Tom Wood's (reiauctions) Blog

When it comes to online real estate auctions, there is still a lot of confusion among real estate agents on how they work. Here is another myth... Myth: If I use an online auction, I MUST sell to the highest bidder. Truth: Most online and even "live" auctions are done using a hidden reserve or “S...

Here is another common myth or misunderstanding about selling real estate through an online auction. Myth: Buyers will place a bid at an online auction without ever visiting the property. Truth: This is extremely unlikely. The success of an online auction depends on buyers having access to inspec...

Real Estate Disposition Corp (REDC/Auction.com) held an online only real estate auction in Texas this past weekend featuring 120 properties. They reported yesterday that 95 percent of the properties sold for a total of $10.3 million in sales. Not too bad for one weekend and this was just part of...

It's no secret that short sales are a lot of work and the reason why many real estate agents don't bother with them at all. However, for the ones that do, it's frequently a challenge to get a reasonable offer to start the process with the lender. A NEW Option : More & more agents are turning to ...

Online bidding will become the preferred method for selling real estate in the coming years. Here are some of the early indicators… REDC (Real Estate Disposition Corporation), the largest real estate auction company in the country, now sells more real estate through their "online only" auctions t...

Most people are not aware of what's going on with real estate auctions today, so I'd thought I'd share some highlights… Celebrity Cher sold a Hawaii property through an auction in January for $8.7 Million Ballroom & studio auctions where 100's of REO properties are being sold are becoming more co...

After 14 years of working in the computer industry, I was naturally drawn to the concept of online auctions when I got my real estate license. I've spent the last 5 years using online real estate auctions and here are some answers to common questions about them. Q) Aren't auctions just for proper...

Now, more than ever, lenders are willing to consider short sales when the borrower is in financial trouble and there is no equity in the home. They really don't want to take properties back in foreclosure. The Opportunity : You can now use an online auction as the perfect tool to get the highest...

“Do online real estate auctions really work?” is a common question from anyone new to using online auctions to sell real estate. The answer: Yes, absolutely they work! That's why were seeing a huge shift of auctioneers and real estate agents to adjust their selling strategies and start using them...

One of the things missing in today's market is a sense of urgency for buyers to act. Sure the government tax incentive is helping a little and I'm sure we'll see things pick up a little more before we reach that deadline, but then what? Remember the days of multiple offers and offers that went a...