It takes effort to be successful with an online real estate auction. The property has to be prepared, pictures taken, open previews coordinated and lots of advertising.
The goal is to get a lot of people interested in a short amount of time. The more interested buyers competing, the better chance for success.
When it's all over and you identify a winning bidder, are you taking advantage of all your work and expense? Are you following-up with the unsuccessful bidders?
If not, you need to consider it. The unsuccessful bidders are good leads for you to work. They can provide a back-up if your winning bidder falls through or you may be able to turn them into buyers for another property or future auction.
They are buyers who have interest in buying. You already have a relationship because they bid on one of your listings. You have an opportunity and advantage, so make sure they don't slip away without your offer to help.
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