Crikey! I’ve just realised my days as an auctioneer might be numbered. I’m becoming old fashioned. Outmoded. Irrelevant. Want to know why?

Online auctions.

Yes. They're a thing.

Propfi.action has launched in New Zealand this month. And it's pretty exciting!

Now you can buy and sell houses on-line. You still use a licenced real estate agent, but rather than a physical auction, the auction is done online.

Why is this a good thing?

By taking auctions online, us real estate agents can offer the same benefits to vendors, while making auctions accessible to the greatest number of bidders. 

From the buyer's perspective, this is a real plus. Getting to an auction (or more likely several auctions) can be a pain. So if you can do it on an evening from your couch - sweet. And for the vendors - the more bidders the better!

The first ever online auction in NZ

It's this weekend folks! And it's one of my properties. $1 reserve.

That's right $1 reserve!

So are there hundreds of bidders already registered? Surprisingly not. There are certainly a lot more bidders than we'd expect from a traditional auction. But it's almost as if people don't believe the property could sell under value.

We'll see...

If you want to check out the auction site and the property head to www.propfi.auction

What do you think? Are my auctioneering days numbered? Personally, I think the auction room still has an important place. But Online auctions are a great tool that I guarantee we'll be seeing more of.

Rodney Fong is a licensed Real Estate Agent working with clients throughout Tauranga, Mt Maunganui and Papamoa.