Estate agents Raine & Horne will live-stream the auction of a Sydney terrace on Facebook and video streaming app Periscope, in what they claim will be a first for the Australian real estate industry. 
The one-bedroom apartment on Nickson Street in Surry Hills, with a $700,000 price guide, will go to auction on   May 21 through Jason Ballo of Raine & Horne Surry Hills, with Raine & Horne's James Pratt to carry out the auction.
Remote viewers of the live-stream won't be able to bid directly but can follow the progress of the auction online, and could potentially direct a nominee who is present to place bids.
They can also post comments during the auction.
Mr Ballo told the Australian Financial Review live-streaming was the future of auctions and property inspections.
"This historic auction is a preview of where technology is headed," he said.
Mr Pratt said: "Periscope [owned by Twitter] as a real estate tool is taking off in the US, as it allows buyers and investors to view a property in real time, which can suit those who find it difficult to visit a property in person.
"For example, if your partner is away on business in Melbourne you can still stream the inspection or auction of a property in Sydney to them through Periscope, and chat with them about it on Facebook.
"This takes away the old-fashioned approach of viewing a property and taking some photos, which you email to your partner or colleague before chatting with them about the house or apartment."
Apart from the auction, Mr Ballo said he also planned to conduct a live-stream inspection feed, where he will take buyers through the house and speak about its features.
For vendors, Mr Ballo said the benefits included a greater target audience and more engagement with buyers, potentially meaning a better result at auction. The use of live-streaming is part of the growing role technology and social media is playing in the real estate industry.
Start-up realAs.com has become a major disruptive force in Melbourne auctions, predicting prices more accurately than some agents, using a finely tuned algorithm and identifying agents that routinely underquote.
Twitter and Facebook have become popular sites for vendors to promote their properties to a wider audience.
Mr Ballo said he had chosen the Surry Hills property for the first live-stream because it was expected to sell to a tech-savvy demographic.