Wednesday, August 6, 2008

A window of opportunity

A successful auction requires a motivated Seller.

With that in mind, have there ever been more motivated Sellers than there are right now as a result of the sub-prime mortgage mess? Are you losing business in your own home territory to out-of-town auction outfits snapping up and auctioning off hundreds of properties at huge ballroom live auctions?

Do you know your local area better than they do? Do you think you could out-sell them on price?

Is your hometown littered with pre-foreclosures and the chance for short-sales, as well as bank-owned repossessions?

Auctions have long suffered the connotation of "distress sales." Well, that's what we've got at the moment, and who knows how long it will take for the market to come back into balance.

Auctions aren't the problem, but they are proving to be the best solution for all concerned.

How do you get your piece of this huge pie? By offering online bidding on your website and going after these distressed properties in particular to get started.

We believe the perception of auctions as strictly "distress sales" will fade away as market conditions change and online bidding becomes a vital tool for traditional Realtors.

In the near future, auctioneers will certainly continue to have auctions, but conventional real estate agencies will offer "online bidding."

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