Major online portal enters lucrative auction space

By Tim Neary

One of Australia’s largest real estate platforms has announced a new strategic partnership with a crucial service provider, as the industry’s digital heavyweights compete for market dominance.

Domain Group announced a partnership with Australia’s largest independent auction company, Cooley Auctions to launch Domain Auction House.

As part of the two-year partnership, Domain will have naming rights to Cooley Auctions, which located in Sydney’s eastern suburbs of Double Bay. The company’s commercial real estate business will also sponsor Cooley Auctions’ commercial auction facilities in Sydney’s CBD.

Cooley Auctions founder Damien Cooley also signed an exclusive deal with Domain to be an ambassador for its recently launched national education program, Domain Academy.

With decades of auctioneering experience under his belt, including holding the Australian record for the highest sale of a single dwelling home sold at auction, Mr Cooley will bring a wealth of knowledge to Domain’s platinum clients as part of the Domain Academy.

Domain CEO Antony Catalano said the partnership made sound strategic sense.

“The auction house sponsorships provide a valuable consumer touchpoint, with brand exposure to serious bidders across a full calendar of in-room auction events,” Mr Catalano said.

“We’re delighted to launch Domain Auction House in the heart of Sydney.”

Meanwhile, Mr Cooley said Domain Academy was a “great concept”.

“[It is] the perfect way for agents to gain valuable insights,” he said. 

“As an ambassador, I will discuss the concept of auctions, not just from an auctioneering point of view, but about the entire process from start to finish, things like why we use auctions as a method of sale, how to talk to a seller during a campaign, how to qualify a buyer and how you bring all of that together to secure a great price.”

Domain Academy online will launch in the coming weeks.

Major online portal enters lucrative auction space
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