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Auctions: Selling on the Fast Track

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As if real estate needed more hurdles, a tough credit market has made a monster of the already lengthy and sometimes nerve wracking financing subject. On a good day, the process can delay or derail a deal, to the agony of the seller, the buyer and their agents.

While solid traditional and alternative financing options remain, savvy agents can widen their marketing scope to skip the financing concern altogether.

Skip the Financing Hurdle

To go from ‘lead to sold’ on the fast track, market your listing where buyers are ready and looking, financing and cash already in hand.

Professionals around the world have figured that to maximize asset value and save valuable time and resources, they must cut to the chase by focusing their marketing on buyers who are ready to execute.

The National Association of REALTORS® (NAR) forecasts that within four years, one in every five properties in the United States will be sold at auction.

Last year in the U.S., over 58 billion dollars of real property exchanged hands at auction, with 52 percent being non-distressed, luxury homes and estates. Many of those are multi-million dollar deals that closed in as little as 30 days. These numbers can skyrocket as new, Web-based platforms enable mass participation by REALTORS® and consumers alike.

Focus on Committed Buyers

Buyers at auctions are significantly more likely to go through with a deal, mainly because they are funded and ready to engage. Most online auction platforms and traditional auction houses also impose penalties to help maintain auction flow and process integrity.

The Free Model and Mass Participation

Early and typical auction models impose registration or participation fees, penalties and buyer premiums.

The future of online real estate sales does away with such prohibitive fees,including the buyer premiums, which can be up to 10 percent of the value of the transaction. This shift, powered by highly intuitive technologies are set to attract mass participation, revolutionize real estate buying and selling, and put the traditional sales process in North America on the fast track.

For more information, visit www.ListedBy.com.

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