A Melbourne real estate agent breaks new ground by conducting the first-ever property auction using Virtual Reality goggles, offering vendors a front-row seat to the action
Ray White Cheltenham agent and auctioneer Greg Brydon made history by selling the converted church at 3/30A Ormond Rd, Elwood, in a landmark VR property auction that lasted just over nine minutes, culminating in a successful bid of $1.487 million.
Brydon described the groundbreaking auction as a swift process, with the hammer falling after a mere four minutes. He highlighted the unique advantage for sellers, who could witness the auction firsthand through the VR goggles, providing them with unprecedented insight into the auctioneer’s perspective and enabling real-time communication to make crucial decisions, such as putting the home ‘on the market’.
“Wearing the VR goggles from local Melbourne company Webtron allowed the vendors to gauge the flow and dynamics of the auction. They could observe bidding patterns, analyze body language, and assess the overall atmosphere, offering them invaluable insights into the auction process.”
Greg Brydon, Ray White Cheltenham agent and auctioneer
The bidding commenced at $1.275 million, quickly escalating to $1.3 million and then $1.35 million before settling into $20,000 increments. Brydon attributed the success of the auction to meticulous preparation, including selecting a unique property with high market interest and educating both vendors and potential buyers on the VR auction experience.
“My sellers are thrilled with the outcome. Their trust in the process, combined with the innovative use of VR technology, helped us achieve an exceptional result. The new owner, a resident from Sassafras in the Dandenong Ranges, is poised to enjoy the vibrant Elwood lifestyle.”
Greg Brydon, Ray White Cheltenham agent and auctioneer
The successful auction underscored the potential of VR technology to revolutionize the real estate industry, offering enhanced transparency and engagement for both sellers and buyers. As Brydon reflected on the historic event, he emphasized the importance of building trust and leveraging innovative tools to maximize outcomes in today’s dynamic property market.
