It’s the new wave of Pakenham auctioneering that’s preparing to take the market by storm.
Gone are the days of battling unruly weather and interruptive traffic at your average Saturday morning street auction.
Instead, Ray White Pakenham has the perfect in-room auction alternative that is bound to please both vendors and buyers.
Officer in Effective Control Nicole Miller and her team at Ray White Pakenham put seven homes under the in-room auction hammer at the Cardinia Culture Centre on 11 May.
With about 100 people filling the seminar room, four of the Pakenham and surrounds homes sold, with one property selling prior to the night and another two selling in the week that followed.
“It’s the first time an in-room auction has been done in Pakenham. It just makes sense to do it,” Nicole explained.
“It’s a number of auctions being called back-to-back in more controlled environments.
“Usually auctions are onsite whether its rain, hail or shine.
“For the vendor, these types of auctions are great because they’re not losing buyers to unpredictable variables.
“Also, everyone has to register prior to bidding, so we knew how many people were there to bid. It was a good indication of who was there.”
Time effective, weather proof and informative, Ray White’s in-room auctions have a long list of advantageous elements without sacrificing the interactive and personal touch of a street auction.
“We run a four week campaign for these auctions.
“The properties are opened for inspection four weeks prior and are open in the afternoon of the auction as well.
“All of the buyers and vendors come into the auction room and we have a bit of a slide show and presentation prior to the beginning,” Nicole said.
“But all of the staff from Ray White Pakenham are there to help out doing things like signing contracts, assisting buyers in making bids and taking registrations when people were coming in.
“It’s all hands on deck, you’re not just getting a couple of agents, you’re getting a whole team.”
Despite a popular auctioneering option adopted by Ray White nationally, in-room auctions were previously foreign to the Pakenham market.
However, with the success of their latest endeavour, Nicole and the Ray White Pakenham team are looking forward to continuing to introduce Pakenham to the in-room auction.
“A lot of the vendors hadn’t heard about in-room auctions. But when we explained what it is and what it entailed, I was blown away by how many people were interested in the process,” Nicole said.
“In Pakenham we can be lucky to have 20 auctions a year, and we had seven in one night.
“We were happy that a lot of the properties went through the reserve and got really good results. One went for $40,000 over the reserve.”
Nicole and her team have more in-room auctions planned for 21 June and 26 July.
Interested vendors are encouraged to contact the Ray White Pakenham office to find out more information.