Tom Wood's (reiauctions) Blog

“Do online real estate auctions really work?” is a common question from anyone new to using online auctions to sell a property. 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 common question from real estate agents who are new to online auctions: "Will it work in my area?" The answer is that as long as people in your area have access to the Internet, than yes it will work. If people have no access or only slow dial-up than it will still work, just probably not as ...

The traditional way of selling properties involves listing in an MLS, doing some advertising and maybe holding some open houses. It works okay if you have lots of patience, but how do you stand out from every agent with every property doing the same thing? How do you create a sense of urgency for...

I've been using online auctions for almost 4 years and we've developed a premium online auction system specifically for real estate. Bottom line: Online auctions work and work extremly well.  However, I've discovered many Realtors don't know how to use them successfully. To help meet the need I j...

There's no question the Internet is an important part of any real estate business. I can't imagine there's any active real estate agent who doesn't have a website or a least a web page on their company's site. After all, with over 84% of buyers searching for homes online, you'll struggle to compe...

Last Friday we captured the end of one our customers online real estate auctions on video. This 2 minute video is a great example of the bidding frenzy that can occur as an auction winds down. What's especially interesting in this example is that the listing agent didn't do any of the things we ...

I've attended several "live" real estate auctions in the past to observe and learn. Most of them I've attended were successful, but I've also attended a few that haven't been. There was even one I attended that didn't receive a bid. I really felt bad for the auctioneer and the seller. All the tim...

The most common question asked by a bidder during a real estate online auction is "What is the reserve price?" In other words, what is the bottom line price you will take? Would you ever tell someone your bottom line price when you're selling a property? I hope not. If you do, you've just lost al...

I'm been involved in online bidding for about 5 years now.  When the right strategies are followed it's a very successful and proactive approach to selling a listing.  It's so much better than the alternative of sitting and waiting for an offer, continually lowering the price and hoping agents wi...

In this tough market, it's a pleasure to be able to share something that is working. Join me on Thursday Dec. 11th at 1 pm CST to learn how online bidding works and how Realtors are getting multiple competing buyers for their listings. Click here for more details