How it works - About - SoldOnline - The smarter way to transact property

Buy and sell property online

Buy Property Sell Property

Your first step towards purchasing your dream property is to simply register with the agent. You’ll satisfy the 100-point ID check (fulfilling the NSW Government regulations) and your details will be registered securely with the SoldOnline platform so you’re ready to bid.

Your First Bid

Once you’re registered on our platform, your agent will guide you through becoming a qualified bidder for the auction. You can choose your own bidder number which is valid for the duration of one auction only. You’re all set to secure your property at auction!

The Auction

SoldOnline auctions are set anywhere from 1 to 14 days. Throughout the pre-auction process you will receive notifications on anything relevant to the property and reminders to get set for the action. When the auction begins, you’ll see a starting bid appear. It’s important to note that this is a starting guide, not a vendor bid.

The Final Call Stage

At the Final Call Stage, any bids received within the last 3 minutes will restart the clock for another 3 minutes – giving bidders enough time to react and respond.

The Hammer Falls

Just like a real world auction, if you are the highest bidder after the reserve has been met - and the clock runs out - Congratulations, the property is yours!

It Pays To Be Up The Top!

If, however, the reserve has not been reached and the property passes in, the highest bidder will immediately be shown the reserve price. If this is you, you’ve earned the exclusive right to negotiate with the vendor or their agent for 60 minutes. Your agent will work with you through this hour to achieve the best result. At the end of this time, if an agreement has not been reached, the auction will be re-opened to all registered bidders.

Seal The Deal

Whether you were the top bidder when the hammer fell, or managed to negotiate a great outcome below reserve, you will need to contact the vendor’s agent and arrange to meet to exchange contracts. This needs to be done by 5pm the following day after the fall of the virtual hammer (as per registration conditions). At this time you will pay your deposit as per normal auction process.

Current online auctions

The SoldOnline platform provides a simple way to begin your property search. Find commercial, rural and residential properties listed anywhere in the country.

Unlock the door to purchasing

Once you’ve found the perfect property, it’s time to register on the platform. All you’ll need to do is to get in touch with the agent who will guide you through our simple registration process.

Access property information on your terms

Once registered, you’ll be able to gain access to the reports and information to give you a more in depth understanding of the property you’ve set your sights on. This means less time spent dealing with agents chasing up documents.

Clear communication

All of your communication with agents is stored in one central platform so you don’t have to chase email trails, worry about missed phone calls or feel in the dark about whether your offer has been received.

Ready to offer

And, when you are ready to offer - you’ll know that the offer is held securely on our platform. The agent will be notified immediately and the vendor will also know that an offer has been placed. No more wondering about whether the vendor is aware of your intentions!

Negotiations and Exchange

SoldOnline is the ideal venue to engage in negotiations. Once you’ve placed an offer and listed your conditions all of your communications with the vendor’s agent are stored and tracked. Contracts exchanged on the platform are enforceable too.

Simple EOI registration

Once you’ve identified the perfect property opportunity, you’ll need to register to be able to submit an EOI for it. The registration process only involves a few simple steps. In the first instance, you will contact the agent or representative for the property and they will guide you through your registration.

Access required documentation

Once your registration is finalised, you will have access to all the documentation you require for the property at your fingertips. The need to chase down reports and forms is removed by working with SoldOnline. Now, your communications are streamlined, transparent and available 24/7.

Submissions anywhere and anytime

When you are ready to submit your EOI, there is no confusion as to where to submit and how. All submissions are made through the portal and you will receive immediate notification of their lodgement. An extra layer of security is also provided as SoldOnline’s savvy communications technology alerts both the agent and vendor that an EOI has been received.

Staying in the loop

Traditional EOI processes can often seem a little shrouded in mystery. With SoldOnline, you know your submission has been received, that both the agent and vendor have been notified and that you will also be alerted on any changes in the process. If, for example, the vendor decides to bring the property to an online auction, rest assured our system will notify you immediately.

Making the EOI process a two way street

For too long, the EOI process has been protracted, favouring one way communication. Now, however, once your submission is lodged on our platform, you’ll know exactly where you are in the process and that you’re on a level playing field. Due to our proactive software, agents and vendors are able to move more agiley, which means the process is often shortened, moving from EOI to private treaty or online auction quickly.

Acceptance of your EOI

Once submissions close, you will also receive a notification and stay in the communication channel for progress updates. Should your submission be successful, the property purchase journey remains within the platform securely throughout contract exchange.

Choose a SoldOnline auction

Now vendors and agents can maximise the value of a property by encouraging buyers from anywhere in the world to compete in a comfortable and secure environment.

List your property

Once you’ve selected to auction your property on SoldOnline, you and your agent can register and upload your property in a matter of minutes. And suddenly, the doors are open to a worldwide market.

Get set with your personalised settings

Your marketing campaign will work alongside your SoldOnline listing. You and your agent will have access to a state of the art intuitive online dashboard with settings selected by you. Choose how long to set the auction for, bidding increments and upload relevant documents seamlessly. Of course many of these details can be set at a later date, such as the reserve, but all through the process you are in the driver’s seat.

Registering Bidders

As prospective buyers view the property, your agent can nurture the sale process. Bidders are encouraged to pre-register for the auction even if they are unsure they will bid. All bidders must prove their identity with the agents using an institutional form of photo identification which shows current residential address (e.g. typically a current drivers licence). The benefits to pre-registration are enjoyed by vendors, buyers and agents alike - as everyone prepares for a great sales outcome.

24 Hours To Go

Before the auction commences we will set the reserve price under your instruction plus other auction parameters such as the starting bid and minimum bid increments. This is the time for the agent to call all registered bidders, maintaining excitement and ensuring they have completed registration and are ready to go.

Open for business

Your actual auction commences after the normal agency marketing campaign comes to an end. Typically our online auctions are 5 days long but can range anywhere from 1 to 14 days - whatever works for you and your market. Throughout this process, you and your agent are promoted by smart notifications tracking the auction’s progress and alerting you to bids and buyer engagement.

And we’re live

Once the auction is "in session" bidding can commence. Buyers can login to the website via their computer or mobile device to securely bid from wherever they are in the world. Notifications prompt them in real time if they are outbid, when there is 1h left and if reserve is met. Agents can oversee the auction live via their dashboard and exercise vendor bids (where available), adjust reserve amounts or bidding increments. Because an auction typically runs anywhere from 1-5 days, everyone has time to consider their options and agents have time to encourage bidders to participate.

Convert “Property Passed In” to “Property Sold”

If the reserve has not been reached and the property passes in, the highest bidder will immediately be shown the reserve price. As the top bidder, they will receive the exclusive right to negotiate an outcome for 60 minutes. The agent will facilitate this process between vendor and bidder. If no agreement is reached, you have the ability to continue the auction.

The Hammer Falls

Once the virtual hammer falls at a price you’re happy with, your selling agent will finalise the transaction by exchanging contracts. Bidders ARE NOT required to pay for the property, or any part of it, via our platform.

Open the doors to sales across the globe

When you choose to list your property with SoldOnline you’re opening up the potential to reach an unlimited number of buyers.

Show them what you’ve got

Your property - whether it’s residential, commercial or rural can be listed in a matter of moments. Simply upload images, relevant documents and contact details and you’re set to start taking offers.

Manage the sales process through the dashboard

As an agent or vendor, you know that communication is key. With your marketing plan already in action, you can leverage your listing on SoldOnline to field enquiries, take offers and communicate with prospects about everything your property has to offer. The intuitive dashboard prompts all stakeholders with savvy and timely notifications through the process.

Track engagement

With your property listing up and running and prospective purchasers registered on the platform, agents and vendors can track engagement, gain insights into market expectations and access analytics which make for smarter decisions.

Receive offers

All offers are taken via the SoldOnline platform. You can see at a glance where and when offers are submitted and receive key information about interested parties. This brings benefits for all stakeholders. Buyers are notified their offers and conditions have been received, vendors know offers have been submitted and agents are provided with details securely to help nurture the sale. We have added clocks to the offer process to keep pressure on all parties to act.

Agility means everything

As we all know, changes in the market can happen rapidly. The SoldOnline platform allows vendors and agents to change strategy to reflect changes all in a few simple steps. At the click of a button adeptly move from private treaty to online auction, change pricing strategy or amend inclusions. You are in control of the process, knowing registered prospects will be notified every step of the way.

Negotiations are seamless

Well, not every negotiation is easy - but SoldOnline makes it easy to negotiate. Our system delivers real time reports to agents and vendors so they are kept abreast of current market conditions. All of your communications are centralised, tracked and qualified. This means that as an agent or vendor, the time consuming task of keeping everyone in the loop is now managed for you, giving you more time to encourage great sales terms.

Accepting offers

The fun bit of every property sale! Letting buyers know that you have reached an agreement is all taken care of through the platform. Everyone involved in the sales process receives notifications and can celebrate together. Once an offer is accepted, buyers are prompted to contact the agents and exchange contracts leading to settlement.

Wide scope for your real estate development, commercial property or opportunity

The EOI process begins on SoldOnline with your registration as a vendor or agent. This opens the doors to a huge potential market worldwide.

Listing your opportunity

Generally EOIs involve a substantial marketing campaign to increase awareness and interest. With SoldOnline this is amplified as your listing is open to interested parties in just a matter of moments. Upload your submission forms, property images, plans and details in a few clicks. Buyers are automatically and systematically reminded to finish certain key parts of an EOI.

Encouraging engagement

Agents are provided with the tools to qualify and register interested parties. By guiding prospects through the registration process, agents are able to build relationships and increase the potential for beneficial outcomes for all.

Clear and transparent communication

Once you’re registered, the opportunity is uploaded, your agent has kicked off their marketing campaign and interested parties are registered, you can watch as enquiries and submissions roll in. From the online dashboard you are alerted as to which pieces of communication registered prospects are engaging with and when offers come to the table. Communication is clear and all stakeholders are notified of movements in real time.

Manage the EOI process

The SoldOnline dashboard operates as your ear to the ground. You can assess what levels of interest the market is displaying, see what images and information they are engaging with and then dynamically adjust your campaign or conditions accordingly. You can send reminders, use the settings on your notifications or even switch gears to an online auction easily.

Shorten the process

By managing the EOI process with SoldOnline you substantially reduce the time from calling for expressions to selling the property. Smart timers and clocks keep everyone focused on key dates and you can move quickly once your submission date closes.

Move smartly

Once you have the submissions securely stored in the platform you can choose to accept offers, engage in negotiations, list a property for private sale or begin an online auction - all in a matter of minutes. You’ll have the information to hand to secure the best outcomes for your property and a list of contacts interested in taking on your property opportunity.