the comfort of your own home.  

Sellers can also feel confident in Place’s ability to still hold successful auctions, as our agency has been working with the renowned platform since 2019.  

 

Is there anything potential bidders have to do to ensure they can be involved with the online auction?

Livestreaming an auction via Gavl is a wonderfully simple and user-friendly experience. First, you will need to download the Gavl app from the App Store or Google Play on your device. Then, you can make a free account before browsing properties you might want to bid on via the Gavl app or on Place’s livestreamed Auction page 

After registering for any auctions you would like to participate in and providing the Place Agent with your completed registration form, you can watch the auction live and simply click on the ‘Apply to Bid’ button to bid.  

 

On the day of auction, what should I do?

It’s recommended to allow plenty of time before the auction to correctly set up and ensure you have a reliable internet connection. The auction will commence streaming a few minutes prior to the advertised auction time, so that the Auctioneer can commence calling right on time.  

Via Gavl, you can watch the auction live as it is happening and follow the bidding on your screen. To place a bid, use the prompts on your screen – there is also a quick video demonstration available if you would like to practice the process.  

If you are the highest bidder and the successful buyer, the agent will Docusign the Contract of Sale for immediate selling (if this can’t happen immediately, the auctioneer will sign the Contract of Sale on your behalf). Place will then provide the trust account details so you can pay the deposit in accordance with the contract terms. Then, it’s time to celebrate! 

Of course, if you’re a registered bidder and have any questions or concerns about the process your Agent and Auctioneer will be able to assist you.

 

What are the benefits of having an auction via Gavl?

COVID-safe and convenient, this method of auction allows events to continue regardless of the circumstances at large.  

If you want to join in on the Auction Action, head to our live-streamed auction page and get scrolling! 

For more information and to keep up-to-date with all things Brisbane real estate, subscribe to the newsletter below.  

 

 

Article by Emily Russ

Article by Place Newmarket

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