Auctioning real estate, a sales method we most associate with foreclosures, is now being applied to move houses and condominiums not being repossessed by the lending institutions, as the demand for well-priced real estate continues. While some auctioneers say that such public sales will continue to be used for real estate even as the market improves, many developers and real estate specialists believe this trend is born of the times we’re in and will fade once the surplus housing stock does.<\/p>\n
Real estate auctions have not only demonstrated an ability to sell, but they are strongly influencing the sale of properties in the online environment as well. In the face of the U.S. housing market concerns, more and more people, particularly out-of-state and foreign investors, are utilizing online auctions to purchase properties. However, one of the most telling signs that this trend could get bigger before it fades is its growing acceptance among traditional real estate brokers.<\/p>\n
Implications for Residential Real Estate Companies<\/strong><\/p>\n Over the past few years, auctioneers have noted strong growth in the number of first-time sellers. Today, the auction market for real estate has grown to $65 billion-plus in sales. According to a study done by the National Association of Realtors, the future of the real estate auction business may be heading toward one in every three properties being sold or influenced using an auction listing. If that’s the case, any brokers looking for new opportunities to generate additional revenues, might want to consider opening an auction division.<\/p>\n The auction method of marketing involves more than just making a sale. It involves orchestrating a business transaction and entering into a commitment to meet the needs of sellers, buyers and Realtors\u00ae alike. The object is for the outcome to be positive for all parties involved, so please consider the points that follow as they apply to your specific market area.<\/p>\n Benefits to Seller<\/p>\n Benefits to Buyer<\/p>\n Benefits to the REALTOR\u00ae<\/p>\n All of this being said, the idea of integrating the auction process into residential real estate transactions is compelling.\u00a0 The introduction of auction services into\u00a0a\u00a0range of services would provide yet another avenue for buyers and sellers\u00a0who seek some of the\u00a0specific\u00a0benefits\u00a0cited above. \u00a0As real\u00a0estate professionals consider\u00a0which operational\u00a0tools\u00a0will help\u00a0to differentiate them\u00a0in future years, it could well be that auction services will become a mainstay.<\/p>\n","protected":false},"excerpt":{"rendered":" Auctioning real estate, a sales method we most associate with foreclosures, is now being applied to move houses and condominiums not being repossessed by the lending institutions, as the demand for well-priced real estate continues. While some auctioneers say that such public sales will continue to be used for real estate even as the market […]<\/p>\n","protected":false},"author":181,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[141],"tags":[1351,2861,14691,15371,28201,33981,34101,35611,38661],"class_list":["post-1438","post","type-post","status-publish","format-standard","hentry","category-marketing-and-branding","tag-agents","tag-auctioneers","tag-financing","tag-foreclosures","tag-nar","tag-real-estate","tag-real-estate-auctions","tag-realtors","tag-sellers"],"yoast_head":"\n\n
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