Prior to the Internet, real estate agents controlled the listings. A buyer or investor could only find properties by relying on an agent, looking through local newspapers or driving around neighborhoods. All of these methods took time and considerable effort.
The Internet has changed real estate and now most buyers and investors begin their searches online. Today's buyer has much more information and control at their fingertips.
Now, Real Estate is progressing into another phase, the online auction phase. Not only can investors and buyers find properties online, they can now submit offers in an open forum from wherever they have Internet access. It's a great freedom, and a great opportunity.
Unfortunately, there are still too many people who have not embraced it as a means for buying. Maybe it's too intimidating, or maybe they fear getting stuck with a bad deal. Whatever the reason, it results in a great opportunity for buyers and investors who are willing to take the time for due diligence, figure out their offer and submit their bid.
Sellers, who must sell, are turning to online auctions. So, if you are interested in finding great deals, it's well worth your time to actively participate and bid on them. Not every property that goes to auction will be a great deal, but most of them will be. Take time to find online auction sites with properties in your area and get tuned in!
Online auctions are especially perfect for investors & investment properties, because there is usually little emotion involved, just numbers. Investors know how to do their due diligence, are familiar with contracts and understand terms. As a result, they can submit their bids accordingly and pick up great deals.
It's understandable why real estate Internet auctions are growing, and why they are an especially good fit for real estate investment properties.
