Property investors are now able to identify and bid on auctions remotely using a new live-streaming functionality launched by Gavl.
Through Gavl, prospective buyers are now able to register to bid on their preferred auction. The platform will obtain permission from the listing agent and confirm within 48 hours.
Vendors can also request to have their auctions broadcast to a larger buyer audience.
Co-founder Joel Smith said that auctions streamed on Gavl attract 47 per cent more viewers than traditional ones.
He said that Request an Auction will be valuable for remote buyers.
“Buyers are able to have Gavl attend any auction they nominate, so they will never have to miss out on an opportunity due to logistical complications in physically attending the auction.
“Vendors, too, have the opportunity to directly book an auction with us, so they can open up their event to buyers all around the world. With more potential buyers, they’re giving their property the chance to receive more bids and maximise their sales result.”
Mr Smith said that prior to the Request an Auction app, buyers were limited to what they could achieve through the Gavl technology.
Gavl is a live-streaming and bidding platform for real estate auctions.
Mr Smith said that it has streamed more than 6,000 auctions, which have achieved 3.5 million views from 50 countries.
Gavl’s Request an Auction function is currently being offered in Melbourne and Sydney only.