Damien Cooley | Innovation in auctioning: how are we selling now?

Damien Cooley is one of Australia's most well known auctioneers and is managing director of Cooley Auctions and the founder of AuctionNow, which has been critical in transitioning the real estate market from in-person to online. In today’s episode, we discuss how buyers and sellers have reacted to the restrictions, the technology that has helped transition the market, and eye-opening data, including: clearance rates, region-specific data and utilisation of online tools.

Here’s what we cover:

• How did the covid-19 restrictions affect auctions?
• With the technology existing for years, how many auctions were run online?
• Who cancelled their auctions first? 
• How does AuctionNow work with different state legislation?
• How has the clearance rate changed over the last quarter?
• Has online auction now been normalised?
• Why did certain regions not adapt to online auctions?
• What happened to the vendors who were caught in March?
• Despite the market being tough, will there always be scarce property for sale?
• Since open houses are back on, will they go back to the norm?
• Why is this the best time to get back in the market?
• Is it off market or is it pre-market
• How are banks pulling finance from clients days before settlement?
• How to get ahead in auctions?

MENTIONED EPISODES:Episode 1 | Simon Russell Episode 2 | Damien Cooley Episode 115 | Eliza Owen

GUEST LINKS:Cooley Auctions AuctionNow Cooley Index

HOST LINKS:Looking for a Sydney Buyers Agent? www.gooddeeds.com.au Work with Veronica: info@gooddeeds.com.au 

Looking for a Mortgage Broker? www.wealthful.com.au Work with Chris: hello@wealthful.com.au

Buy the book - AUCTION READY How to buy property at auction even though you’re scared s#!tless:www.getauctionready.com.au Use the coupon ELEPHANT for your 30% listener discount.

EPISODE TRANSCRIPT: Please note that this has been transcribed by half-human-half-robot, so brace yourself for typos and the odd bit of weirdness…This episode was recorded on 13 May, 2020.

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