Happy Holidays and Good Tidings for Real Estate!

During the holiday season it is important to look on the bright side of things, even when it comes to business.

There have been so many reports about the doom and gloom in the real estate industry that it may be hard to see the silver lining in all of this—that tough times inspire innovation and reinvention for the better. When faced with a crisis, many people respond by demanding change and then implementing it. And though it can be difficult to pinpoint what strategies will work to make a more productive, successful future in any industry, the effort is well worth it in the end.

In the spirit of innovation and reinvention, we are seeing that online auctions are now being considered by those who previously wouldn’t have taken a second look. This program for marketing and sales, often brushed off as a means used by distressed builders and developers, is garnering the attention of healthy sellers looking to sell brand-new, upscale inventory quickly and efficiently and buyers looking to buy a top-of-the-line home at a price they dictate.

In difficult times it can often seem safer to stick with tradition, to follow the standard ways of doing things— which in real estate means selling via traditional agent listings. Right now, though, people are waking up to the fact that these new, challenging times in real estate call for a system that works in both good times and bad, that produces solid buyers and encourages quick sales.

That system, of course, is the online auction method. The online auction gives buyers the means not only to purchase a house conveniently but also to educate themselves sufficiently beforehand so that they can buy confidently. All documents necessary for due diligence are online—disclosures, purchase contracts, warranties, etc.—making the transaction as straightforward and accessible as possible, which means no surprises when it comes time to sign contracts. Plus, buyers feel empowered as never before, bidding to set prices that reflect true market values.

Online auctions help sellers too. By focusing attention on their properties and then generating excitement and urgency through the short buying timeframe set by the bid deadline, online auctions elevate sellers’ inventory far above the sea of homes for sale elsewhere. Serious buyers beyond the local market can be more easily found, as well, and then can buy from the comfort of their home computer.

Online auctions, then, have driven real estate buying and selling beyond conventional means, bypassing the limitations set by geographic boundaries and the hassles associated with long-winded traditional sales.

This is an exciting time, when more and more healthy, solid builders and developers—and better educated buyers—are giving significant credence to the online auction solution. Just look at our current auctions in Palm Desert, CA and Denver, CO for evidence: both auctions feature amazing, upscale properties that are brand-new, feature distinctive, impressive architecture, and are located in premier locations; plus, the builders are both highly respected and doing well financially. These auctions are builder inventory closeouts, not builder closings.

So now we can see the positive side in all of this real estate gloom— that the future of real estate rests in reinvention and in taking a look at methods once overlooked.

This is the time for online real estate auctions. Spread the word.