Online Bidding for all Realtors

REALTORS, would you like to have a tool to help sell your own listings, with less effort and maximum exposure at minimum cost?

Our marketing consultant in Florida is an auctioneer with 25+ years of experience. Here is some information he put together for Realtors on using online auctions.

Auction means Action

I'm still surprised when I talk to someone who is skeptical about using an online auction to sell. Can you think of any other method that can draw as much attention and is easy to do? I can't.

I ran across a quote today that sums it all up... "Auction means Action". No matter what the end result, even if you don't sell, buyers will contact you, buyers will view your property and many buyers will place offers (bids) because it's easy.

Online Real Estate auctions are the next big thing to hit real estate, are you ready?

Auctions - What are you wating for?

The real estate market is slow, your property has received no offers and very little traffic, so why haven't you tried an auction?

Auctions are working! Houses are getting noticed, bids are being submitted online and properties are being sold. Real estate auctions are the biggest growing sector of the auction industry. If you haven't taken advantage of this new opportunity, it's time to start.

Real Estate Auctions Thrive as Home Sales Plunge

I just read an article in the Wall Street Journal which said that while the real estate market sales have been going down, auction sales are increasing. In fact, according to the National Association of Auctioneers, the real-estate auction market climbed 5.3% in 2007, generating $58.4 billion.

The article also mentioned that more real estate agents than ever before are signing up for training on doing auctions.

I believe what makes this even better is that the Internet is the "glue" that brings this all together. A real estate agent can now hold an online bidding auction without the need take "live" bids. Simplifying the coordination, and increasing the number of buyers that can participate.

There is no doubt this is changing this technology is changing the way real estate is bought and sold.

Real Estate Auctions are great deals, right?

I love marketing properties through online auctions. It's a great way to grab attention and it's fun to watch the bids come in online.

However, it's also important that buyers ALWAYS do their due dilligence. There are great deals to be found through an auction, but there are also not so great deals. Buyer Beware!

Real estate Internet auctions make it pretty easy to bid, but most buyers don't realize that price is only part of the equation. Buyers MUST also understand the terms. Terms will spell out the conditions of the purchase. Some example of terms are: "as-is" all inspections required before auction ends, closing in 30 days, amount of escrow deposit, add-on fees such as buyers premium, etc.

There are definitely many great deals to find at auction, just make sure you read and understand the terms before you place your bid.