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realestate.com.au Turns to Online Auctions

April 2, 2020

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After the Australian Government shut down public auctions last week, the REA Group has teamed up with the AuctionNow platform to try to keep the wheels of the property market wheels turning during the COVID-19 crisis through online auctions.

Core Products General Manager, Tim Bradley was quoted as saying “We’ve had an amazing response to the launch of Digital Inspections with almost 30,000 active Buy listings on realestate.com.au now featuring a virtual tour of properties. Online Auctions is another user-friendly feature to cater to today’s new operating environment.”

Around the world we have seen collaboration between portals and proptech companies offering solutions that allow the property industry to overcome social isolation. Spanish #1 portal, idealista today reported an increase in demand for virtual tours on its platform, and as we reported yesterday, virtual tour provider, Matterport has seen a 600% increase in 3d camera sales.

Could the online auction model taken up by realestate.com.au be the next big thing for portals? Watch this space...

by Edmund Keith

April 2, 2020

Edmund got to know the world of portals and marketplaces working at Mitula Group (which became Lifull Connect after the buyout in 2018). He worked directly with hundreds of portals across the world in his role in the content department for three and a half years before transferring to the SEO department to understand the inner workings of listings sites. He joined Online Marketplaces as Head of Content in March 2020.