A Real Estate Online Auction brings true market value

In a competitive buying environment, it been proven many times that selling by auction is the best way to achieve true market value for something.

Think about the high-end auction houses like Sotherby's who have been thriving since 1744. They have the auction marketing strategy and process down to a science and are good at it. Whenever an owner of an expensive piece of art wants to sell it, they usually turn to Sotherby's to help them get true market value. It sure beats putting an ad in the paper.

Within the last 10 years, more and more auctions have moved to the Internet. You've probably heard about unique items on Ebay that attracted thousands of bidders and resulted in a very successful sale.

My point is this, the auction method of selling has proven as a very successful way to bring true market value for any item when the marketing is done right. It brings buyers together within a time boundary which creates competition.

Today's real estate market needs this badly and we are seeing more auctions as a result. However, even though the Internet has opened this process to real estate agents, most are slow to adapt. It could be lack of understanding, resistance to change, or maybe a combination of both. It reminds me of time not too long ago when many real estate agents said "Why do I need a website?"

As we all know, change is constant and technology has sped up change. Those who understand and embrace change have a huge advantage on those that don't.

I'll be the first to admit, an online auction is not a good fit for every property. It's not the end-all solution. However, it's a powerful option in the right situations and if you're not familiar with how you can be using them, it's time to start learning.

Real Estate Online Auction - Success Tip

In the past 4 years, I've seen hundreds of successful and unsuccessful online real estate auctions.

One of the things I've noticed with the successful online auctions is that, the listing agent puts together a marketing plan. They plan scheduled open house previews, signs in the yard and surrounding neighborhood, Craigslist, Facebook and other Internet marketing. On higher end homes, direct mail postcards and other print advertising is also used.

One of the great things about an online auction is that it naturally attracts attention. Buyers are anxious to know about them and they stand out. So, it just becomes a matter of figuring out the best ways to let them know about it.

If you're a Realtor and not yet familiar with how you can use online real estate auctions, come join our next Free webinar

Real Estate Internet Auctions - Gets things moving

The real estate market has been slow and sellers are getting tired of waiting for offers and lowering their listing price.

Now is the opportunity to become proactive by using a real estate online auction and get a listing under contract in 30 days or less.

Technology has provided the tool. Join us Thursday for a Free Introduction to using Online Real Estate Auctions

Real Estate Online Auctions - Continue to grow

Real Estate Disposition (REDC) just reported $68.8 Million in sales from their auctions held December 5th & December 6th. $37.8 Million of that was sold through it's "online only" auction site.

This is now the 2nd consecutive week that their "online only" sales exceeded their "live" on site sales. Another strong indication that online auctions are growing quickly.

The great news is, that technology is available today that allows any Realtor to take advantage of this growing trend.

If you're a Realtor and not yet familiar with how online auctions work, make sure you take advantage of our Free webinar - Register Here

Real Estate Online Auctions - Misconceptions

When it comes to online real estate auctions, I'm finding there are still a lot of real estate agents who don't understand them.

Here are some of the most common misconceptions...

1) The seller must accept the highest bid - Not true. The only time that is true is when an auction is done absolute. Almost all online auctions are done with a reserve price or "subject to seller confirmation"

2) Auctions are only for distressed properties - Not true. Luxury homes and brand new homes are regularly being sold through online auctions.

3) People will Bid without visiting the property - Not realistic. Yes, in certain situations when you are auctioning land or something for pennies on the dollar, you could receive bids from someone who hasn't physically viewed the property. Realistically you need to have scheduled open house previews for potential buyers to visit.

4) No way to validate bidders - Not true. Many auction systems have credit card validation processes as well as full "bidder pre-approval" processes. As a listing agent you can require the same requirements you do for presenting a written offer.

Want to learn more? Join our next webinar - Click Here to Register

Real Estate Online Auctions - Growing

It seems almost every week I discover a new online auction site for real estate. This is clearly not a passing trend, but something that is going to continue to grow.

As I think about it, it's easy to understand why. All teens and young adults are very connected to the Internet. As they move into home ownership, it's only natural that they will want to bid online.

Real Estate Internet Auctions are here to stay...

If you're a real estate agent and not yet familiar with how online auctions work, make sure you take advantage of our Free webinar - Register Here

Real Estate Online Auctions for Realtors

REDC had $33.6 Million in sales through it's "online only" auction site this past weekend. Additionally their "live" onsite auctions added another $21 million.

This is a great example of how online auctions are growing and here to stay.

Technology has enabled the Realtor to get involved with online auctions, but most Realtor's don't know it yet.

Currently, in every state except Georgia, New Hampshire & Rhode Island, a licensed real estate agent can conduct an online auction themselves without the help of an auctioneer.

To find out how you can get involved, join our next webinar on Thursday.

Click Here to Register