Online Commercial Property Auctions In Australia

Online commercial property auctions - why it makes sense

The commercial property market sector of our industry is expected to grow at least into the double digits in 2020. Due to decreased interest rates and the impact of RBA rulings that should support the yield compression. A recently released report by Knight Frank indicates that commercial real estate investment will grow steadily in the foreseeable future.

One key factor to consider here is that much of this investment is anticipated to be generated offshore, in particular from the Asian region. Whilst local buyers are expected to show a renewed interest in the sector, it seems as if they may be focusing on the office market.

Online Commercial Property Auctions
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What does this mean for commercial property auctions online?

It’s not hard to extrapolate that, as markets become increasingly decentralised, as commercial property agents, we need to be looking at widening our audience. An online commercial property auction speaks to this directly.

SoldOnline represents an ideal addition to your suite of tools as a commercial real estate agent. Offering bidders the opportunity to bid online from anywhere in the world broadens the scope for achieving maximum sales results. “With foreign investment becoming more significant in the commercial real estate sector, we’re seeing a lot more interest in the online commercial real estate auction platform”, according to SoldOnline founder David Scholes. “Agents are approaching us to list for auction their commercial real estate online not only to widen the market, but to ensure that we lower the geographical barriers of having to attend onsite auctions”.

An online commercial property auction - how it can reduce the costs to your client

The control over the purchasing process that an online commercial property auction provides is tangible. Bidders are registered and vetted online and the auction itself is managed by our professional auctioneers.

Your clients will no longer need to dedicate the time to travel to an onsite auction and many of the administrative tasks and negotiation are all managed by our online portal, SoldOnline. The entire process is streamlined and amplifies the possibilities to achieve higher levels of sales, whilst minimising the costs associated with onsite auctions.

Regional Commercial Real Estate - why an online property auction works

To date, we have sold 56 commercial properties through our online property auction portal. These commercial properties are located in both urban and regional areas.

An online commercial real estate auction when supported by a solid marketing campaign ensures that bidders are able to bid in their own timezone and location. We’ve seen this increase the number of bidders anticipated markedly.

The timing of the online property auction also provides a more decent timeframe to achieve maximum results. Rather than the usual 10 minute event, an online commercial property auction can be set over a few days. Bids are transparent and metered by our auctioneer. The extended amount of time and transparency of bids allows buyers to defer decisions to their teams and advisors and to secure additional financing if they are motivated to do so.

This leads to a more qualified market, where buyers can bid from their own location and access any additional information they need to purchase.

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