|Real Estate Internet Auctions are gaining momentum|
|Location: BlogsREI Auctions Blog||
|Posted by: Tom Wood||6/20/2007 10:10 PM|
Before the Internet, real estate agents controlled real estate listings. The only way a buyer could find homes for sale was by relying on an agent, looking through the local newspapers or by driving around neighborhoods. All of these methods took time and considerable effort.
The Internet has changed the market and now about 80% of buyers begin their home search online. While it can save an agent time by not being in the middle it can also give a buyer an overwhelming number of choices.
As the Internet becomes more common place and technology continues to get better, more of the real estate purchase transaction is moving on-line. One example is the real estate auction.
For years, real estate auctions have been successful on the courthouse steps or in the front yard. Then, EBay® www.ebay.com came along and people became comfortable buying and selling consumer goods through online auctions.
A natural progression is an online real estate auction and they are steadily gaining momentum. An online auction is ideal because buyers can get details about properties without leaving their home. They can visit properties that interest them and compete fairly and equally with other buyers. During the auction, they are able to see the highest bid placed by other buyers and control how high they go. An online auction is especially perfect for investment properties, because there is usually little emotion involved, just numbers.
As an investor selling a property, it’s always more profitable to place a great deal in front of as many buyers as possible. They can take it to another level by automating an “open” bidding (offer) process.
It’s understandable why real estate Internet auctions are gaining momentum, and why they are an especially good fit for real estate investment properties.
Make sure you check out our FREE Report on "6-Ways to Benefit from Auctions"
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