Here are the reasons why online real estate auctions are going to be a major part of selling real estate in the coming years.
- The use of the Internet is only going to continue to grow. Most buyers already search for homes online, placing a bid is the next logical step.
- If you have kids, aren't they more technically savvy than you were at their age? The Internet is already a large part of their lives.
- Ebay has helped many Internet users become comfortable using online auctions to buy and sell items.
- The traditional "list & wait" option for selling real estate is outdated. A more proactive approach is needed.
- Some large auction companies are starting to see more sales from online events than from their live events. Why would they continue to bother with the cost and coordination of a live event?
- Too much inventory on the market. The online auction provides a more efficient way to accelerate the sale of real estate.
- An online auction is exciting for both buyers and sellers to be involved in. When done right, they are the best way to achieve "true market value" for a property.
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