| Right now, it's a buyer's market. Buyers | | | | buyers are drawn to them because of the idea |
| have lots of properties to choose from and | | | | of a big discount. |
| sellers are looking for a way to stand out. | | | | |
| It's not a surprise that more sellers are | | | | As the market and technology changes, a shift |
| turning to auctions for help. | | | | is beginning to take place and we are seeing |
| | | | more real estate auctions take place online. |
| Yesterday I attended a live auction in St. | | | | The reason for this shift is because |
| Louis, MO in which 6 properties were | | | | technology is making it easier, less |
| auctioned. The auction took place on the | | | | expensive and just as exciting. |
| front steps of 1 of the properties. About 40 | | | | |
| people attended and probably 20-25 took part | | | | A successful online auction still requires |
| in the bidding. Out of 6 properties, 5 of | | | | planning, online and offline marketing, and |
| them sold at prices that, if listing in the | | | | sometimes holding open houses. However, all |
| MLS, would have sat for weeks and maybe | | | | the effort pays off by bringing lots of |
| months. Only one didn't go well (receiving | | | | attention and being able to condense the time |
| only one bid) and that property recently | | | | it takes to sell. One of the biggest |
| caught fire and was a tear down in a rural | | | | benefits is that buyers don't all have to be |
| area, but at least it sold. I've attended | | | | at one place at one time to bid. They can |
| auctions before, but in this market it proved | | | | connect whenever and from wherever they have |
| to me once again, that an auction is | | | | Internet access. |
| definitely the best way to sell quickly and | | | | |
| for a decent price. | | | | An auction, whether online or live, helps a |
| | | | property stand out and that's the goal for |
| It's no surprise that auctions are growing in | | | | any sale. Auctions are a very effective |
| popularity, especially in the market we are | | | | selling strategy and especially appealing in |
| in today. There aren't many other solutions | | | | a slow market. |
| for sellers who need to sell quickly and | | | | |