FAQ

Why Should Choose MyOnlineAuction.com.au

Key High-Tech Features

• Audience 24/7 Online Access: Our platform provides access to a 24/7 global bidding community, allowing your listings to reach a broader audience beyond local markets. This increases the chances of a successful sale at a competitive price. Unlike traditional auctions that can be disrupted by adverse weather conditions, our online platform ensures that your listings are always accessible. Buyers can participate from the comfort of their homes, regardless of the weather, leading to more consistent and reliable auction outcomes. Manage your listings and interact with buyers anytime, anywhere, using our mobile-friendly platform. This flexibility ensures you can respond to opportunities as they arise, no matter where you are.
• Long Closing Period: Our platform offers up to a 30-day closing period, significantly longer than the traditional half-hour auction window. This extended timeframe provides both buyers and sellers with the flexibility to manage finances, complete necessary inspections, and ensure all paperwork is in order. This reduces the likelihood of last-minute complications and ensures a smoother transaction process.
• Countdown Design: Our platform features a dynamic countdown timer that either immediately starts or shows how soon the pre-auction phase will finish. This design engages and incentivizes buyers to make decisions quickly, driving more decisive action and potentially leading to sold.
• Overtime Bidding Extension: Our platform creates urgency with fixed “end dates” and extends auction times if bids are placed in the final 10 minutes. This overtime bidding extension drives competitive bidding, often resulting in higher sale prices and quicker transactions.
• Reserve Price Protection: Properties listed on our platform are protected by a reserve price. If the highest bid does not exceed the reserve, the property will not be sold, safeguarding your clients from selling at a price that is too low. This ensures that sellers receive fair market value, protecting their interests.
• Immediate Auction Closure Option: If the owner is satisfied with the current bid, they have the option to immediately close the auction before the official ending date. This flexibility allows for quick transactions when the price meets or exceeds the seller’s expectations, providing a convenient and efficient selling process.
• Transparent Bidding History: To ensure complete transparency, all bidder numbers are constantly refreshed and updated in the bidding history. This feature keeps all participants fully informed, making the process clear and straightforward for everyone involved. Stay ahead with real-time updates on property availability and bidding activity. Bidding history is updated instantly, keeping all participants informed and engaged throughout the auction.
• Dedicated QR Codes: Each property listing comes with a unique QR code that can be easily printed on yard signs, brochures, and other promotional materials. Prospective buyers can instantly access the auction page by scanning the code, simplifying the marketing process.
• Agent Personal Online Auction Page: Each agent is provided with a free personal online auction hub page, featuring a dedicated web directory to showcase all of their online auction listings. This hub enhances your online presence, making it easier for potential buyers to browse your properties and increasing your chances of successful sales.Your name will be prominently displayed on each page, increasing your visibility and enhancing your reputation. This helps you stand out as a knowledgeable and trusted agent within the auction community.
• Personalized Follow-Up: After bidders are assigned a bidder number, you will be notified with the bidder details to follow up. This ensures you can provide personalized support, build stronger relationships with potential buyers, and increase your chances of closing deals.
• Transparent and Discretion: Unlike traditional auctions where buyers may be hesitant to participate due to the public nature, our online platform offers a silent and private bidding environment, which can increase participation from those who value their privacy. Only bidder numbers are displayed publicly on the website, ensuring that buyers’ identities remain confidential. This appeals to buyers who prefer to keep their participation private, making them more comfortable and likely to bid.

Compliance and Integrity

• Accredited Auctioneer: Our platform features an accredited auctioneer who hosts the online auctions, eliminating the need to hire external auctioneers. This not only saves owner or agent budget but also ensures a consistent and professional auction experience.
• NSW Fair Trading Compliance: All our auction policies are fully compliant with NSW Fair Trading auction policies, ensuring that every transaction meets the highest standards of legal and ethical conduct. This compliance gives both agents and clients peace of mind, knowing that all activities are regulated and transparent.

Pay After Option:

We offer a “pay after” option where the small part of sales commission split covers the auction fee. This approach frees the vendor from upfront auction fees, making the auction process more accessible and attractive. It also increases the likelihood of successful listings, as agents and vendors can focus on securing the best possible sale without worrying about initial costs.

MyOnlineAuction.com.au