Sydney, Jan 6: “Auction Snitch” is a revolutionary app that has recently been launched in Sydney, with plans for a national rollout.
This application is transforming the way property buyers and sellers access information in the real estate market.
Collaborating with Domain for property listings, Auction Snitch provides a unique platform where users can anonymously share or “snitch” on real-time details such as property price guides, sale prices, and auction outcomes, information often withheld by agents to gain client contacts.
The app is the creation of Tori Huxtable, a North Shore real estate specialist, and Tamsin Lapointe, an experienced tech project leader.
Their goal is to democratize the property buying process.
Lapointe highlights the struggles in navigating Sydney’s property market, where buyers typically spend nine months and view over 300 listings.
Auction Snitch addresses the critical issue of unlisted prices, a major hurdle for buyers, by leveraging community-sourced information to improve market transparency.
The app tackles another market challenge: underquoting.
In NSW, while it’s illegal to advertise misleading prices, with a fine of $2,200, some agents still operate in gray areas, causing buyers to pursue unaffordable properties.
Auction Snitch aims to end this secrecy, offering transparency in price and sales history, thus saving buyers from unnecessary expenses on reports and conveyancing fees.
Sellers also gain from Auction Snitch by obtaining a more accurate understanding of their property’s value based on recent sales, aiding in informed decision-making for their next steps. Huxtable emphasizes the app’s role in revealing concealed auction results and prices, enhancing transparency for all market participants.
Auction Snitch simplifies the property searching process by using the collective power of users to share information, empowering buyers, sellers, and even real estate agents who appreciate the transparency it brings.
The app helps agents price properties accurately and encourage user participation through anonymous information sharing.
Since its initial release in August, Auction Snitch has received an overwhelmingly positive response, with over 42,000 contributions.
The app’s features include searchable listings focused on upcoming and recent auctions, an anonymous platform for sharing market information, a voting system to validate the accuracy of shared data, comprehensive tracking of a property’s sales campaign, and personalized bookmarks for easy tracking of preferred listings.
The app is free to download, offering unrestricted search and sharing capabilities, with the option for a paid subscription for extended access to a property’s sales history.
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