How a virtual auction led to a local property sale

Uncertain times can often be a breeding ground for innovation in business and one Coffs Harbour firm is right at the forefront.

UNCERTAIN times can often be a breeding ground for innovation in business and The Edge Coffs Harbour is right at the forefront.

When restrictions were placed on in-person auctions due to COVID-19, the team at The Edge Coffs Harbour had two options for the auctions they had already scheduled: change strategy completely or embrace online and forge ahead.

With plenty of enquiries still coming in for both properties, they decided to do the latter.

Principal Jason Burnett said it was unchartered territory for the team, but plenty of rehearsal and team work brought it together.

"It was pretty daunting at the start, given it was new territory for everyone, including the buyers - but we got together as a team and workshopped and did lots of rehearsal," Jason said.

"We've got the best auctioneer in town in Kel Gibson - we did the work behind the scenes but in the end, he was the one talking to the camera and he just did an amazing job."

With a number of registered bidders and a decent crowd watching on in cyber world, one property passed in, but the other sold under hammer in an excellent result for the vendors.

While restrictions are easing with open homes and in-person auctions back on the agenda, Jason said they will still be taking advantage of their newfound format.

"This is another weapon in our arsenal we can offer our clients," Jason said.

"We had good feedback; some really enjoyed because it was anonymous, and others really embraced the format. Now we've got some runs on the board we can confidently offer this as another option for vendors moving forward."

Jason said regional places like Coffs Harbour could see some benefit in the local real estate market in the future.

"As we get back to whatever normal is now; I think Coffs' is in a good place in the marker; we're already talking to people out of Sydney looking to get out of the city.

"Real estate always transacts at any time; if you're talking about buying and selling then there's no better time.

"While there has been some uncertainty if you're playing the long game it's normally pretty safe. Do it as you need to; there's no price changes that we've seen and it's certainly not all doom and gloom."