In 2005 the directors of PRDnationwide Newcastle began re-modelling the way auctions are conducted to make it friendlier on all parties.
Through extensive consumer research it was discovered that many buyers had a fear or dislike of standard auctions and therefore would avoid them. This may have been from a negative experience for them or a friend in the past, or a sensationalised media story based on a minority. We found this unfortunate, knowing how transparent a well run auction could be. We also knew that it would not be best for the vendors
of a property to sell using a standard auction system if some buyers were turned off by the process.
Rather than give up on such an effective process altogether like many agents, we went about addressing the main areas of concern to create a better way to transact property.