4 Ways to Auction Real Estate to Worldwide Bidders

Online and live real estate auctions help to greatly increase bidder competition and selling price of your real estate. You can offer your properties to worldwide bidders, increasing your exposure and getting a list of qualified buyers. Auctions are a powerful selling tool. There are 4 ways to auction your real estate globally.

There are 3 different types of online auctions including pre-auction bids, online bids, and post-auction bids. Buyers can view all property details, photos, documents, and a google map of where the property is located.

1. Pre-auction bids: With pre-auction bids, bidders can place an offer before the property goes into auction. Some buyers may submit a bid to reduce competition for a property they are extremely interested in.
2. Online bids: With a typical online auction, bidders can view the current bid, bid increment, and all bid history. A bidder can submit an online bid and be notified if they have been outbid. An online auction like this can run for several weeks.
3. Post-auction bids: If you have an absolute auction, the property will be sold to the highest bidder. If it is not absolute, properties can go into post-auction stage and get additional offers from post-auction bidders.

The fourth type of auction is live simulcast.
4. Live bids: You can stream live audio and video of your auctions to bidders worldwide. They can view all bids, photos, and property information while they compete with onsite as well as other online bidders. You also have the flexibility to move properties from an online auction into live. A property could receive pre-auction bids and if offers don’t reach the desired selling price it can be moved into a live auction.

To find out more about online and live auctions and integrating a SaaS auction platform with your website, visit www.XWAuctions.com.