Who Says Property Auctions Have to be Cash?

Perth WA, Australia, August 29, 2008 --(PR.com)-- Tony Wiles of GeeWizAuctions.com, Australia’s online real estate auction website, claims flexible ideas are needed in the current real estate market. Rules governing the online auction site have been changed to allow conditional bids instead of restricting bids to cash only. This creates a more user friendly bidding system that benefits both sellers and buyers.

‘A Geewiz online auction gives people who are not necessarily cashed up the opportunity to change the outcome of auctions for the better, by now allowing buyers to make their bid subject to finance or the sale of their home. The seller chooses the best bid,’ explained Tony Wiles.

In Western Australia, more properties are sold by private treaty than by auction but online auctions offer greater flexibility and appeal, particularly to Generations X and Y, who barely remember a world before cyberspace. Real estate agents can ensure they don’t lose touch with this expanding market by increasing their online presence and offering the latest technology to clients.

A stand alone website more than three years in the making, the “Geewiz” model brings a new level of transparency to real estate sales and makes auctions more accessible to sellers and buyers. Instead of a physical auction being held on one day, it runs for five weeks online, taking away the pressure but not the excitement. Buyers view extensive property information online including disclosures and the terms of sale, allowing plenty of time to assess all the information, view the property if they are local, and place their bid online. Bids can be cash, subject to finance or subject to the sale of a property.

Sellers can find local ‘Geewiz Accredited agents online geewizauctions.com or call 08 9450 7960 in Australia. Agents can request an information pack via admin@geewizauctions.com

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