Not so long ago, becoming an “auctioneer” seemed impossible to many real estate professionals. However, as technology improved, online auction platforms began to emerge on the scene and changed the landscape of the traditional auction industry. Today, online auctions are gaining popularity among real estate agents. These auctions are used as a marketing method that not only creates acceleration and excitement, but also convenience for customers.
Auctions are an effective marketing method for most types of properties and have proven effective in real estate. A growing number of real estate brokers are seeing the value of offering a wider range of solutions to their clients, including auction services. Online auction platforms have also solved many challenges for real estate companies by expanding their service offerings to include auctions.
The main advantages of online auctions over traditional live auctions include:
Many have said that the main barrier to entering the auction profession is that they have no desire to stand up and bid in a crowd of people. Online auction platforms forgo the traditional live chant of the auctioneer. All auctions are facilitated electronically, creating greater opportunity for the real estate community to leverage the auction method of marketing.
A mainstay of the live auction profession is the loudspeaker system, which allows an auctioneer to be heard above the noise of the crowd. Online auctions eliminate the need for expensive equipment.
Rental of facilities and logistics
If you face inclement weather conditions or a remote location that is difficult to access, the on-site logistics of a live auction can be a problem. There is usually a need for concessions, seating, tables, restrooms and air conditioning, all of which need to be managed during live auctions. Either way, if you’re hosting a live auction onsite or offsite, the day of auction logistics can be eliminated by setting up an online-only auction event.
At a live auction, staffing requirements include an auctioneer, auction watchers, a clerk, and listing officers. An online auction eliminates these needs, saving you money.
We have integrated live and online auction solutions into our core service offerings for over 15 years. These services provided franchisees with access to auction programs such as online auction platforms, project marketing, development and event training, discounts on auction supplies and more.
As the industry continues to evolve, we expect the auction method of marketing to play a much larger role. Real estate auctions are increasingly recognized as a powerful alternative to traditional sales strategies.
Shawn Terrel is president of United Country Auction Services. He is a former board member of the National Auctioneers Association and a graduate of Missouri Auction School and Texas Auction Academy. He holds both his Certified Auctioneers Institute (CAI) and Accredited Auctioneer Real Estate (AARE) designations. For more information, visit www.paysunis.com.