Hamilton's launches a high-end auction platform
Category News
The art of property marketing embraces versatile and ever-evolving tools that expand the efficiency and ease of the selling and buying process. Globally, there is a major shift to digital auction platforms, which are achieving record-breaking sales.
At Hamilton's Property Portfolio, we keep our finger on the pulse of these shifting trends and have developed our personalised digital auction platform to enhance the boutique experience to which our distinguished clients are accustomed.
Dubbed "The Digital Boutique Experience" and powered through PremProperty, this exceptional platform offers a state-of-the-art user-friendly platform, with lightning-fast response times, and advanced digital technologies outpacing our competitors in the market.
To discuss the need to adopt a multifaceted approach to selling and buying high asset value property, we speak to our CEO, Regan Harris, to gain valuable insight into this new platform.
Q&A with Hamilton's CEO - Regan Harris
Q: Hamilton's is known for its superior brokerage and boutique service when it comes to buying and selling high-end properties. Tell us more about why you decided to venture into this high-tech auction environment?
Regan: Auctions and/or bidding have proven to be a successful method to sell properties in the overseas market, particularly in the States, Europe, and Australia. We are always on the lookout for innovative ways to provide the best results to our clients, and we believe online bidding will be a great addition to our service offering.
Q: There are negative connotations in the market specifically in South Africa, please tell us more about how this has changed and what is happening internationally?
Regan: Locally the term "auction" has generally been associated with distressed properties as banks have used auctions to sell properties in the shortest time period. While this has created negative connotations in South Africa, there is a definite shift as businesses are starting to realise how powerful bidding is and that it can be used for all types of properties, especially high asset value properties. The fact is that it is a proven and sustainable method to sell a property in a short period of time.
Internationally, auctions are a norm to sell properties and the online auction market is growing rapidly. This proves that bidding works in the property market, and the trend has already gained traction in South Africa.
Q: Did the global pandemic speed up the transition to online buying and selling?
Regan: The global pandemic has affected the way we do things, and in turn, has definitely sped up the transition to online buying and selling. The transition would have taken place regardless as times evolve, but the pandemic forced the South African market to transition earlier than one would assume we would have.
Q: What are the benefits for Hamilton's sellers?
Sellers can expect, in addition to the already high levels of professional marketing, to receive additional exposure to their properties. We see our auctions service as a "boosted" service, where we are combining our traditional boutique experience with online bidding to produce the best and quickest result for those sellers who are wanting to sell their properties in a shorter time frame, and for the best possible value, given the extended exposure.
Regan: Why are buyers choosing to bid on these online auction platforms?
Apart from the bidding process becoming a daily norm, buyers utilise these systems and the bidding process is a very exciting and simple one that keeps bidders engaged and enables them to partake and bid up until a point where they feel comfortable, whilst knowing that the entire process is secure, fair and that their identity is confidential.
Q: What is the agent's role in the process?
Regan: Our agents will facilitate viewings before the auction starts, drive potential buyers to register and bid, and finally, handle all post-auction processes as per our normal sales course of action.
Q: Tell us about the PremProperty platform, specifically the differentiators to other similar platforms.
Regan: PremProperty is built using the latest and greatest technologies. They have focused on building a modern, real-time auction platform that is available on the web and mobile platforms.
Speaking in terms of setting up and logging in, our system is exceptionally user-friendly. Once the application is downloaded you can log in/register yourself on the app where you will then receive a mail to complete your registration/bidding profile creation on the web portal. If you are already registered on the system, you can log in, view active bidding events, lots and related info. You can also send inquiries and bids as you would on the web portal.
Q: They have built a feature-rich auction solution that also minimises admin, and back and forth communication.
Regan: PremProperty is suited to our business and enables us to list out properties and related information dynamically so we have the ability to display what we want to with ease and without the system limiting us.
Q: Where to from here for Hamilton's? What are your next steps?
Regan: I see the auction process growing in popularity, and becoming a traditional trusted viable sales channel for our clients.
Q: What does the future of buying and selling property look like?
Regan: The future is multi-platformed. It is tech-driven and innovation-led. As ever, our objective is to provide our clients with The Boutique Experience: a professional, discreet interaction with exceptional levels of service. Our digital bidding platform extends this experience into the digital arena.
The Digital Boutique Experience powered by PremProperty will revolutionise the way in which we market our most prized assets. Because of this, the platform is currently being fine-tuned to provide a user-friendly, intuitive, and efficient experience.
We will continue to keep our customers and readers updated with the latest information regarding the digital bidding process. Launch dates for the site are to be announced soon.
We look forward to taking the boutique experience to the next level. We will keep you posted on our progress.
Read our previous article here: https://www.hamiltons.co.za/news/the-illustrious-waterfall-equestrian-estate-featuring-vivienne-holmes-sakhile-shandu/
Contact Hamiltons Property Portfolio for all your buying or selling requirements:
Johannesburg (Head Office): 011 463 0155
Cape Town: 021 418-0328
Garden Route: 044 050 3295
Eastern Cape: 076 927 7787
Or email to reception@hamiltons.co.za
Author: Lisa