Online real estate auctions gaining traction in SA
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Online real estate auctions are gaining traction in South Africa. The Chief Executive Officer (CEO) of Galetti Corporate Real Estate, John Jack, tells the OFM Business Hour that South Africa is only now following in the line of more developed nations like the United States of America and the United Kingdom whose real estate auctions have long gone online, in light of the sizes of those countries. SA is now following suit in part because of Covid-19. Jack assures sceptics that online auctions are quite safe, and no transactions are taking place on the auction portal, just bidding. He gets into the benefits of online auctions in the conversation below.
