2022IssueVol.0415 Transforming Industries Revolu onizing Retail Through Social Commerce and Online Auc ons Online Auc on How the Internet and Technology are Changing Auc ons? Equipment – Real Estate - Consignment Corey Sekura Chief OfficerExecu veandPresident The 10 Most Promising Online Auction & CompaniesBidding
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global businesses pivoted to online mode during the pandemic, the auction and bidding space also followed the trail and online auctioning became a much more common phenomenon during this period. There came numerous advantages in the sector with most of the auctioning business happening online, from more buyers coming to bid a promising price on a particular commodity or service because of the accessibility factor or costeffectivity of the business activity due to its online mode.
hat does your mind picture instantaneously as
editor
Bhushan Bhad Managing Editor
W you hear the words “auction” and “bidding”?
Most of us have an idea about how auctions are conducted in the world of cinema. We’ve seen auctioneers describe an item and then prospective buyers raise their paddles to place a bidding price on them. For the most part, auctions take place the same way, obviously with a much less flare of dramatics and suspense that happens in the
Online auction and bidding have undoubtedly reached a far greater audience during this time and recognizing this growth many companies have leveraged the opportunity to make optimum of it. These companies are providing a fitting platform for potential buyers and sellers to conduct auctions online with much ease and efficiency.
Enabling Auctions to Be More Accessible!
To recognize such proficient platforms, we at Insights Success have come up with an edition called “The 10 Most Promising Online Auction & Bidding Companies”. The cover of this edition features Team Auctions which is a complete Auction Center for Real Estate, Equipment, and Consignment Auctions.
,
Online auction and Bidding platforms is the future proof road map that is advancing the industry to its deserving success.
- Trishika Rokade
Have
,
Lined up in the list are more such disruptive platforms that are trailblazing the auction and bidding space. Flip through the pages of this edition to know their stories and get enlightened on the latest insights from the industry given by the industry experts themselves. Also, make sure to read the articles written by our dedicated in-house editorial team. an interesting read!
08 Equipment – Real Estate - Consignment
Maxsold A Promising Name in Online Auc on and Bidding Space 16 24 36 30 Proppy.co.nz Buy and Sell Property with Transparency JANE PEYTON CxO MONTE M. WYATT CxO Articles 20 34 Revolu onizing Retail Through Social Commerce and Online Auc ons How the Internet and Technology are Auc ons?Changing Online Auc onTransforming Industries
sales@insightssuccess.com April, 2022 Circulation Manager Tanaji Fartade Research Analyst Eric Smith Editor-in-Chief Mary AnishD’souzaMillerSenior Editor Kelly, DavidBusiness DevelopmentManagingExecutivesEditor Sherin RodricksBusiness Development Manager Bhushan Bhad Art & Design Head Art & DesignVisualiserAssistant David King Co-designer Rohil RevatiShinganapurkarBadkas Marketing Manager Joseph D'souza Technical Consultants Prachi, Rajeshwari Technical Head Jacob Smile Assistant Technical Head SME-SMO Executive Gemson Digital Marketing Manager Alina Sege Assistant Digital Marketing Manager Renuka Kulkarni Copyright © 2022 Insights Success Media and Technology Pvt. Ltd., All rights reserved. The content and images used in this magazine should not be reproduced or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without prior permission from Insights Success. Reprint rights remain solely with Insights Success. Follow us on : www.facebook.com/insightssuccess/ www.twitter.com/insightssuccess Corporate Ofce Insights Success Media Tech LLC 555 Metro Place North, Suite 100, Dublin, OH 43017, United States Phone - (614)-859-2600 Email: info@insightssuccess.com For Subscription: www.insightssuccess.com We are also available on : RNI No.: MAHENG/2018/75953 Sales Executives Mark, Alice Amar Sawant Assisting Editors Trishika, Shrutika Paul Belin
Proppy is a smarter way to buy and sell real estate online. The company offers online property auctions, negotiations, tender, signing of legal agreements digitally, and streamlining the property transaction online.
MaxSold connects sellers to an existing pool of interested bidders and buyers.
Classic Car Auctions is making auctioning specialty in vehicles since 2010. Through its personal and ‘full service’ approach, auctioning and bidding on classic cars got easier.
Spink & Son are an auction and collectibles company known principally for their sales of coins, banknotes, stock and bond certificates and medals.
Hannah BusinessBrianCo-FounderWalkerLambrightDevelopmentDirectorMiraAdusei-PokuCOO Team teamauctions.comAuctions
Shipshewana Trading Place / Shipshewana Auction Inc. is a destination in Indiana’s Amish Country famous for hosting the Shipshewana Flea Market. It is the Midwest’s Largest Flea Market with over 700 vendors.
Team Auctions serves Western Canada's industrial and construction equipment, farm sales, real estate and auction industries handling all types of sales.
Taco
Scarlett
OnlineBarryMarketeerGordonFounder Shipshewana Auction & Flea shipshewanatradingMarketplace.comSpink&Sonspink.comProppyproppy.co.nzMaxSoldmaxsold.com
BVA auctionhouselondon.co.ukclassiccar-auctions.comClassicbva-auctions.comAuctionsCarAuctionsAuctimauctim.comBertolamiFineArtbertolamifineart.comAuctionHouseLondon
Corey Sekura and President
Christophe Moyersoen CEO and Founder Matassi Media Manager Valk Van Der Pluijm
CEO
BVA Auctions is a European marketplace in e-commerce. It has 140,000 online lots every month with dormant inventory, returns, overstock and business closures.
BidderManagerMarketing Max
Featuring CompanyBrief
Andrew Binstock and Auctioner
Auctim is an international auction house network. It is the largest online auction platform connecting buyers and sellers in over 160 countries.
Social
Director
Auction House London has residential and commercial property auctioneers servicing London and the rest of the UK.
At Bertolami Fine Art, people take part in auctions where they can bid, buy and collect modern or contemporary art, old masters, jewelry, antiquities, watches, coins, and medals.
COVER STORY
Corey Sekura Chief Execu ve Officer and President Team Auc on
It’s experienceconsignmentbuyerever-expandingpopulationandeasy-to-executeandbuyingwillcontinuetogrowthiscompanyinthefuture. Equipment – Real Estate - Consignment
Canada. Team Auctions was founded by Corey's parents –Wendell and Helene Sekura, in 1958 and is now owned and operated by Corey Sekura, his wife Lorena Sekura, and their daughter Tiffany LaRose.
Tdigitization. A clear shift can be seen from the industrial revolution to the new economic domination of information technology.
Team Auctions is one of fastest-growingtheauctioncompaniesinCanada.
Team Auctions, also known as Sekura Auctions, is one of the fastest-growing auction companies in Canada, servicing off-site and on-site, real-estate, industrial, and farm auctions. This company has been operating for over 60 years with great achievements.
The online auction platforms have made everything possible and easier for people today, from reaching out to the most buyers to selling different assets for the best prices in the shortest time.
Today, digital technologies have emerged as a major player in shaping the future. An excellent example of the same is the phenomenon called e-auction portals.
This edition, The 10 Most Promising Online Auction and Bidding Companies, emphasizes the companies that have leveraged the capabilities of innovation to deliver fascinating new ways of auctioning. A prominent name among those companies is Team Auctions
Since 1965, Team Auctions has had locations throughout Western Canada, with the head office remaining in Drayton Valley (approximately an hour west of Edmonton, AB). For over 20 years, Team Auctions has promoted online bidding and, since the start of the COVID-19 pandemic, has converted all Real Estate and Equipment Auctions to an online timed format. Team Auctions can design an auction proposal to fit any client's needs and is not bound by a rigid structure (which doesn't work for all sellers). This
In the following interview with Insights Success, Corey Sekura , Chief Executive Officer and President at Team Auctions, briefed us about the company's global ascension, his opinions on the present, and his vision for the future.
he 21st-century is blessed with innovations and
Team Auctions is an original family-owned 'live and online' auction house that currently intensively services Western
Team Auctions started as a farm equipment, real estate, and cattle auction company. Over the past 60 years, Team Auctions grew, expanding livestock sales to three locations and selling over 250,000 heads annually. The livestock divisions were sold, and the focus was put on Real Estate and Equipment Auctions.
Why TEAM Auction?
The 10 Most Promising Online Auc on & Bidding Companies
In 2003, Corey and his wife Lorena purchased Sekura Auctions from his parents, becoming proud owners of Team Corey'sAuctions.honesty,
Corey Sekura grew up in a family of auctioneers. His parents – Wendell and Helene Sekura, his three brothers –Tim, Ron, and Travis, and two sisters – Cherry and Tania, are all licensed auctioneers or have worked in the auction
Ÿ Experience - With over 60 years of experience in the auction business, Team Auctions' stability and reliability in representing assets provide their customers with a trust that not all auction houses can provide.
flexibility, along with the company's intensive marketing, procedures, and service model, makes Team Auctions very successful in the industry.
transparency, integrity, and adaptability, along with his work ethic, leadership skills, and intense marketing knowledge have vastly contributed to the success of Team Auctions.
Coreybusiness.gained
Talking about unique offerings of Team Auction, Corey Sekura elaborated that Team Sekura Auctions' continued growth comes from three aspects:
Ÿ
his Auction License at the age of 15, being the youngest in his graduating class to do so. His entire life has been working in auctions before working his way up to manage them.
Ÿ Continued advancement – Team Auctions prides itself on being a leader in the industry. From being one of the first modern-era auction companies to selling real estate
Passion driven workplace
In the past, Team Auctions has provided 'Subject to Owners' and 'Reserved' Auctions. However, the business model now focuses on 'Unreserved' Auctions which allows for stronger buyer participation and, therefore, improved results for our sellers.
While technology has paved the way for fewer hands-on approaches in a lot of industries, Team Auctions believes that when liquidating assets, customers deserve 'boots on the ground' and the ability for human interaction, making it a more personal service that is becoming increasingly rare these days.
Team Auctions is an original family-owned live and online Auction House that currentlyWesternservicesintensivelyCanada.
The Inspiring Visionary
After high school, Corey received his degree in Business and Marketing (as did his daughter Tiffany) and has used his education and experience, along with his fortitude and common sense, to surround himself with a great team of employees that are a large part of the company's success.
Today, Corey's daughter Tiffany LaRose runs the company along with a strong management team who all have a lot of experience in the auction industry. In total, Team Auctions has approximately thirty-seven employees, all of whom are dedicated and keen on doing all they can to help in the company's ongoing success.
Sharing his motto, Corey says, "We are first and foremost more of a marketing company and secondly an auction company because if no one knows what you are selling, it won't sell well."
Dynamic offerings
“Teamcompanies.”Auctions'
Ÿ Adaptability - Team Auctions' willingness to adapt to any situation as well as its solid business model, allows us to design and execute successful auctions. This can be any scenario from selling unique assets, real estate, and livestock to location challenges, on and off-site auctions, leases, and many more.
Opinion that matters
Sharing his vision on how the inclusion of technology in the auction world is impacting all the stakeholders of the market, Corey says, “Technology has absolutely changed the auctions industry and Team Auctions has led the auction industry in technological advancement with online bidding, marketing, and logistics.”
The future holds progress
Overcoming adversities
“My advice to young auction entrepreneurs would be to learn the industry through experience, be well-versed in the rules and regulations of our industry, and most importantly, always operate with honesty and an incredibly hard work ethic. This industry can be exhausting and stressful, but it can also be exhilarating. Manage yourself well,”he stated.
When asked about his advice to budding entrepreneurs who aspire to venture into the auction and bidding industry, Corey said, “Team Auctions currently sits on various auction associations and committees, and I see a lot of new online auction companies popping up everywhere.
Team Sekura Auctions has adapted to many challenges in the past and will continue to adapt in the future. Whether it be auction legislative changes, livestock disease (such as B.S.E disease – commonly known as Mad Cow Disease), technology, and now COVID-19, Team Auctions have always and will continue to use common sense, adaptability, and endurance as its keys to deal with any situation.
Currently, the auction industry is trying to adapt live auction legislations into online laws that currently don't exist.”
“Team Auctions is one of the fastest-growing auction companies in Canada. Its ever-expanding buyer population and easy to execute consignment and buying experience will continue to grow this company in the future,” he concluded.
We asked Corey how he envisions scaling his company's operations and offering in 2022 and beyond, to which he said, “Team Auctions continues to apply our auction model to our incredible growth in the auction industry. The company's growth across Canada is based on building and adding experienced team members, more locations, and acquisitions of smaller 'similar minded' auction
latest acquisition has been Lambert Premier Auctions and Precision Auctions in British Columbia, an elite real estate auction company that will increase the quality of Team Sekura Auctions real estate division and expand its market share in all auction asset liquidations in British Columbia and Western Canada.”
“The presence of COVID-19 has really forced consumers to join the world of technology regardless of experience or preference in all facets of life. The combination of Team Auctions' already being technologically advanced and consumers becoming more engaged in online purchasing has exploded the size of audiences attending each auction and altered how each transaction is completed,” Corey Sekura added.
via auctions in the late 50s, Team Auctions has transitioned from live bidding to all online bidding, and broadcasting technology recognizing the importance of being a leader in all facets of marketing.
Enlightening upcoming entrepreneurs
Ÿ
Cordell Skinner, Drayton Valley, AB
“I wanted to send out a huge thank you to Team Auc ons for the awesome job they did on Saturday with the complete dispersal of Cor-Ex Vacuum Services. Their professionalism and the marke ng team was out of this world.”
"Thank you, Team Auc ons! From the first discussion of my farm sale to se lement day, excellent adver sing, machinery knowledge with set up and display, everything went well. Sale day far exceeded my expecta ons as to financial results achieved in a mely fashion. From start day to se lement day, thank you Corey and your team of professionals. All the best to you all in the future. "—Marc Beland, GATORS Lawn Care, High Level, AB
"The Team Auc on crew were efficient throughout the auc on prepara on, and they showed great respect for dad's equipment, tools, and other items. They were sincere and understanding with the family, and our concerns and specific details were addressed right away. The pace they set during the auc on gave the results we wanted. They did their job with the communica on and exper se we needed and were looking for. Great job and highly recommended!"—Audrey Nikiforuk and family Dwayne, Cindy, Terry, and Cliff
Appreciation of excellence
Team Auc ons conducts full-scale, broad-based adver sing campaigns and is proud to have won various awards in the past for excellence in adver sing as well as 'Best Marke ng Website.' It is also apprecia ve of the following tes monials from just a few of many sa sfied customers:
Barry Gordon Founder Maxsold
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A Promising Name in Online Auction and Bidding Space
of the internet among people have clearly given a great advantage to the e-auction portals. As a result, online auction platforms have made everything possible such as reaching out to the most number of buyers to selling different assets for the best prices in the shortest time.
T
These platforms are always required to stand at the forefront to offer full-fledged solutions to their clients besides trust, reliability, integrity, transparency, and
MaxSold's purpose is to empower buyers and sellers to extend the life of things for new generations to love. MaxSold solutions leverage technology to bring the benefits of an auction marketplace to homeowners when they go to downsize or have an estate to settle.
By reinventing both auctions and estate sales with a techenabled platform, anyone with a volume of goods to clear can enjoy a competitive, transparent, safe, and finite way to capture something for everything and virtually avoid the cost of disposal personally and to the environment.
and sellers to extend the life of things for new generations to love, Barry Gordon founded MaxSold. MaxSold is evolved from a 50-year auction legacy. It firmly believes that sellers deserve transparency, ease of use, and profitability. The company also has a point of view that sellers should not have to be a technology expert, marketing expert, or logistics expert to sell their goods.
Please describe MaxSold in detail.
Eventually, consignment shops, antique stores, estate buyers, and many 'estate sale' companies use MaxSold regularly to sell extra products, thereby providing a mix of options for buyers and sellers.
Eventually, consignment shops, antique stores, estate buyers, and many 'estate sale' companies use MaxSold regularly to sell extra products thereby providing a mix of options for buyers and sellers.
The 10 Most Promising Online Auc on & Bidding Companies | April 2022 www.insightssuccess.com17
As the value of household contents declined and the cost of providing professional solutions increased, homeowners faced poor alternatives to clear the goods that often missed out on value, pushed too much into landfills, and were vulnerable to security issues.
Onesatisfaction.suchleading platform in the online auction and bidding space is MaxSold. With an ambition to empower buyers
oday, for a business to beat the competition and achieve great success, e-auction and bidding play a vital role. It benefits both, buyers as well as suppliers by streamlining the procurement process. It also saves time and allows smaller businesses to compete in the Theprocess.availabilities
In the following interview with Insights Success, Barry Gordon, the Founder, sheds light on the company's journey, the current industry scenario, and his vision for the company's future.
Knowing what others did, helped reveal what they did not. There was a significant growing gap in the marketplace where average estate downsize homeowners were being abandoned by the auction industry for economic reasons.
Building for and at scale makes MaxSold a practical solution for the largest portion of the marketplace. At the same time, every seller wants their goods to have a good bidding audience, so investing in buyer marketing needs to lead to the actual income obtainable through commissions and fees.
What were the initial challenges that MaxSold had to overcome, and how did you pivot those?
The challenge from the beginning was to figure out how to deliver the benefits of online auction at scale, so it would be economical enough for everybody with a volume of goods a bit of time to use. Event auctions generally require a high dollar value threshold to finance the work that takes place.
MaxSold evolved from a 50-year auction legacy that started at the live auction and after testing all the hybrid options before settling into the most relevant way for estate and downsized clients to clear their goods.
What was your inspiration behind venturing into the auction and bidding space?
And while this process remains prevalent, it really doesn't help the average homeowner. The best buyer for your grandmother's teak dining set probably lives down the street rather than across the country. We wanted to build a product that simply allowed everyone to sell all their home contents fairly and quickly, so the house could be empty when the buyer moves in. Everything, from the lawnmower to the sterling silver, to those collectibles, can and is sold daily through MaxSold.
Auctioneers always faced the challenge of attracting both buyers and sellers but building a solid product across wide geography with very tight margins meant selecting markets, building momentum in those markets, simply saying no to some until later. MaxSold will serve every market in North America eventually, but the journey requires the discipline to build on a schedule.
What is the current scenario of the auction and bidding market?
5% of estates have the kind of merchandise most auctioneers can afford to serve other than a few valuable pieces. The other 95% need a relevant solution that will gladly sell everything in their home- and that is why MaxSold exists.
Online auctions, almost exclusively, began as item auctions – like eBay, where people sold one item at a time and shipped it to the buyer. As bandwidth increased, live auctions – where most 'real auction' merchandise was sold began to partner with online so local merchandise could be sold in front of a live bidding audience and simultaneously through internet bidding.
Barry Gordon, the Founder, is a second-generation auctioneer with 45 years of evolving industry experience selling everything from livestock to houses and everything in between. His experience also included being on the National Auctioneers Association and Auction Marketing Institute boards and getting to know professionals throughout the industry.
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People gain more comfort in online shopping and the wide range of alternative platforms every day. This trend will continue for every kind of merchandise. Buyers gain
Tell us about the featured person(s) and shed some light on their professional journey in the auction and bidding niche.
MaxSold connects previously enjoyed items directly from the client's home to the buyer, at the buyer's price! As MaxSold builds out a marketplace, buyers become sellers
Beingmarketplace.ethical
While MaxSold has a very small footprint in the equipment world, all auction buyers want good reliable photos and descriptions commensurate with the value of the product. Every auction platform needs to cultivate a relationship where buyers can become comfortable with the descriptions so they can decide confidently how much they are prepared to pay.
Tech evolves daily, and online auctions must remain current in the race to bring ease of experience to customers and clients alike. MaxSold enjoys diverse investor support and a board and CEO with broad expertise in online commerce, so understanding what's next and being able to fund the appropriate development and integrations are always on the
companies are continually raising the bar on customer convenience, which requires all players to be engaged in creating a great customer experience.
What can equipment buyers do to ensure proper preparation for bidding at an auction?
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has accelerated the online marketplace by forcing people to shop more from home. Online auctions easily evolved into safer pickup protocols than live events while allowing contents to flow into the community throughout our robust housing markets. As a result, online auctions have become ubiquitous across North America, if not the globe.
Bigradar.tech
What is your opinion on the adoption of modern technologies in the auction and bidding sector, and how is your company leveraging these modern technologies?
confidence and preference in one or more brands based on the relevance of that brand to the customer's needs, and the brand's ability to evolve with demand for frictionless commerce from their preferred brands.
and committed to transparency are staples in an unregulated industry. They also need to understand that the auctioneer must always attract both sellers and buyers in order to be successful.
What would you like to advise the budding aspirants who are willing to enter the auction and bidding niche?
Specialize in something and serve the customers and marketplace well. Product experts can easily take their knowledge online and use the platform to develop their own
COVIDtoo.
is the oldest industry that brings the products to the end-users; sometimes, consumers buy the products to fulfill their desire or out of necessity from the retail stores. But the industry has constantly been changing and adapting to technological advancements. Amazon is one of the retail giants, leading the growth of e-commerce and converting the consumer's preference from shopping in retail stores to online.
How did the Retail Evolve?
to Accenture's recent report, by 2025, the shopping on social media platforms will be expected to reach up to $1.2 trillion globally, which is three times more growth from the traditional e-commerce.
With innovative technologies, industries and corporates are revolutionizing themselves. It innates the changes that lead to global development, and most of the social commerce growth has been witnessed by countries like India and AccordingBrazil.
Revolution ing Retail ThroughSocial Commerce and OnlineAuctions
n the business world, Retail plays a vital role in increasing the sales and availability of products. A few years ago, the supply chain logistic process operated from manufacturer to distributor and retailer to end consumers, which was lengthy. The conventional method of selling the product has changed now. It has arrived on social media platforms and is mitigating the role of the Asintermediaries.weknow,Retail
This will prove to be a viable tendency to use online auctions to discover the lowest bidders to accomplish garments, shoes, and other merchandise orders.
no longer dependent on catalogs or sales associates to buy the goods, as they can select the products of their choice, check the features or reviews before buying
It is expected that the retail industry will bear more changes that will result in the growth of social commerce, where the consumers form a group to receive discounts from the suppliers.
But now, the retailers are also adopting new strategies to reach out to the customer by providing online and offline services. Today, the retailers have advanced to this mark, where the customers can't perceive the difference between online and offline shopping. Shopping is the most loving thing that people like to do; because they can buy anything from anywhere and complete the transaction from their mobile phones due to easy access to the evolved retail
Peoplemarket.are
I
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The retail industry evolved in the 18th and 19th centuries when there was a rise in metropolitan covered markets, specialty shops, and departmental stores. By the late 1800s, catalogs brought an opportunity to buy remotely, facilitating a hassle-free shopping experience.
As the telephone was invented, Montgomery Ward acknowledged the written orders through their mail-order catalogs and startled the norm of shopping from home. Rolling the ball in the computer age, the late 90s' witnessed the internet to view and buy products online. By the early 2000's retail combat depressed brick-and-mortar shops against online stores.
Transforming Industries | April 2022 www.insightssuccess.com21
• Chatbots
So, the utilization of Augmented Reality (AR) and Virtual Reality (VR) is a new social commerce trend that sets the demand-supply at the customers' might, where the customer can try or choose the products.
Chatbot engages more customers on the landing page of the websites, finding customers' requirements. It also improves the company's sales and customer engagement, retains the existing customer, and boosts the shopping experience.
We all know that Google is a search engine, but it is not only a search engine; it is also an online marketplace. The retailers get customers on their website through Google's organic and paid search services. If you want massive web traffic on your website, you can also pay Google and benefit from its paid search option.
Some social media platforms like Facebook, YouTube, Instagram, and many more make it accessible to shop the product directly from the ad posts.
- Madhu Guleria
Everyone uses social media platforms to connect and share messages and pictures with relatives, friends, and many more. But due to technological advancement, social media platforms are also getting advanced and using it for their business purpose.
As technology is upgrading every day, various industries are adopting technological advancements, providing their customers with the best goods and services.
them, and retailers can list their products to millions of people with retail apps.
• Social Media
Concluding Words
With the help of online auctioning and social commerce, the customers are getting a variety of choices while shopping. It also helps online retailers to retain their customers by presenting their products to the global market using social commerce and online auctions.
• Utilize more AR and VR
Every retailer can use online auctions and social commerce for their businesses by speculating that they have a platform with appropriate technology. Let's discuss a few online commerce platforms which can transform the retail industry.
Many people still hesitate to shop online; one of the main reasons is that they cannot anticipate a product according to their desire which is a big challenge for online retailers to sell apparel, furniture, and other accessories online.
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If your product brand is renowned in the market, and the customers are searching for your products or your website on Google, it will increase the rank of your website, which is known as organic search.
A chatbot is one of the best AI tools which helps in increasing revenue. It is specifically made to solve the customers' queries, which saves the employee time.
The retailer must optimize Google shopping and bring more online visibility to the product.
The 10 Most Promising Online Auc on & Bidding Companies
Proppy.co.nz
work has become easy with digitalization, where everything is done online. Even the auctions and bidding for properties are done online with zero chaos and accessible from any place that has Internet.
Many companies and agents associated with the real estate industry help people buy and sell properties through online and offline services. Proppy.co.nz. is one such website based in New Zealand, where people can buy and sell their property smoothly. They have reduced all the unnecessary costs that help their clients save a truckload of money with transparency.
Hannah, tell our audience about you and shed some light on your professional journey in the auction and bidding niche.
E buying a house or property some time or the other. The idea and the process of buying property are challenging. It includes saving money, finding a suitable property as per requirements, contacting the owners or realtors, negotiating the budget, and finalizing the Allpaperwork.thisold-school
My name is Hannah Walker, and I wear many hats! Mum, business owner, friend, teacher, nurse, referee, IT professional, wife, chauffeur, cleaner, laundry maid, and sales weapon - just to name of few of my daily hats!
Proppy.co.nz is not only a website but also a real estate platform allowing sellers and buyers to transact real estate in a safe and secure manner with the assistance of licenced real estate professionals. As such, we have incorporated rigorous systems and processes in the platform, allowing for the transaction to occur according to current Real Estate Authority rules, REINZ best practice, and the law. Our platform is innovative, and we believe we are one of the only companies in NZ or even the world which allows you to list a property online and then sell property online.
My business (my third child) Proppy.co.nz was born in an
Proppy.co.nz is a New Zealand-owned real estate agency established in 2015. Proppy has eliminated the need for the traditional brick-and-mortar offices, allowing us to reduce our costs and pass on the savings to our clients.
very individual on this planet has dreamt about
Hannah Walker, Co-founder of Proppy.co.nz. shared with us how her organization operates and how helpful it is to run a business online. Below are the highlights of an interview: Please describe Proppy.co.nz.
Proppy.co.nz is smart enough to buy and sell real estate. We have a safe and secure online platform that allows people to negotiate, sign sale and purchase agreements online, and hold online auctions. And the icing on the cake is that we only charge 1.75% + GST commission compared to competing agents who charge you approx. 3.95%.
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Hannah Walker Co-Founder Proppy.co.nz
auction room in Auckland when my husband and I were trying to upgrade our house and move into something bigger before the arrival of our first child. As most people have experienced, buying a property is a stressful time. As the auction was in full swing with my husband (Tyson) bidding, I went into labour.
What were the initial challenges that Proppy.co.nz had to overcome, and how did you pivot those?
Another challenge when we started was trying to get sellers to believe in our technology which was early for NZ'ers. They had to take a risk and trust that we could get the best price for their house using online auction technology. Hard work and perseverance got us through. We held our heads high and believed in our technology, and are proud of what we have achieved.
And so, in 2016, just one year after our son arrived (for the record - not in an auction room!), Proppy was born. Before I started Proppy.co.nz I had different sales jobs involving technology and have always been interested in new and innovative things. Creating the first NZ online auction real estate platform has been challenging but rewarding, knowing that we are making a difference in people's lives.
What was your inspiration behind venturing into the auction and bidding space?
We knew there had to be a better way, and so we got thinking. We did a whole bunch of research, looked at what was happening overseas, spoke to some super-smart people, and realised that this old-school way of doing business could, in fact, be taken online and could save everyone a whole lot of time and money.
Our main customer base, at present, is first home buyers and baby boomers. Our marketing and branding are uniquely designed to engage with that segment of the population. We use the usual marketing materials like all other real estate agencies such as signs, brochures, maildrops, TV, Radio, etc. However, we have a big focus on social media where we can target and retarget customers and create innovative campaigns to help us excel.
What is the current scenario of the auction and bidding market?
The real estate market is starting to change in NZ currently, and it is becoming more of a "buyer's market". There are more listings, and the banks have tightened up on their lending. Because these auctions are not as popular in the current market as to buy at an online auction, your buyers
My personal experience in buying and selling property inspired me, and I realised that the real estate industry needed a "shake up". My husband and I tried to buy numerous properties in Auckland and failed to be successful through the traditional auction method. There was no transparency in the industry. This was something we wanted to change. After going into labour in an auction, we decided online auctions were the way forward, and we started our journey into launching proppy.co.nz.
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When we started the business, we thought our easy-to-use online platform might appeal mainly to the people more familiar with online transactions and younger customers. As our marketing strategy developed and feedback from our customers started coming in, we realised that we appeal more to mature customers, especially people who have bought and sold properties already. It was a challenge educating them on the new way to buy and sell property, but we have overcome this now, showing them how technology and innovative ways of selling can get them great sale prices.
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Third-party auditors perform our Anti Money Laundering audits on a regular basis.
Our day-to-day accounts and performance are monitored through Xero, with a dedicated local accountant responsible for our business.
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All transactional deposits are held according to REA requirements with Public Trust-NZ Real Estate Trust , independently audited by third party.
All our buyers are educated about online auctions, the best strategies on bidding, and how to be successful at securing a house. We teach them how to use the auto-bid functionality and how important it is to bid strong to secure the house of their dreams! How-to videos and live demonstrations are provided by the agents selling the house so that buyers are prepared and know what to do during a live online auction.
All documents, including Listing Agreements and Sale and Purchased Agreements, are signed electronically online through another integrated partner, Secured Signing.
We also ensure that our vendors are protected by ensuring that the buyers create a login at proppy.co.nz and then verify their identity online to make sure we know who is bidding.
All users of the platform (Buyers and Sellers) are vetted and have their identities confirmed according to the Anti Money Laundering Legislation through an integrated third-party provider-www.cloudcheck.co.nz. This is streamlined and innovative.
Ÿ How is Proppy.co.nz leveraging modern technologies for auction and bidding?
Ÿ Once verified, clients can participate in listing their property or purchasing a property.
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What would you like to advise the budding aspirants who are willing to enter the auction and bidding niche?
need to be unconditional (escrow) to bid and buy property. This is becoming harder in this NZ market. It's cyclical, though, and this will change again.
It's a tough road when starting a new company, but at the same time, it is rewarding. Online auction technology is exciting, and technology is always changing. So, it's important to keep on top of "new" things coming to the market and being able to adapt.
Proppy.co.nz - Winners of the 2019 Digital & Technology Innova on Award (Westpac Tauranga Business Awards)
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Awards
Our online auction process is unique and innovative.
Finalist in the Outstanding in Innova on Award for Ignite Wanaka Business Awards.
What can equipment buyers do to ensure proper preparation for bidding at an auction?
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Monte M. Wya CEO AddingZEROS
As a business executive, management is handed to you along with your job title. A manager's job is to plan, organize and coordinate. Leadership, however, is a responsibility where managers innovate, challenge, and inspire their employees. You manage processes; you lead people.
As a manager, are you a leader? Leadership can be learned, and you should continue to grow as a leader through education and coaching. As an executive, you spend a lot of time and valuable resources training your staff on how to be managers. It is important to also teach executives how to be
A leader's daily routine is different –they focus on the big picture of the company, helping to inspire others through support and consistency. A leader shows appreciation to team members, gives awards and accolades when deserved. A leader also focuses on the personal development of each individual and team, working to foster the communication and feedback needed to make the organization
innovative company lies a charismatic leader who pushes and
Anyone in the organization has the potential to become a leader, but
Allleaders.growth companies must be training and development companies. Every person in your organization should have a personal development plan, including yourself!
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"Leadership creates passionate and focused people, management oversees processes, so the team is competent and productive." – Pulling Profits out of a Hat
In business, we need both leaders and managers:
managers must be leaders. A leader who cannot manage has a vision of where they want to go but no idea on how to get there. A manager who cannot lead is not able to build trust and create engagement within an organization to get to where they need to
understand the differences between management and leadership, think about the daily routines of the managers and leaders in your organization. Managers facilitate 1-on1's with their direct reports, creating clear expectations and holding their team accountable for meeting them. Managers also hold team meetings for direction and communication, revisiting and tracking progress towards quarterly goals. Lastly, a manager reviews the actions and results of each individual and team to determine their performance.
Within a business, we need both leaders and managers. Leaders inspire people to take action. Managers hold people accountable for those actions.
eadership and management are terms frequently interchanged within the workplace. Both concepts are interconnected, but they do not mean the same thing. By understanding the differences between them, you will learn the importance of leadership in management and how leadership development will allow you to be a better manager overall.
Togo.better
inspires his or her employees to be the best. As Steve Jobs was to Apple and Jack Welch to GE, great CEOs are known for more than their management skills. They offer a different approach outside the norm and motivate their followers to execute their vision to reach their business
Keys for leadership development:
Behindstronger.every
Executivegoals.
"Leadership is not about position. It's about action." – Pulling Profits out of a Hat
leaders instill a corporate culture in their organizations that encourage employees to stay engaged in their work. Employees are given recognition and are shown appreciation. By focusing on employees as well as the overall big picture, executive leaders help their people play to their strengths to reach their organizational goals.
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This auction is quite different from others, providing various offers to grab the attention of the buyers. It is probably for those customers who like bargaining while shopping or who have gambling preferences.
So,showpieces.wheredo
The Participants Objective!
• To Co-ordinate Mechanism
But technology or the internet never segregates anything; it pervades every industry from manufacturing to marketing. Moreover, the auction house has changed momentously and resulted in the technological potential of the internet
theHow & areChanging InternetTechnology AUCTIONS?
O
Online auction is nothing but bidding online for the price of products, art materials like paintings, houses, or antique you find access to these websites conducting these E-bayauctions?wasthefirst
As the trade object has a diverse context for auctioning, this segment will shed light on the participants' motives.
We have seen the auctions primarily in the movies, where the artist sells his art to the highest bidder. In such movies, we see a man standing on the stage and asking for highpriced bids to sell the products, which might be unique art, cricket tournaments, and much more.
The participants co-ordinate with a mechanism to increase the efficiency for establishing an equilibrium price of anything they are bidding on. It includes automation auctions among the software agents, auctions on power, and the auction for allocating telecommunication bandwidth worldwide.
till the last minute to bid. But now, the method is not preferred, so those who use the conventional system are known as "snipper bidders."
nline auctions have emerged to be a popular trend in the business world.
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and newscast auction brought a new and exciting journey for the bidders or auctioneers in the house, but it has a few ups and downs when technology changes.
The online auction has increased the demand and supply of
Anbidding.online
Snipper bidder was the one who had the agile internet, or else they sent two or more bids simultaneously.
• Social Mechanism to Determine a Price
The recent Trend - Online Auction!
player in online auctioning, and it has set the mindset of the people for online auctions. Other websites like WordPress provide the Woo Auction software for sellers and buyers to bid on products, where many bidders use the traditional bidding approach, like waiting
The things that are randomly available in the country, rare or traditional heritage, may initiate the auction and fascinate potential buyers. These auctions cater to larger audiences, bringing more exposure to the sellers or buyers.
• The Highly Visible Distribution Mechanism
As we all know, the internet and technology are changing the world rapidly; today, we can see technology in every industry, whether it is education, manufacturing, marketing, or Facilitatingauctioning.an
excellent platform for the buyers to bargain for the listed products, the sellers also receive the benefit from online auctioning. This has reduced the cumbersome process of the classical model and provided an opportunity for remote-based auctioning, providing a hassle-free experience while catering to the global audience.
Traditionally, whenever the seller puts an offer on any item, the seller has to wait for the lead to give the feedback, and sometimes the process of waiting takes time. But with the help of the internet and technology, online auctions surpassed the traditional approach.
Benefits of Online Auction
Nowadays, the buyer orders anything from the online shopping sites, and the products are delivered to their doorsteps; if you are a seller, you must be aware of the online selling process. Apart from online shopping, have you ever tried online auctioning? If not, you should know the benefits of online auctioning because it has been recognized globally as many corporates utilize digital Ifplatforms.youarenot
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Wrapping Up
The online auction provides opportunities for the sellers to bring their products and services to millions of prospects worldwide. The seller can list out their products and services from one corner of the world, and the buyer can prevail the products and services from another.
• Free from Geographical Restrictions
However, online auctioning helps the seller to get instant feedback, and with the help of it, they can make changes in the bid or the prices accordingly, without waiting for months altogether.
Online Auction
Online bidding completely eradicated traditional auctioning. In classic mode, an individual had to physically be present where the auction had been conducted, and sometimes the buyer didn't know whether they would buy anything in the auction.
• Captivating Deal from All Around the World
sure about online auctioning, these benefits may help you clear your doubts about the online auction.
• Quick Feedback with Online Auctions
- Madhu Guleria
The online auction received an excellent response worldwide, and it has inevitable and alluring deals from all over the world. You may feel bliss when you get to know that the out-of-budget item you desire is now available at a meager price. The cost of an item reduces because there are no middlemen, agents, suppliers, or brokers involved to increase the cost of the items.
Online auction also prevents the buyer from undue exploitation and features the aspects of equality and decency.
Jane Peyton Founder School of Booze
JanePeyton
am an accidental entrepreneur who built one of the world’s most unique companies by not following the rules of business. Having my own company was not something I thought about when I entered the job market after graduating from university. Several careers later as a PR executive, TV producer, and journalist I felt dissatisfied that I was spending so much of my life working really hard for the benefit of a corporation and that I was not really doing what I wanted to do. So what did I want to do? I wanted to work at something that gave me great satisfaction and that I excelled at, where I could use my personal as well as professional skills in a job where each day would be different, but more than anything I wanted to work in an organisation that treated employees with kindness, offered flexible working hours, cared about the issues that I did, and had a company culture of consideration for others. A company that ticked those boxes did not exist in real life so instead of just dreaming about this mythical business entity, I founded it! School of Booze offers events, education, consultancy, speeches, copy writing, London (UK) pub tours and so it has multiple income streams. This diversified offering was a saviour during the pandemic when all my inperson group events and training ceased.
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As an accidental entrepreneur, I have done things my way in founding School of Booze to suit how I want to work, and how I want to work with others. I have created a niche and succeeded in it. Nascent entrepreneurs, and people considering starting their own company but thinking they have to conform to business norms might be interested in what works for me.
I
Not only do I not have employees, but I do not have a board of directors or stockholders either so I can make decisions
The Accidental Entrepreneur
I often think about the tyranny of the 9-5 model of working and wonder when people who work that way manage to get to the dentist, do the shopping, and other necessary activities. There is something else about 9-5 working. Within those hours people may not be productive or at their peak when an employer expects them to be. Some employees may flourish at other times of the day like I domy most productive work hours are between 2pm and 9pm. If their employer permits them to do the work in the hours that suits them then the employee is likely to be more productive. I realise that not all jobs and companies can be flexible and 9-5 might be non-negotiable in many cases, but as long as the work gets done, the employer that can offer that flexibility and treats their staff as humans with lives outside of their job will have a happier work force.
Graduates of business school may hold their hands up in horror if they looked at how I run the business and my motivations, but happiness, integrity and respect for the people I work with is more important to me than relentless profits. I purposely keep the company structure and my way of working flexible, including not having employees, but instead hiring people on a project-by-project basis with the expertise I need. They are content to work as contractors as it gives them flexibility too. My job has never been 9-5 and neither is the schedule of the people I hire. Unless there is a specific deadline, they do the work in the hours that suits their personal commitments.
Jane Peyton Biographical Details for Box-Out
the UK’s first accredited Pommelier (cider sommelier) and Britain's first Beer Sommelier of the Year. She is a former Imbibe Magazine Drinks Educator of the Year. For her beer work she was awarded a Lifetime Achievement from Britain’s Parliamentary Beer Group, and has won several other professional awards.
quickly, accept or decline opportunities, use my instinct as to what is best for the company, and operate in a way that is true to my principles. Look away now if profit and year-on-year growth is the most important factor in business because it is not for me. Being kind, having fun, and offering the best experience possible for the staff and clients I work with is what motivates me.
Being a small-business owner does not suit everyone, neither does my attitude to doing business, but for anyone considering starting their own enterprise I say do it! And do it in the way you want it to be. Inventing a niche and not following the traditional methods of running a company has not stopped me from being recognised and rewarded for my business acumen. Since I founded School of Booze in 2008 I have won numerous awards, but two in particular stand out for me. In 2021 I was a finalist in the Great British Entrepreneur Awards, and in another competition School of Booze was included in the Top 100 Small & Medium Enterprises in London & South-East England. Starting my business was against all odds and the newly graduated me looking into the future at the mature me and seeing the accolades would not believe it. Building and expanding School of Booze gives me so much joy and knowing that I am doing it in a way that matches my values makes me very content.
My first employer after graduating from university was highly unpredictable, would regularly shout, and acted unreasonably. It was such a stressful atmosphere to work in but I thought that must be what a high-powered job entailed. Back then an employee’s mental health was not a consideration, it is now, and rightly so. No job should make a person feel ill. It was only when I left and found other employment where all was calm that I realised it was not normal to feel highly stressed in the office so I made the pledge never to work in nerve-jangling situations again and this informs the way I do business today. I have seen how friends employed by corporations have become stressed by the company culture, the inflexible hours, the pressure to reach targets, and if they do reach them, the targets are increased the following year. As a business owner I am fortunate to have none of that, but it was an active choice I made. Most people spend the majority of their waking hours commuting and being in work so it should give them enjoyment.
For me kindness, empathy, and consideration are essential qualities in business. As the saying goes you get further with honey than vinegar. I pay above the market rate for staff (and I pay student interns although many companies do not) because the market does not give value to those intangible and priceless aspects of a person that cannot be monetised – their personality, their essence as a human, their loyalty. I appreciate what the staff I hire do, how they do it, their skills, their reliability, and the pleasure it is to work with them. In any case most people deserve to be paid more than they already are! I also ensure that invoices are settled within a day of receiving them. Companies (usually big corporations) that refuse to pay invoices for months for goods and services already provided are using suppliers to subsidise their businesses and that is pure exploitation. Imagine if that person who enforces the delayed payment of invoices paid for a meal in a restaurant but did not receive the food for months?
Jane Peyton is an award-winning drinks educator, writer, broadcaster, pub expert, and public speaker. She is the founder of the School of Booze – a training, education, events company, and consultancy specializing in alcoholic Janedrinks.was
Jane is the author of several non-fiction books including ‘Drink: A Tippler’s Miscellany’, ‘Beer o’ Clock’, ‘The Philosophy of Gin’ and ‘The Philosophy of Beer’.
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