Taking a new approach is always a good idea, and from the very beginning, Auction.com has built its business model on just that. Here are a few ways that the age-old method for selling Foreclosures — at in-person auctions — is getting a revitalization from Auction.com.
In The Beginning: The Courthouse Steps
It’s an iconic scene in the history of Foreclosures: the auction at the courthouse steps. The auction can be chaotic and confusing to navigate and in the worst circumstances, the event can be poorly executed, non-transparent, and frustrating for those who have never done it before. Most surprisingly, the system has hardly changed since its inception. Something needed to change.
Auction.com Is the Evolution
Using technology, data science, marketing and a dedicated team of hundreds of employees to help improve the Foreclosure sale process, Auction.com became the nation’s largest online auction marketplace. By focusing our proprietary technology on Foreclosure sales, we innovated a new standard. Selling Foreclosure assets at our auctions you’ll experience a professional, well-informed team that answers questions and offers guidance.
Over the decade-plus period of innovation, we’ve used our proprietary technology to keep buyers well informed of the opportunities available. Leveraging the data collected over that time, Auction.com offers Foreclosure Predict, a sophisticated tool that highlights properties that are more likely to make it to auction. We’ve also streamlined the process of reviewing due diligence, putting more complete information right in front of prospective bidders.
In addition, Auction.com is more than a website. We help to provide rooms filled with focused buyers who have had their funds verified, professional auctioneers who keep the momentum going, massive marketing efforts, and educational opportunities that help draw prospective buyers in who have the confidence to bid.
The result: transparency, fair competition, and an auction experience that has sold over $57 billion in assets to date. At Auction.com we build world-class technology to capture information at the courthouses and make sure that information is leveraged to build on success, with real-time notifications through the Auction.com App in the lead-up to auction day, and on the big day itself.
Not Your Old Foreclosure Auction…
In recent years, Auction.com has continued to innovate, offering new ways to access local opportunities. One such example is Remote Bid™, now available in the Auction.com app. Users can browse local opportunities and, after registering, use the app to bid on select properties from anywhere. It’s another way Auction.com is removing barriers, increasing access, and building new tools to achieve success in Foreclosure auctions.
The Evolution of the BANK-OWNED Auction Process
Auction.com also revolutionized the Bank-Owned auction process, allowing the opportunity for interested investors to bid and transact all online. This expands the opportunity to bid on properties nationwide. Likewise, we work with sellers to help them make real-time decisions that benefit their bottom line.
Auction.com handles all the incoming bids, helps sellers reach price optimization, and maximizes sale price. Auction.com is all about innovating the real estate industry, providing better tools to help our buyers and sellers connect and transact effectively. Auction.com’s tools, data, and supporting technology are proprietary. With Auction.com our sellers have an innovative transaction platform that allows amplification of the reach and exposure of assets to maximize results. On the other hand, buyers can gain access to opportunities more easily, as Auction.com can match properties to an individual’s purchase criteria, which makes everyone better connected.
GETTING STARTED
How can you get started with the Auction.com platform? The best way is to download the Auction.com App and browse for your next opportunity, whether that’s in your neighborhood or in markets coast to coast. Here are a few more tips to get going:
· Create an account and access over 20K well-priced listings not on the MLS.
· Set your preferences in your dashboard to stay connected: get notifications, personalized listings and property matches.
· Save the properties you like and get property notifications to find out what it sold for!
Give it a try! Download the app and see the future of Foreclosure transactions for yourself.
