Auction.com recently received the 2021 HousingWire Tech100 Real Estate Award, which honors the most innovative and impactful companies in the real estate industry.
The key technology that HousingWire considered for the award was Auction.com’s Remote Bid™, which makes the buying of foreclosure properties more accessible and convenient.
“Auction.com is excited to receive this award, especially during such a challenging time,” said Steve Price, SVP, FCL/Trustee Operations. “As sellers and buyers continue to deal with the various foreclosure auction and eviction moratoriums related to COVID-19, Remote Bid meets their challenges by offering a new, innovative way to transact on distressed homes for better outcomes.”
Remote Bid drives more competition on distressed assets by allowing buyers to bid on multiple assets from all over the country using their mobile device. Bidders are not limited by location and don’t have to worry about harsh weather, travel distances, or socially distancing in a crowded auction venue. Along with letting investors bid on and win distressed homes during the COVID pandemic without attending the auction venue, Remote Bid saves buyers time and money, which can be reinvested into other business needs.
The technology was in development long before the pandemic, and the app launched in June 2020. The Remote Bid Team continues to expedite the rollout to meet the needs of bidders during COVID.
Currently Remote Bid has:
- Rolled out in 15 states
- Attracted more than 5,000 approved buyers
- Funded over $80 million through the app
For more information about Remote Bid, contact your Auction.com Business Development Partner.
Related Content
- Auction.com 2021 Tech100 Real Estate Award Profile (article)
- 3 Early Remote Bid Trends (video)
- What is the Evolution of Remote Bid? (video)
- Auction.com Enables Remote Bidding on Live Foreclosure Properties (article)
- Introducing Remote Bid on the Auction.com App (video)