Virtual reality tech sees home sellers bid goodbye to auction stress

Paul Eyers
By Paul Eyers
3 Min Read

Selling your home can be one of the most stress-inducing experiences any property owner can partake in.

And there’s likely no more stressful way to sell it than via an auction.

Worries over attracting enough interest, the reserve not being met, or the embarrassment over receiving no bid can be enough for even the most level-headed homeowner to lose sleep.

But a game-changing piece of auctioneering tech is set to sell off some of those concerns when it makes its Aussie auction debut this weekend.

Mixed virtual reality auction software will provide a never-before-seen level of interactivity, real-time data, and bid responding between auctioneers and vendors as they attempt to get the best price possible for their property.

Designed by online auction platform Webtron, the software means vendors no longer have to spend the auction process peaking from behind the curtains, giving them the power to influence the selling process during the proceedings.

Users will be able to see, hear, and interact through the eyes of their auctioneer while viewing real-time auction and bidding information in augmented reality from prospective buyers.

The Webtron VR auction software allows users to simultaneously view real-time data

Webtron founder Alex Hill says the VR software won’t be the first time the Webtron platform will make history, with the company selling the first house online via live webcast auction format in 2007.

“Since then, there’s been tens of thousands of online real-estate auctions. Now, for the first time ever, we are making it possible to see, hear, and interact through the eyes of an auctioneer during live real-estate auctions. There’s no turning back. This cannot be unseen,” he said.

How the virtual reality auction software works

Ray White Cheltenham’s Greg Brydon will have the honor of being the first auctioneer to don the cutting-edge VR goggles this coming weekend, with his point of view being broadcast to those watching elsewhere.

He says the technology has the power to transform auctioneering in the future.

“Never before has the vendor been able to feel what the auctioneer feels and see what the auctioneer sees,” he said.

“We always want to put the client first and to be able to give the vendors a real-time view of what is happening with their most expensive asset, which is an absolute game-changer.”

A Webtron auctioneer dons the headset for a trial run

This groundbreaking auction event will occur at 11 a.m. this Saturday, April 27th, at 3/30A Ormond Road, Elwood in Victoria.

The two-bedroom, two-bathroom open-plan unit lies just 8 km outside of Melbourne’s bustling CBD and is expected to fetch more than $1.35 million at the auction.

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Paul Eyers has worked as a journalist for a range of media publishers including News Corp and Network Ten. He has also worked outside of Australia, including time spent with ABS-CBN in the Philippines. Stepping away from the media, Paul spent five years sharpening his tools in construction - building his skill set and expertise within the trade industry. His diverse experiences and unique journey have equipped him with an insider view of Australia’s construction game to dig deep into the big stories.