Online Real Estate Auctions - Advice and Information From RealtyBid.com
Quality news and information about national and local real estate auctions, sponsored and authored by RealtyBid.com and edited by RISMedia.RealtyBid.com And The Explosion Of Online Home Auctions
Acceptance By Real Estate Agents Has Been Vital In The Surge Of Internet Auction Technology
In the upcoming October issue of REOMAC Update, the official national publication of the Association of Real Estate Owned Managers and a trade publication that focuses on the world of REO and foreclosure property disposition, RealtyBid.com Co-founder and Executive Vice President Mike Keracher writes about the current explosion of online real estate auctions. He talks about the fact that when RealtyBid.com began auctioning properties online in 2001, we were the only game in town…“most likely because no one at the time believed people would buy real estate online,” Mike notes.
In his article, Mike focuses on just how much attitudes about online home auctions have changed in recent months. He writes, “…The success of our real estate auction platform has continued to balloon year after year, and over just the last 24 months, I have witnessed the establishment of four more Internet auction programs for REO properties and at least one live auction company offering both live and Internet auctions for REO. This growth gives me an enormous sense of pride. I truly believe that Internet auctions for real estate are still in the toddler stage, but our acceptance among the buying public…is now an established fact.”
He also emphasizes that an important factor in the success and emergence of online real estate auctions has been their growing acceptance by professional real estate agents. “Over the past four years and especially the last 12 months, real estate professionals have embraced Internet auctions as never before. Currently, more than 70 percent of all bids placed on RealtyBid.com are placed by agents for their clients. Four years ago, that number was only 14 percent.”
In his REOMAC Update article, Keracher goes on to point out that real estate agents have embraced online auctions to the point that conventional property listings directly from real estate agents are becoming a bigger part of RealtyBid.com every day, allowing the company to experience success beyond the REO community.
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About Local Author
Tony Isbell is the president and CEO of online real estate auctions company RealtyBid.com. He has been involved with the real estate auction business on a national basis for more than 16 years. He has worked in various capacities in the auction business throughout his career, including in national positions such as managing director of government operations and national sales director for one of the country's largest national auction firms.
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