- December 20, 2023
- Reading time about 5 minutes
Auctioneers often face a big challenge with real estate auctions—let’s call it the auction code. This is one big question that stares in the face of every realtor. How do you get more bids while making sure everyone leaves happy?
Starting from putting a lot of work into setting up an auction event to finding out very few people show up, the constraints are endless for brokers. The auction code is real and hangs over every auctioneer, even after spending big bucks on marketing and organizing.
What if we tell you there’s a way to crack the auction code?
Real estate auction platforms are the catalyst. Online platforms like Bidhom are changing the face of real estate auctions, making things way more exciting, transparent, and successful for everyone involved.
This blog will discuss the simple yet amusing ways online real estate auction platforms make auctions work better. From real estate marketing to getting the word out to create a bidding setup, a real estate platform for brokers has some great hacks up its sleeves.
Seamless Pre-Auction Experience
Before you venture into the online auction world, you must have a clear strategy from the get-go in hand. What kind of property are you putting up for auction? Is it a single-family residence, a townhouse, or perhaps a condo? Are your potential bidders looking for an investment, a home, or something to fix up and sell? Having planned this out, you can guide them in the right direction.
Your potential clients are in search of information. Before they make a bid, they want to look at the property. Comprehensive auction solutions like Bidhom come with a real estate website builder with IDX that showcases the latest listings on your website. When you put a property on auction, it allows your potential customers to take an in-person or virtual tour of the property. Online real estate auction platforms provide accurate information about property details, inspections, and titles. These platforms simplify the auction process for you and your customers. All thanks to technology and auctioneer expertise.
Confident Bidding and Winning
As a realtor, your role is crucial in guiding clients through their journey of bidding and winning. When you invest in online real estate auction platforms like Bidhom, you ensure a confident and successful auction experience for both you and your clients.
Live Foreclosure Auctions Made Easy
With Bidhom, you can set up auction processes for foreclosure sales and bank-owned properties. What makes it easy and interesting for your potential bidders is that they can effortlessly track these properties. They can save an asset by getting real-time updates by email. You can ensure your potential clients never miss an online auction by sharing updates on cancellation, rescheduling, or any other change.
Streamlining Bank-Owned Online Auctions
Imagine the hustle buyers go through while registering for a bank-owned auction. If you understand this pain point and want to gain a competitive edge by offering a trusted solution, you must invest in an online real estate auction platform. Bidhom offers a hassle-free process where all your users have to do is register, fill in a few details, and start bidding.
Boosting Confidence with Proxy Bids
This is the secret weapon of every bidder. Imagine allowing your bidders to submit their highest offer before the auction begins, and a third party can bid on their behalf. This feature engages your potential customers right from the start. Let’s face it—the online environment can be intimidating. An easy-to-use tech platform can enhance the customer experience tenfold.
After a successful auction, what matters most is how a real estate auction platform can simplify life for both auctioneers and the winners. The real estate auction platform can tell right away when the auction is complete and who won. It also helps in keeping all the contracts in place. Gone are the days of manual invoicing. Online real estate auction software takes the grunt work out of paperwork by automating the invoicing process. That means winners receive accurate invoices promptly. You can empower your winning bidder with ease of payment by offering different methods, like using credit cards or online platforms. They can also access all the important documents they need through online auction software. An online real estate auction platform guides your customers step-by-step while finalizing the purchase.
What to Look for in a Real Estate Auction Platform?
User-Friendly Interface– Easy-to-use platform interface for bidders.
Customization Options– Customize auction parameters, including starting bids, bid increments, and auction duration.
Security Measures- Robust security protocols to protect sensitive information and financial transactions.
Mobile Accessibility– Accessibility on mobile devices for convenient auction participation and transaction management.
Payment Integration– Secure payment gateways, offering multiple payment options for winning bidders.
Documentation Management- Tools for easy organization and sharing of documents, contracts, and property details.
Reporting and Analytics– Comprehensive reporting and analytics tools for tracking bidder activity and analyzing auction results.
Bidder Engagement Tools– Real-time notifications, messaging systems, or chat functionality to enhance bidder engagement.
Customer Support– Accessible customer support for technical assistance, along with training resources or documentation.
Legal Compliance– Adherence to legal and regulatory requirements for real estate auctions, including property laws.
Integration with Other Services Ability to integrate with other real estate services, such as title companies or financial institutions.
Start with Bidhom today!
If there’s one real estate auction platform that has it all, it’s Bidhom. If you are a real estate business looking for a technology upgrade, Bidhom can do the work for you. With a real estate website builder with IDX and an efficient auction management platform, you can easily handle multiple auctions simultaneously without having to worry about related formalities.
Get started—it’s free!