Tuesday, July 20, 2010
The Real Estate Auction
Once considered only a last resort for disposing of distressed property, the auction process has grown in popularity and is the fastest expanding segment of the real estate industry. If current trends continue as predicted by national real estate experts, within this decade more than 30 percent of all real estate sales will be conducted by auction!
As an "event", auctions have proven to be both convenient and successful, even in our current market. The auction process itself is interesting and captures a lot of attention, often turning "spectators" into "participants" as they become more familiar with the process. Now with the addition of online bidding, participation has increased even more.
Nothing New under the Sun
There is certainly nothing new about the auction process! Auctioneering had its roots in ancient times and has played a vital role in the evolution of commerce as we know it today. The first documented auction was reported in 500 B.C. by the Greeks.
From the Seller's Perspective
The resurgence of interest in the auction process as a desirable and profitable method of marketing real estate has much to do with as many advantages to the seller, many of which relate to the time/money equation.
What most real estate brokers/agents don't know is that they can learn how to do online auctions themselves. Join us on Thursday to learn more - Creating Urgency & Demand with Online Auctions