Attracting buyers using online real estate auctions

We are hosting a free webinar on using Real Estate Auctions as part of your marketing strategy.

It will be held next Tuesday Dec 4th at 8:00 p.m. CST 9:00 p.m. EST and we will be showing you how you can use a real estate auction to attract buyers to any property. To get more details and register click the link below.

Register Now


Hope you can make it.

5+ acres - zoned commercial - Freeport, FL

REAL ESTATE INTERNET AUCTION

** Starting Bid is $800,000 **
** Auction Ends Dec 05, 2007 8:00 PM CST **
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GREAT INVESTMENT POTENTIAL -
Commercial / Industrial ~ Commercial / Industrial
9663 Highway 20
Freeport, FL 32439
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Bedrooms:
Bathrooms:
Square Footage: 4000


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For more details visit:
http://www.reiauctions.com
AuctionID: 100247
or call Southern Auction Service at 850-502-7763

Putting a house on the auction block

I just found this very interesting article today on CNN Money.com

NEW YORK (CNNMoney.com) -- As more and more people get frustrated with the sluggish housing market, people who want to sell their homes are looking at a different tactic...auctioning off their home. We'll tell you what you need to know if you're thinking about putting your home on the auction block.

According to the National Auctioneers Association, residential real estate auctions are on the rise. From the time the group has started collecting statistics in 2003, growth of residential real estate auctions have grown almost 40 percent.
To read the rest...

Interested in learning more? Pick up our FREE report: 7 Benefits of Online Real Estate Auctions

Auctions Catch On As a Way to Sell Houses

I just found this article today on CBS News. Very interesting!

(CBS) When the real estate market is as slow as it is now, homes can sit on the market for months.

But auctions, both online and in-person, are emerging as a fast sales option. In fact, an online auction could even sell a house in minutes!

Early Show financial guru Ray Martin explained how home auctions work, and when they can be a good choice for buyers and sellers, on the program Thursday. To read the rest...

Interested in learning more? Pick up our FREE report: 7 Benefits of Online Real Estate Auctions

Online Real Estate Auctions - A New Marketing Strategy

In most areas of the country, it’s a great time to be a real estate investor looking for property to buy. Investors have plenty of wholesale deals, rental properties and land deals to choose from. Sellers and real estate agents are struggling to get their properties noticed. It’s not surprising that more sellers are turning to creative ways to market their properties. One such creative strategy is an online auction.

While a live auction is still a great way to sell, an online auction is much easier to coordinate and less expensive. They still require preparation, marketing and sometimes holding open houses, but a growing number of auction sites make the process easier. Sellers are finding that marketing their property through an auction gives them an advantage over everything else on the market. When driving in your neighborhood what stands out more, “House For Sale” or “Real Estate Auction”? In my neighborhood, “Real Estate Auction” wins every time. An auction sparks people’s curiosity and they want to see what it’s all about. It gets interested buyers and investors into the property.

Here are some more advantages for sellers who are marketing their deals through an online real estate auction:

• Auctions create competition among buyers and sometimes the auction price can exceed the price of a private sale.

• An auction generates excitement and heightens buyers interest.

• An auction gives the property the most exposure in the shortest period of time and accelerates the sale.

• The auction process provides 3 opportunities to sell - before, at and after the auction.

• Auction brings interested buyers to a point of decision - they must act now or lose an opportunity to purchase the property.

• The seller controls the auction process - they plan and select the date they want to sell.

• The seller sets the terms and conditions of the sale while maintaining control of the property throughout the auction.

• Auctions take the seller out of the negotiation process.

• Auctions are an aggressive, advanced marketing program that increases potential interest in and awareness of a property.

An auction, whether online or live, helps a property stand out and that’s the goal in any marketing strategy. Auctions are a very powerful, effective strategy, and especially appealing in a slow market.

If you are selling any real estate, make sure you get educated and involved with online real estate auctions.

Interested in learning more? Pick up our FREE report: 7 Benefits of Online Real Estate Auctions

Benefits of Auctions - Real Estate Agent View

Here are some of the benefits of Real Estate Auctions from a Real Estate Agents point of view.

• Agents have more sales options available instead of just MLS listings.
• Agents can develop their own market niche, by offering auctions.
• A property can be sold relatively quickly and sellers know the day it will close.
• Auctions get a property noticed by many interested people and will generate a list of ready, qualified buyers.
• Auctions bring people in and they will notice the agents other listings, not just the auction listing.
• Successful auctions will result in referrals.
• Auctions can be marketed as events to generate excitement and interest in a property.
• Auctions give buyers a sense of urgency to act.
• Auction buyers are usually pre-qualified and the highest bidder's deposit is non-refundable.

Interested in learning more? Pick up our FREE report: 7 benefits of Online Real Estate Auctions

The benefits of Real Estate Auctions - Seller's view

These are some of the benefits of using an Auction from the sellers point of view

• Auctions create competition among buyers. Consequently, the auction price can exceed the price of a private sale.
• An auction generates excitement and heightens buyer interest.
• An auction gives the property the most exposure in the shortest period of time and accelerates sales.
• The auction process provides 3 opportunities to sell - before, at and after the auction.
• Auction brings interested buyers to a point of decision - they must act now or lose an opportunity to purchase the property.
• Auction is a true market forum.
• The seller controls the auction process - they plan and select the date they want to sell.
• The seller sets the terms and conditions of the sale while maintaining controld of the property throughout the auction.
• Auctions eliminate numerous and unscheduled showings by having agreed open house inspection times.
• Auctions takes the seller out of the negotiation process.
• Auctions are an aggressive, advanced marketing program that increases potential interest in and awareness of a property.
• A seller is able to obtain liquidity, free up capital and move on to other investments or property decisions.

Interested in learning more? Pick up our FREE report: 7 benefits of Online Real Estate Auctions

Panama Beach lot, forced liquidation - bid on line

REAL ESTATE INVESTOR ONLINE AUCTION

** Starting Bid is $79,900 **
** Auction Ends Sep 16, 2007 8:00 PM CST **
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Panama City Bch Lot, Forced Liquidation!
Land ~ Land
507 Wisteria St.
Panama City, FL 32409
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Bedrooms:
Bathrooms:
Square Footage: 0


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For more details visit:
http://www.reiauctions.com
AuctionID: 100205
or call Preferred at 1-800-811-9116

Forget the Bank - Owner will Finance

REAL ESTATE INVESTOR ONLINE AUCTION

** Starting Bid is $7,000 **
** Auction Ends Sep 05, 2007 9:15 PM CST **
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FORGET THE BANK - OWNER WILL FINANCE
Single Family ~ Needs Rehab
6507 Corbitt
University City, MO 63130
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Bedrooms: 2
Bathrooms: 1
Square Footage: 827
After Repair Value: $85,000
Estimated Cost of Repairs: $35,000


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For more details visit:
http://www.reiauctions.com
AuctionID: 100208
or call LJimerson at 314 402-9793

Do Online Real Estate Auctions really work?

“Do online real estate auctions really work?” is a common question from sellers who are new to using online auctions to market a property. The answer: Yes, they do work! If they didn’t work, we would be seeing a decline in online real estate auctions and instead we are seeing an increase.

Prior to the popularity of the Internet, only live auctions were available. A live auction is successful in drawing attention, but they require coordination, advertising and auctioneer fees. It’s not uncommon for a seller to pay thousands of dollars upfront and it doesn’t guarantee a property will sell. Live auctions are still successful today and there will always be a place for them.

Today, the Internet is changing the real estate auction industry. An online auction can be just as successful in drawing attention and doesn’t require as much cost upfront. The success will still be related to how well it is advertised and whether it’s a good deal, but an online auction is an easier alternative and available to more sellers. In today’s market where properties are not selling as fast, sellers are looking for more options. As a result, more sellers are turning to online real estate auctions as a solution.

Another reason that online real estate auctions are becoming popular is because buyers are more comfortable bidding online. No longer are online auctions just for “as-is”, sight unseen properties. Some sellers are helping encourage bids by giving access to the property, allowing inspection periods and/or providing inspection reports. Another reason for their popularity is that it’s easier to bid than to write up a sales contract. All negotiation is automated and done on line.

The winning bid on an online real estate auction site like EBay.com or REIAuctions.com is similar to a verbal commitment. It doesn’t become binding until a sale contract is signed. That doesn’t mean a bidder should not be serious about following through, but it does allow them to submit bids without worrying about getting “stuck” with a property if a problem is uncovered.

However, it’s now a buyer’s market and that’s changing how online real estate auctions are run. For example, more and more auction listings provide buyers a way to view a property and do their due diligence before bidding. As auctions are still the best way for a seller to get their property noticed, it’s not a surprise that more sellers are combining that marketing power with flexibility to make their property more appealing.

An auction is still the best way to market or find a deal on a property. As buyer confidence grows and the online Real Estate auction success continues, more sellers will move to online auctions, changing the way real estate is bought and sold for everyone.

Interested in learning more? Pick up our FREE report: 6-ways to benefit from Online Auctions

Multiple offers - A sellers dream

As a seller, there isn't anything better than receiving multiple offers on your property. Having a property that is wanted is a great feeling. The fun part of selling by auction is that it stimulates buyers to bid against each other. Multiple interested buyers translates into multiple offers and when automated online, it's fair to all buyers involved. This is just one of the many reasons real estate internet auctions are becoming so popular.

Interested in learning more? Pick up our FREE report: 6-ways to benefit from Online Auctions

Will an online auction work for my property?

I get this question a lot. The best way to think about an online auction is as a different marketing strategy. Do they work in attracting interest? Yes! Will they help you find a buyer? Sometimes. Will they help a property stand out? Yes! Is it as easy as posting it on an auction site? No. It takes a planned effort, marketing and a little time, but it can be well worth it. However, if you think about it, what other things can you do that will make your property stand out and attract attention like an auction does?

Interested in learning more? Pick up our FREE report: 6-ways to benefit from Auctions

Land development - St. Peters, MO

** Starting Bid is $400,000 **
** Auction Ends Jul 29, 2007 8:00 PM CST **
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DEVELOPMENT READY TO GO IN ST. PETERS!!!
Land ~ Pre-Construction
Jungermann Rd. and Sutters Mill
Saint Peters, MO 63376
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Bedrooms:
Bathrooms:
Square Footage: 125017


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For more details visit:
http://www.reiauctions.com
AuctionID: 100198
or call Mickie D. Ball at 314-369-6660

New Auction - Duplex with tenant - $25K

** Starting Bid is $25,000 **
** Auction Ends Jul 25, 2007 9:00 PM CST **
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Duplex Under 40K
Multi-Family 2-4 ~ Tenant Occupied
89 Milburn Street
Buffalo, NY 14212
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Bedrooms: 4
Bathrooms: 2
Square Footage: 1379

Total Rental Units: 2
Rental Income: $400

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For more details visit:
http://www.reiauctions.com
AuctionID: 100194
or call sandk at 804-986-0282

7 Auction Listing Strategies

Here are 7 different strategies to consider when creating an auction.

1. When using a reserve price, start the bidding at least 50% below your reserve price. - You can never start too low. When buyers see you are using a reserve, they expect your starting bid is way below your reserve price. The idea is to attract attention. What starting bid will do that for you?

2. Consider NOT using a reserve price. - You don't have to use a reserve price and some buyers are more attracted to auctions with NO RESERVE (a.k.a. Absolute Auction). If you've got a great deal, your starting bid with "NO RESERVE" can attract just as many buyers as using a reserve.

3. Seller Financing - The number one question asked of sellers on our site is "Will you finance". If you are in a position to do that such as Contract for Deed, Lease-Option or even if it's on Hard Money terms (high interest rate, short term), your deal will be much more attractive.

4. Bid on Assignment Fee - As long as you are clear in your listing the terms of your contract and details of your contract available to the bidders, you can have the bidding be on your assignment fee. Start it at $100 and let the market determine what your contract is worth.

5. Bid on Your Option - Do you have an option on a property? Have investors bid on buying your option.

6. Include Property Resources - If you have a rental property you are selling, have a few property managment companies, handymen, etc. you can refer bidders to. Including these as part of your listing makes your auction more attractive.

7. Include Finance Resources - If you need to sell for cash, make it as easy as possible for interested bidders by including information about financing companies such as Hard Money Lenders, Mortgage Brokers, Lenders, etc.

Interested in learning more? Pick up our FREE report: 6-ways to benefit from Auctions

Do you have a buyers list?

As a real estate investor who "wholesales" properties, it's important to have a buyers list. When you have a list it makes it easier to find a buyer for your deals. We realized that it would benefit sellers who list a property on our site to have a list of buyers in place. We are actively growing that list and they automatically get notified when a new auction is listed. But that's not enough, we want it be easy for sellers to market to any existing audience they already have. We created tools to help with that. The combination of our list, the seller's list and a little additional online and offline marketing will make a big impact on the success of an auction.

Sellers who realize the potential and put forth the effort will reap big rewards.

Interested in learning more? Pick up our FREE report: 6-ways to benefit from Auctions

Experts predict 35-50% of real estate will be sold by auction!

A few days ago, I ran across the statement that predicted 35-50% of all real estate in the US will be sold by auction in the next 5 years.

I think auctions are a great way to get a property noticed and sold. It doesn't suprise me that more and more people are realizing it.

I think technology is becoming more effective in making an online auction have a "live" feel to it. As a result, many auction companies are doing simultaneous live & online auctions.

And even more companies are offering "online only" auctions with growing success.

Auctions are a great way to sell and to find great deals.

Interested in learning more? Pick up our FREE report: 6-ways to benefit from Auctions

Real Estate Auctions - An effective way to sell!

Right now, it’s a buyer’s market. Buyers have lots of properties to choose from and sellers are looking for a way to stand out. It’s not a surprise that more sellers are turning to auctions for help.

A couple weeks ago, I attended a live auction in St. Louis, MO in which 6 properties were auctioned. The auction took place on the front steps of 1 of the properties. About 40 people attended and probably 20-25 took part in the bidding. Out of 6 properties, 5 of them sold at prices that, if listed in the MLS, would have sat for weeks and maybe months. Only one didn’t go well (receiving only one bid) and that property recently caught fire and was a tear down in a rural area, but at least it sold. I’ve attended auctions before, but in this market it proved to me once again, that an auction is definitely the best way to sell quickly and for a decent price.
It’s no surprise that auctions are growing in popularity, especially in the market we are in today. There aren’t many other solutions for sellers who need to sell quickly and buyers are drawn to them because of the hope of a big discount.

As the market and technology changes, a shift is beginning to take place and we are seeing more real estate auctions take place online. The reason for this shift is because technology is making it easier, less expensive and just as exciting.

A successful online auction still requires planning, online and offline marketing, and sometimes holding open houses. However, all the effort pays off by bringing lots of attention and being able to condense the time it takes to sell. One of the biggest benefits is that buyers don’t all have to be at one place at one time to bid. They can connect whenever and from wherever they have Internet access.

An auction, whether online or live, helps a property stand out and that’s the goal for any sale. Auctions are a very effective selling strategy and especially appealing in a slow market.

Want to learn more? Pick up our FREE report: 6-ways to benefit from Auctions