free online real estate auctions

ListedBy CEO Auctions Off Luxury California Condo For $100 To Drive Traffic, WOW!

SEE THE LISTING AND BID HERE WHILE IT IS STILL SO CHEAP: http://listedby.com/Listing/Details/2466233

 


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Real Estate Investors From All Countries and regions Flock To This Location…

As one of the most moribund housing markets in Europe, Spain has become a magnet for global bargain hunters. Real estate prices are down as much as 50 percent from their peak during a housing bubble, and investors from Asia to the United States and Britain are flocking to Spain to try to catch the uptick.

British Airways flights to Madrid are packed with London-based real estate executives. The hedge fund Baupost is buying shopping centers, Goldman Sachs and Blackstone are buying apartments in Madrid, and Paulson & Company and George Soros’s fund are anchor investors in a publicly listed Spanish real estate investment vehicle. Kohlberg Kravis Roberts just bought a stake in a Spanish amusement park complex. Big-name private equity firms and banks are teaming up with and competing against one another on huge loan portfolios with names like Project Hercules and Project Octopus.

“It’s surreal,” said Dilip Khullar, a 25-year veteran of Spanish real estate investing and director of Cadena, an investment fund. “One day it’s the worst place in the world to buy real estate and the next, it’s the best.”

The end of Spain’s real estate boom left unfinished projects like chalets at Cala Romantica on the island of Majorca.Enrique Calvo/ReutersThe end of Spain’s real estate boom left unfinished projects like chalets at Cala Romantica on the island of Majorca.

Low interest rates, set by the European Central Bank to help buoy Germany’s market, helped to fuel Spain’s housing boom. Real estate developers teamed up with local savings banks to borrow and build over and over again. “We were a train going 200 kilometers an hour and it was hard to stop,” said Jaime Pascual-Sanchiz de la Serna, executive director at Aguirre Newman, a leading real estate consulting firm. Construction reached a staggering 12 percent of gross domestic product, more than double the proportion in Britain or France.

When the bubble burst in 2008, Spain became toxic. “Nobody wanted to invest a penny in real estate,” said Mr. Pascual-Sanchiz de la Serna. “Spain was overbuilt and it was going to take 10 years to work through.”

It hasn’t taken that long.

The real estate market started to revive in 2013. Government reforms, including a relaxation of labor laws and stricter rules for banks related to accounting for bad real estate, meant that banks could no longer ignore the assets on their balance sheets. Once the banks had to hold more capital — in some cases drastically more — they started to think it was better to sell, analysts and bankers said.

Spain’s “bad bank,” called Sareb, formed in 2012 with the real estate assets of the country’s bailed-out banks, started to close deals. Separately, last July, Blackstone bought 1,860 apartments for 125.5 million euros, then about $166 million, and in August, Goldman bought a block of public housing in central Madrid. This combination of deals set a floor price, analysts said.

The recovery is still nascent. About €5 billion worth of real estate transactions took place last year, according to the consulting firm CBRE Spain — more than double the amount of the previous year but still small compared with the €166 billion in commercial real estate deals made in Europe last year. At the peak, Spain issued 120,000 mortgages a quarter; in the fourth quarter of 2013, the figure was 15,000. Fitch Ratings recently issued a report saying that real estate prices would continue to fall through 2014, not rebounding until 2015.

A housing block in Cancelada, in southern Spain. Many such assets from bailed-out banks went to a so-called bad bank, Sareb, which is gradually selling them off.Jon Nazca/ReutersA housing block in Cancelada, in southern Spain. Many such assets from bailed-out banks went to a so-called bad bank, Sareb, which is gradually selling them off.

And Spain’s economy continues to struggle. The unemployment rate is 26 percent, and growth is estimated to be about 1 percent this year. The government contends things are better, said Pedro Gonzalez, a former shopkeeper who now drives a taxi, but the people haven’t seen it. “There are no jobs,” he added.

But that looks like an opportunity to investors who believe the market will truly take off and want to get in before it does.

“It’s crazy the number of investors coming in,” said Fernando Acuña, co-founder of Aura, a start-up real estate advisory firm in Spain, as he toggled between multiple screens dissecting data in the residential real estate market and showing the uptick in Google searches for “comprar piso” — “buy an apartment” — in his bustling office on Madrid’s fashionable Almirante Street.

Small firms like Mr. Acuña’s, midsize investment banks in Spain and global banks in London are buzzing with investors looking for different ways to play the real estate market, by buying apartments or office buildings, scooping up loans from Sareb or the banks themselves, creating pools of capital to buy real estate assets or buying servicing platforms, which give the private equity firms that own them the ability to manage their assets as well as critical market intelligence.

Belén Romana, chairwoman of Sareb, said the number of investors — around 50 — who turned up for the first auctions surprised her. They were aggressive, she said. “It was early and they thought they could make a killing.” They pushed her to move fast and do deals. “They wanted to sit in a dark room and do a bilateral deal,” she said. She refused. Auction processes were put in place, with data rooms for deal teams and deadlines for nonbinding and binding deals.

In 2013, Sareb sold €1.5 billion of the €51 billion in assets it was created to sell. Of the €51 billion, about 20 percent is real estate and 80 percent are loans. Ms. Romana said the agency bought the assets at discounts of 40 percent to 80 percent.

Unfinished homes in Cancelada, Spain. The nation’s economy continues to struggle, with the unemployment rate at 26 percent.Jon Nazca/ReutersUnfinished homes in Cancelada, Spain. The nation’s economy continues to struggle, with the unemployment rate at 26 percent.

There is a lot to sell. Sareb aims to sell nearly 10,500 assets this year, and the top six Spanish banks hold an additional €159 billion worth of real estate and development loans, according to a Goldman Sachs research report.

Catalunya Bank has just received bids for Project Hercules, a €6.95 billion portfolio of residential home loans, 43 percent of which are nonperforming, or overdue by at least 90 days. The bidders are a who’s who of private equity: Blackstone and TPG are competing against teams of Goldman Sachs and Cerberus; Apollo and Centerbridge; and Deutsche Bank, Pimco and Marathon, according to a person briefed on the sale.

Commerzbank recently sold €4.4 billion of loans backed by commercial real estate in a separate deal called Project Octopus, in which Lone Star and JPMorgan Chase beat out Blackstone and Deutsche Bank. The price was not disclosed but market participants said the sale was made at close to a 30 percent discount.

In February, a Socimi, or Spanish real estate investment trust, came to market, raising $547 million. Two weeks later, Hispania Activos, another pool of capital, raised $763 million, with Paulson & Company, George Soros’s Quantum fund and Moore Capital as anchor investors.

Before Grupo Azora, the Spanish real estate company behind Hispania, decided in the early fall on an initial public offering, some of the bankers its executives spoke with wondered whether there would be ample demand. But by the time the deal was marketed, investors were jockeying to get a piece of the action.

“We generated demand of $2.3 billion,” said Juan del Rivero, chairman of Grupo Azora and a former Goldman Sachs partner. “In my 30 years of experience in investment banking, I haven’t seen a lot of books like that,” he said, referring to the process in which investment bankers take orders for a deal before pricing it.

More Socimis are in the pipeline, with at least one set to raise more than €1 billion.

Already the deal landscape is changing. While many investors want trophy commercial real estate assets, extremely few are for sale in prime areas of Madrid and Barcelona. Investors who hoped for 20 percent internal rates of return are now expecting 12 percent to 15 percent, and shifting their focus to residential properties, analysts said.

That shift suits Mr. Acuña of Aura very well. He has ridden the boom and bust of the real estate cycle and is gearing up for the next boom.

In 2006, Deutsche Bank hired him to build its mortgage business. When the market collapsed, he added the title of head of collections. In 2009, he started a business trying to sell repossessed houses for the banks and formed a database with 450,000 properties from banks and more than a million from private clients. When investors started calling and asked him for valuations of land, houses, buildings and portfolios, he started Aura to advise them and also to invest in the sector. Its website is in English because, he said, “all my clients are in Mayfair.”

“I think 2014 is the year we will see a lot of transactions,” he added.

Many worry that the competition for some assets and excess liquidity is driving prices higher.

“People are starting to overpay on certain assets,” said one investment banker who spoke on the condition of anonymity because he works with many of the funds active in the market. “There’s pressure from investment committees in London to do deals.”

One private equity executive said a recent auction for a mediocre office building attracted 30 bids. His company’s bid — which he said was fully priced — did not even make it past the first round.

Are prices too high? “That’s the million-dollar question,” said Javier Martinez-Piqueras, co-head of equity capital markets at UBS. “Actually, it’s the billion-dollar question.”

 

REFERENCE THE NEW YORK TIMES PUBLICATION


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Exceptional Video With William Shatner EquityBuild And Real Estate Investing Strategies

These Guys Are Just AMAZING and you can actually also read their eBook HERE if you have not already for FREE!  – -

DOWNLOAD REAL ESTATE INVESTING EBOOK FROM EquityBuild!

 

Agent Responsiveness Remains Lax – Edge For Six Percent

Only One Out Of One Hundred Agents Answers The Phone

While the figure indicated above may not be statistically valid, it should nonetheless worry brokers and raise some flags. Mainly because it is based on a real, recent experience a close business partner of mine had when attempting to purchase investment properties.

Another reason for concern is that responsiveness has been an ongoing issue in the industry. Considering it is well known that one of every four consumers will do business with the first real estate agent they connect with, one would think agents across the board would have by now figured ways to bank on the statistic.

The story I’m about to share is actually scary.

This cash-ready investor was out to make several property acquisitions about four weeks ago, in different parts of the United States. During one morning, he called one hundred real estate agents (yes, ONE HUNDRED) to inquire about one or more of their active listings. The intent was in fact to place offers on the properties, not just ask questions.

The shock came when most of the calls went unanswered. You’d think that 75 percent of calls in any sales oriented business would be picked up. If that was your guess, you were wrong. In fact not 50, 40, 30 and not even 10 percent of the calls were answered. Only ONE out of the one hundred agents contacted that morning actually picked up the phone!

Now if that shouldn’t sound the alarm, not sure what will.

It gets worse though.

This buyer left messages to all 99 remaining agents clearly stating his wish to place an offer on a property. I repeat. He told the agents to call him back because he wanted to BUY their listing. Most were traditional for sale listings, others were REO auctions or regular residential real estate auctions.

Not to belabor the point, only five agents returned the call at some point that day.

This puts six percent of agents at a clear advantage over the remaining 94 percent, with only one percent set to truly clean up.

The difficulty in answering the phone in real estate remains a mystery and obviously an insurmountable challenge. But if the industry is to edge forward, someone has to figure this out.

Maybe it’s time brokers took a closer look at the issue – and perhaps a more active role addressing it.

One thing is certain though. Sites like ListedBy that allow buyers to instantly place offers online are a breath of fresh air and great time savers. But even these would only be of real value if agents are more click than phone friendly.

 

 

 

Rock Star Closer Radio Interview With Listedby.com’s Stephan Piscano

 

Ryan Stewman

HardcoreClorser.com’s Ryan Stewman goes into details about ListedBy and public real estate auctions and residential real estate auction, in a radio interview with Stephan Piscano  first broadcast February 20, 2013.

Listen to the interview >>>>

 

Transparency In Real Estate – Key Message at SJREI Mid-Peninsula Meeting

The Three Pillars Of Change

The main message we delivered through our presentation (SJREI021313) at the SJREI (San Jose Real Estate Investors) two days ago was that transparency, or its lack thereof, is a critical catalyst that is preventing the industry from being what it can be, and the real estate professional, agent or investor, from being as efficient and productive as they should be. The underlying force being that a new paradigm shift in real estate is in underway, fueled by consumer insight, powered by technology and new business models.

We stressed and showed how these models will threaten the existence of organizations, large and small, that refuse to notice the oncoming change and tune in to new consumer expectations in how the real estate business is handled, especially online.

This would include real estate auction companies and real estate auction sites, sites that enable REO auctions and real estate government auctions, and organizations dealing in any shape or form with public real estate auctions or foreclosures and distressed property data and listings.

Notwithstanding, regular consumer portals were discussed in the same context, be it publicly traded companies or startup. That the threat is real.

The good news was that the undercurrent also brings with it potentially huge opportunities for those same organizations who tune in to the change and adapt, as many have magnificently done over the years.

Within the context of a session meant to explain to experienced real estate investors what ListedBy.com is, we took the path of focusing on industry concerns that when addressed by platforms and open environments such as ListedBy.com, should result in far greater efficiencies (operational and cost) and productivity for the investor and anyone engaged in the buying and selling of real assets. This, on the premise that all technology we elect to deploy in business is meant to enhance one or the other, in some shape or form.

The paradigm shift would consist of three key pillars with transparency at its core. From these new levels of transparency, the benefits far greater efficiencies and productivity will be drawn. Lack of transparency, today a detriment to economic growth and sales productivity will be replaced with an environment where full transparency is an expectation. Vis:

- Open access to listing data, REO, distressed and regular assets included. Hiding data behind cumbersome registration pages and fees will no longer be an option.
- Actual listing reps featured. The challenge of not being able to instantly see who the true seller or representative is, and not being able to access their contact information, will do more damage to the site or portal exercising such a strategy, than it would do them good.
- Bidding and bidder transparency. Shil bidding (bidding that is used to artificially inflate the price of a certain item), and transparency in being able to see who is bidding and who wins a bid, will become the norm.
Improved cost efficiencies would be delivered in a number of forms including:
- Free auctions
- Free access to listings
- No buyer premiums
- No registration fees
- No brokerage fees

We have a long way before everyone buying and selling real estate realize how deep the benefits of transparency would run within an organization, and how much of a boost in operational and sales productivity such transparency and access to information can drive.

If participant feedback at the session was any indication, the thinking behind ListedBy.com is definitely something more and more real estate professionals will be gravitating to.

Using Public Real Estate Auctions To Manage Multiple Offers In A Hot Market

Sealing a crack in how multiple offers are managed by using online automated auctions results in more sales and increased property values

Not long ago, many markets were literally frozen. Today we went to the opposite extreme. Agents and investors in a number of markets are complaining from low inventory, with many having closed over one hundred deals last year. A good sign if banks are able to continue to manage the inflow of foreclosures into the market. While inventory control and Federal Reserve money printing policies have directly led to a demand-based market within an inflationary environment that further helped to boost prices, the reality is that agents and investors are now looking for ways to manage multiple offers more efficiently. Irrespective of market conditions, allowing offers to fall through the cracks has deep implications on sellers, agents and buyers, and must be effectively addressed.

One of the emerging trends in real estate is fully transparent public real estate auctions. The idea of  ‘auction’ is making its way into agent and investor plans, slowly but surely. But if the statistics offer any reliable indication, real estate auctions will become significantly more prominent over the next 2-3 years. In fact, NAR (National Association of REALTORS®) projects that the auction market will consist of one of every real estate transaction, by 2014-15.

As in any industry, there are visionaries and pioneers who embrace new technologies and adopt new ways to manage and grow their businesses. Automating offer management is now emerging as an effective means for real estate agents and real estate investors to manage incoming offers and counter offers while maximizing property value at the same time.

The idea and execution are both extremely simple:

1- Set a start and end date to auction a property online. Traditional on location auctions tend to be relatively cumbersome, resource intensive and expensive. New 100% online auction platforms are replacing the old model and are entirely free of charge.

2- Pre-market the auction to investors, brokers, agents, consumers and anyone you would usually reach out to through your usual marketing channels, and direct them to the online auction page. Include the auction open and expiry dates and times. Use email, post cards, your website and social media channels to create excitement around the auction, and include the link to the auction page.

3- Watch offers come in and get outranked automatically by other interested buyers, through your online dashboard and at your convenience.

4- Contact the buyer with the highest bid, at auction expiry (the auction end date and time), to begin the legal paperwork.

Along the way, advanced platforms such as ListedBy should enable you to view bidder profiles and contact information, so you may connect with them directly if you wish to flesh out the more likely buyers, much like you would in a typical, non auction environment.

Letting technology take in bids, update bidders and automatically increase bids based on preset limits each interested buyer inputs into the system is a surefire way to manage hundreds of offers simultaneously, especially important in a hot market. So you can seal that crack once and for all, and maximize sales and property value.

 

Some Event Highlights for Us From The Inman News Real Estate Connect

WOW Inman News was the best that we have seen yet with some great moments and great feedback for ListedBy from users and some of the top industry pros!

Also never a bad thing to get to play a bit in NYC!

Here are a few observations and a few highlights from ListedBy’s CEO: 

Observations:

  • As my esteemed colleague noted, the industry is taking more and more of the home buying process online and seems to be a real drive towards completing transactions online and eliminating the paperwork nonsense that we have dealt with for so long.  This obviously was a big part of why we founded the ListedBy.com site. To allow users to not only research homes online but actually buy homes online, and we are excited to be a part of that for the industry as a whole.  Ideally we would like to incorporate a paperless system into our site that would perhaps make it even easier for our users to not only submit offers on homes online but actually complete the transaction. Who knows, we might have made a partnership for that at this event.=)
  • NYC is enjoyable and one heck of a place to go, but those stories that you hear about the airport at JFK are all true!

Highlights:

  • It was a pleasure for me to get to chat with a couple of industry rockstars in particular that had some sentimental value for me.  Won’t state their names as don’t have authorization to, but one CEO in particular still owns the site where I bought my first Detroit, MI property online that to some extent started the whole idea for creating the ListedBy site. It was great to chat with someone of his caliber for an hour and hear he actually really liked the concept of our site!  Also, great to see a few good friends and partners like Bill from Revestor, the boys from NuOffer, my main man Hector from Trycera (All great companies to check out) and many more.
  • We REALLY got some positive comments from a lot of the industry’s top agents about the website and saw that they really love the ability that ListedBy allows for them to have direct offers from the buyers, which allows them the opportunity to double their commissions by representing both parties.  Also, agents and users all loved the new and improved page for service providers where you can search services for free like you would on a servicemagic.com and other similar websites, but with us of course it is all for real estate management and purchases.
  • We once again had a helicopter to give away to one lucky user. Roger always tries to get it out of the box and fly it around, which sometimes results in the police being called. Luckily I was there to save him from himself!  Another personal note highlight for me is that we got to have a great dinner with a killer view of the city with my big guy Roger. It was nice to have a moment like that with a great business partner and friend to look at where we have come and where we hope to go with the site as we continue to grow.  As we all know, running startups and really any business has ups and downs, and takes a certain level of dedication. So moments like that, events like NAR Orlando and this one are really a big part of what makes it so enjoyable and rewarding, and why I am so thankful to all of you for using the site and allowing us to keeping putting out those 15 hour days to try and get better all the time.

 

 

To clarify, the gentleman noted in the photo there is Hector from Trycera, not Roger.

 

 

 

 

 

 

 

 

 

All in all it was exceptional and we look forward to being a part of many more events like this one in the future and hopefully seeing some of you there also. Who knows, you might win a helicopter, or even better, private dinner with me and Roger!

Stephan Piscano

CEO ListedBy.com

 

 

Observations From INMAN News’ Connect Conference NYC

The INMAN Connect conference in NYC just wrapped up. After three long, tiring and extremely productive days, what stays with us is how grateful we are for yet another opportunity to see and spend time with many of our long time business partners and customers. As well, all the new executive level contacts and subscribers who decided to join and try out ListedBy.com.

Not many conferences bring together decision makers with this intensity. The event was very well managed, so kudos to the INMAN team for a job very well done!

Some of our takeaways from the conference is that optimism amongst industry professionals and vendors of all types of solutions is at a high we have not seen for several years. That is extremely encouraging.

In addition to learning how to effectively use social media in real estate, there was clear interest in figuring how to more effectively manage multiple offers, specifically in this relatively hot market. With many Realtors telling us they closed over one hundred deals in 2012, what they are now interested in, besides more inventory of course, is increased efficiency in managing multiple offers and deals.

Certainly this made paperless oriented technologies more interesting and attractive, and it showed on the conference floor. We had extremely great feedback and support regarding ListedBy’s buy/sell online negotiations and public real estate auctions tool, as well as for the site’s free, advertising supported business model and the built-in social networking module.

To note was the realization by many top producers we spoke to that they can now rely on one of ListedBy’s productivity enablers, the live online auction tool, to manage incoming offers practically without lifting a finger or answering a single email. For those not familiar with ListedBy, strictly by allowing bidders to see who else is on the bid side and what the latest bid is at, multiple buyers move the process forward by increasing their bids directly through the system, without the listing agent’s personal involvement until the auction expiry (the date and time the agent sets for the auction to end).

Brokers also showed solid interest, underlined by commitment, to ListedBy’s broker solution. The solution allows a company to market its agents and listings more widely for free, but in a way where the agents get to receive not only leads and traffic to their sites, but also actual offers that they can accept, reject or counter with a click of the mouse while logged on to ListedBy.

Thanks again to everyone for all the new ideas and input, which in ListedBy land is of paramount importance and goes right into our planning for future upgrades and releases.

For those new to ListedBy, here is a How To Video series to help you get started. We look forward to working with you and to supporting you in any way we can.

The Listing Buster – How To Clinch New Listings With This Simple Idea

What do you tell potential clients that others haven’t yet pitched? What do you have to show to stand out from your local competition?

Online auction fuels competitive bidding and allows agents to manage hundreds of offers effortlessly

The single property website story has been played. So has listing syndication, property videos, commitment to doing open houses and other typical advertising and marketing strategies. In a distressed market, pre-forelcosure and short sale experience also tend to make a huge difference. But on any day, highlighting online auction as one of your strengths and unique strategies to marketing client property is a significant differentiator.

Whether you are working to win a large commercial or residential deal, your prospect will be delighted to hear how you can use online auction technology to market their property to buyers worldwide, and set up an environment that can ignite a bidding competition on their house or office building.

The next generation agent is going paperless, and negotiating deals is a critical piece of the puzzle. So is the ability to bid buyers against each other to maximize asset value, without breaking a sweat. Online auction delivers these benefits easily and efficiently, and is a rapidly growing trend that pioneering agents and top producers are and must pay attention to.

A house that’s walking distance to Union Station in DC recently listed for $337,000 and sold for nearly $761,000 after approximately 170 bids in just two weeks, as reported today by the Washington Post. Imagine enabling out of area, out of state and foreign bidders to chime in as well, online. Now how about firing up the bidding process even more, by allowing bidders to see each others’ bids online, and enabling them to increase their bids with a click of the mouse, while you and your client watch in real time?

New online commercial and residential real estate auction technology is extremely easy to use, and is completely free of charge for all parties involved. It allows you to manage and oversee hundreds of bids without lifting a finger, and gives you the chance to market to buyers out of state and across the world, with no added effort.

Now that’s the kind of pitch that stands to snag you more listings, while others stand in wonder.