New technology lets you bid on an auction from anywhere in the world

New technology lets you bid on an auction from anywhere in the world

REALMARK has brought traditional auctions into the digital age, launching new technology to enable buyers to bid on auctions and follow their progress anywhere in the world.

Buyers who are overseas, interstate, down south or simply have another commitment will no longer need to engage someone to bid on their behalf or make bids by phone to an agent or representative.

Livebid allows agents to electronically record auction bids, which are instantly made visible to users, letting them track auctions in real-time from any online device anywhere.

It converts bids into 10 common currencies.

Realmark used the new technology at several auctions last month, including one that saw a 1950s home on a 980sq m block in Carine sell for $875,000 with nine bids in seven minutes.

Managing director John Percudani said Livebid was game-changing technology and would revolutionise traditional auctions by streamlining the sales process for buyers, sellers and agents, regardless of their location or time zone.

“We recognise that buyers and sellers are more mobile today and Livebid will enable our agents in WA to offer clients a more effective, convenient and transparent way to buy and sell property – whether they’re in Perth, interstate or overseas,” he said.

Mr Percudani said the technology would enable agents to help clients better understand the benefits of auction compared with other sales methods and he expected a strong result from auction sales in 2018.

“The auction sales method has been around for decades and continues to effectively generate fair competition between buyers and sellers,” he said.

“Realmark continues to see year-on-year growth of auction uptake and clearance.

“We expect this number to continue to rise as buyers, sellers and agents become more confident in the auction process, and Livebid will certainly add to that in 2018.”