Real estate auctions enter new era

The home of Johnos sheep studs is a 378.4-hectare holding complete with 303,806-kilolitre a year underground water system on the Riddoch Highway, 17 kilometres south of Keith.

AuctionsPlus has worked under the guidance of SAL Real Estate to build the format of the sale campaign and auction process which will work within the bounds of the Real Estate Institute of SA's terms and conditions.

A physical auction will be held at the Keith Football Clubrooms at 1pm but a simultaneously interfaced electronic auction will allow those interested to see or bid from their homes or offices at the same time.

Those interested need to register and will then enter into a process which will allow them to bid through their bid base via AuctionsPlus, much as bidding for livestock, wool, or farm machinery online.

SAL Real Estate's Denis Overall said it was one of the most exciting developments he had seen in his time marketing real estate, but was conscious it would be a change that could be daunting to some.

He said he had held a desire for some years to offer properties by auction electronically but legislation at the time precluded electronic real estate auctions.

Mr Overall is thrilled to see it come together, with the support of SAL general manager Laryn Gogel.

"The concept of promoting and advertising the property along with drawing on the network and our database of potential purchasers remains the same but with the new generation of farmers we work with we need to bring marketing into the future," Mr Gogel said.

"We envisage Electronic Auction is a component we wish to offer both our vendors and buyers."