Is selling Rental and Income type of Properties in Online ONLY Auction a good idea?And

and is there a good online auction for Real Estate that can do the job.. keep in mind these are NOT in Strissed sale or must sell and not looking to list them forever..looking for Online type of Brokers email Christamathew1980@hotmail.com
In Selling Property - Asked by christina n. - Feb 21, 2010
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Answer(s)

Leonard B.
Broker/Agent
Temecula, CA

Most auction purchases are at the bottom of retail. The best auctions are the ones held on the courthouse steps. However, they are more difficult than the rest. You will need to know the true values of the properties, the position of the seller and if any property taxes are due. Even at these auctions, many people will pay retail, so you need to decide ahead of time where to stop. Often, you will not know the opening bid until the last hour, so you will function better with a support team. There is a daily turnover of new faces because people think it's easy but after a day or a week or two with no results, they leave. Look into short sales too because the seller has no motivation to make a profit and the property will be in better condition.

Feb 22, 2010
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Brandi L.
Broker/Agent
Oak Brook, IL

An open auction would be a better venue. My experience is that Buyers appreciate the transparency of the sales process. Additionally, your most qualified purchasers will need to be engaged in the sale via showings, face-to-face contact/interaction, due diligence evaluation, etc. Happy to discuss further if you like without trying to sell you my firm's services. Jim Blanchard 630.990.8657 jblanchard@inlandgroup.com

Feb 24, 2010
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Cathy F.
Corporate Investor
Marina Del Rey, CA

Online auctions are a tremendously efficient way to sell commercial real estate. Your broker can market an online property auction to a much larger and far more qualified buyer pool than you can gather into a hotel ballroom. The process is easy and fully transparent. If you'd like to learn more, visit AuctionPoint.com.

Feb 24, 2010
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Brandi L.
Broker/Agent
Oak Brook, IL

Don't confuse on-line or web-based marketing with an on-line only auction. Electronic marketing is an essential component of any successful auction program. I have experience with both on-line and open outcry auctions from both a buyer and a seller's vantage point and have seen first-hand the price variance between the two. I agree that it is easier to bid on-line, however, the ultimate sale price is of paramount importance. Your best buyers will always take the time to attend an open event and will make a substantial commitment in doing so resulting in a much higher closing ratio. Jim Blanchard

Feb 25, 2010
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Gregory G.
Broker/Agent
San Francisco, CA

Not unless you have to sell quickly.
Gregory Garver - Commercial Real Estate Broker
Broker License# 01716531
(415)225-9894
gregory.garver@gmail.com

Mar 5, 2010
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