How is RFID Technology Changing Online Auctions?

E-commerce has grown up to a point where you can buy pretty much anything you like online. Cars, food, furniture – nothing seems to be exempt, particularly property. Today, it is possible to buy a house, apartment or commercial property by using your smartphone, tablet or laptop. However, it can involve a little guesswork, but that could be about to change.

One of the main reasons why is the use of RFID technology (radio frequency identification). It is used to tag individual items using a wireless connection and to track their movement from the shopping cart to the buyer’s front door. For auctions of all kinds, this allows the buyer to process payments more quickly as well, something that retailers are gradually making use of.

Around the Home

For property auctions, RFID tags can be placed in parts of the building where bidders want to explore. In buildings with multiple units up for auction, online bidders can register their interest in whichever one they like with the click of a mouse. Then, their bid will be registered and will stand until a higher offer for the lot is made.

RFID technology is changing the face of online property viewings too. Anyone entering into an online property auction with Allsop can view all areas of a home without having to view it in person. This is possible because the tags are embedded in furniture, walls and other parts of the property.

The tags also work when viewing a property in person. This is possible because if they have a smartphone to hand, they can place a bid by scanning the tags placed on the property. This saves a lot of time for a bidder that would otherwise be spent visiting an auction house.

Working with Smartphones

Smartphones have played a massive role in changing online auctions. The NFC (near field communications) technology used to facilitate contactless payments allows people to place a bid on any auction lot by going to the nearest RFID tag and swiping. In doing this, the bidder doesn’t even have to enter an email address, password or pin number.

For any future property auction where you want or need to visit in person, make sure to bring a smartphone and have an auction app ready to use. This will save time and make the bidding process far quicker and easier.

Thanks to RFID tags, they can also get information about different parts of the building they want to buy. This will come up on the bidder’s device, giving details about dimensions and, more importantly, the asking price.


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