Busting Five Myths of Real Estate Auctions
ByJoin 700+ peers and get the latest market intelligence from experts you can count on at RealShare ORANGE COUNTY on August 18.
Sharga: “All you need is a computer with Internet access and the ability to click a mouse.”
IRVINE, CA—Despite beliefs to the contrary, you don’t need to be tech savvy to bid in an online auction, and auctions are more than an avenue of last resort,Auction.com’s EVP Rick Sharga tells GlobeSt.com. In order to dispel some of the biggest myths about online real estate auctions, we spoke exclusively with Sharga about those myths and why they’re untrue.
GlobeSt.com: Many people feel auctions are the avenue of last resort and are only for distressed properties. What do you say to this?
Sharga: This may have been the case years ago when auctions were the easiest way to dispose of troubled assets, but the industry has evolved. Just like any other high-end item, auctions work for opportunistic and stabilized properties in the best markets. All types of assets work well for online auctions today, and many actually fetch higher sales prices than what they would have generated through a more traditional marketing process. Today, Auction.com is having success in the class-A market, which is realizing that using auctions as a first resort can be very effective…
