Online auctions in NZ: How to sell your house without the paperwork or the hefty fees

An enterprising Kiwi couple decided there must be a better way to buy and sell property in New Zealand without going through real estate agents, not long after Proppy was born.

Proppy is an online platform and app for people to buy and sell property with a flat commission fee.

Hannah and Tyson Walker came up with the idea after struggling to buy a house at auction two years ago.

"I was down in the auction rooms with lots of people and lots of pressure and I went into labour.

"My husband was like, there's got to be a better way to do this. It was very stressful at the time," Ms Walker told TVNZ1's Seven Sharp.

From this Proppy was born and a new way of buying and selling houses, where buyers can make an offer online and avoid agents running back and forth with forms to be signed late at night.

Auctions are online too, so no more neighbours checking out the size of your windfall.

So what does the Real Estate industry make of the newcomers to the property game?

"You may save money on your commission, but at the other end you might not get the best price for your property.

"So it might end up being a significant amount you get if you use an agent," REINZ Chief Executive Bindi Norwell says.

Seven Sharp meets a couple who’ve moved house buying entirely online. Source: Seven Sharp