If you have never heard of Online Real Estate Auctions, do not feel as if you are the only one. The more traditional routes of selling a home are generally known to most people. This includes placing a classified ad in the local newspaper and through real estate brokers. A way that has become popular in recent years is the Live real estate auction. There are advantages to each of them, but in making a choice you need to understand why you would choose one over the other.
Classifieds allow you to reach an audience over a large geographical area, but the downside is that you will likely receive a number of phone calls and inquiries from people who are not truly interested in buying your property. You can achieve great results with a real estate auction, but your potential audience is limited. Using a real estate broker can be time consuming and sometimes inconvenient.
The best option is to combine all the advantages of these three choices by using an online real estate auction site such as Bidwin.org to maximize your audience potential and to sell your home quickly. You do not have to worry about people coming in to visit your house at the worst times and most inconvenient hours. Online auctions will only attract people who are seriously considering buying your property.
There are many other advantages to choosing an online real estate auction.
Reach – Using an online auction gives you the opportunity to attract bidders from around the world. This maximizes the possibility of you getting the best deal for your home.
Control – You are the one who sets the date and the time of the auction. When prospective buyers know the time of the auction, they can do the necessary research on your property online.
Sale Price – With the number of people who are bidding on your property, it is a fact that a large number of bidders will drive up the sale price. This is true for an in-person auction, but especially true with an online auction. The amount of set up time and effort you need to put your home up for auction is minimal.
Best Prospects – Because online auction sites almost always require proof of the bidder’s ability to actually buy the property, you can be sure that whoever wins the bid will be able to buy it immediately.
Regardless of the state of the real estate or housing markets, online real estate auctions are simply a great way to maximize the selling price of the house. Because just about everything is set up before the actual bidding begins, the only thing a seller has to do is wait for the auction to end and realize their profit. Both buyer and seller benefit from the speed and ease that online auctions provide. The buyer is able to secure the property faster and the seller is able to secure the funding faster. Everybody wins.
Earlier the advantage of a wide audience was mentioned. No matter how many people are prepared to bid on the property, you can be sure that each one of the bidders is prequalified, and the information you provide to the potential buyers is easily available to all. No answering the same questions 100 times. An online real estate auction reduces the hassle of the selling process to almost zero. At the end of the process you have virtually no hassle, are able to set your own date and time for the auction, have a far better chance at getting the best price for your home, and know that the transaction will be closed quickly.
Bidwin.org is Canada's first online real estate auction platform.