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First Free Online Real Estate Auction Platform with Integrated MLS Listing Search at NAR’s 2012 REALTORS® Conference & Expo

We’re looking forward to seeing you and many of our members at NAR in Orlando in about ten days where we will showcase the latest ListedBy.com release.

The ListedBy team will be at booth #574 from Nov. 9 -12 to demo the upgrade. Full online real estate auction and ‘Submit Offer’ functionality, integrated LinkedIn-line networking tools to build and grow your sales funnel, auction listing search and now also national MLS listing search on the same platform, for an even better user experience, and all for ListedBy’s now famous monthly fee of zero dollars!

If you’re planning to be there, we’ll also be giving away a luxury condo stay in Vegas for four people, and two Nook devices! Please drop by and say hello.

 

 

 

Advantages of Buying Real Estate at Auction

In a previous post we outlined eleven benefits to ‘selling’ property at auction, the least of which is that buyers are ready to transact, financing or cash already in hand.

Bernice Ross in her article for INMAN News offered more details, and discussed the benefits of not just selling, but also buying property at auction. The piece rightly suggests Realtors should consider talking to their clients about buying at auction. Here are some key benefits.

“In terms of benefits to the buyer:

- Smart investments are made as properties are usually purchased at fair market value through competitive bidding.
- The buyer knows the seller is committed to sell.
- In multi-property auctions, the buyer sees many offerings in the same place at the same time.
- Buyers determine the purchase price.
- Auctions eliminate long negotiation periods.
- Auctions reduce time to purchase property.
- Purchasing and closing dates are known.
- Buyers know they are competing fairly and on the same terms as all other buyers.
- Buyers receive comprehensive information on property via due diligence packet.

Because many auction models actually highlight working with a Realtor, this can be one of the quickest ways to earn a commission.”

The Advantage of Selling Property Through Online Real Estate Auction

National real estate coach and syndicated columnist Bernice Ross explained some of the various real estate auction types in a recent article on INMAN News, and highlighted some key benefits for sellers, drawn from NAR’s website, Realtor.org. The article also encourages Realtors to discuss auctions with their clients, as a means to list and sell their home.

Considering that the term ‘auction’ means ‘to augment,’ as in price appreciation, plus the advent of fee-free auctions brought forward by ListedBy.com, the shift towards auctioning property as a primary means to list and sell homes for both agent represented property and ‘for sale by owner’ assets, is just beginning.

Seller benefits:

  • Buyers come prepared to buy.
  • Quick disposal reduces long-term carrying costs, including taxes and maintenance.
  • Assurance that property will be sold at true market value.
  • Exposes the property to a large number of pre-qualified prospects.
  • Accelerates the sale.
  • Creates competition among buyers; auction price can exceed the price of a negotiated sale.
  • Requires potential buyers to pre-qualify for financing.
  • The seller knows exactly when the property will sell.
  • Eliminates numerous and unscheduled showings.

Takes the seller out of the negotiation process. Ensures an aggressive marketing program that increases interest and visibility.