Welcome
Thank you for your interest in buying or selling property by online home auction, the ByAuctionOnly way!
On this site you can:
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List your home to sell by online property auction and CHOOSE your sale date! PAY NO REAL ESTATE COMMISSION!
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Purchase expert marketing materials for online property auctions. (See "How To Market Your Auction" under the Sellers Tab)
- Bid on homes being sold by online property auction
- Learn more about online home auctions, online property auctions and online real estate auctions.
Why ByAuctionOnly is a win - win for both buyers and sellers
Let’s face it, when buyers come to online real estate auctions, they expect a bargain. When sellers sell at an online real estate auction, they expect their home to sell the weekend of the auction for the best price possible. Selling the ByAuctionOnly way creates a win-win for both. Here’s how:
- By eliminating the seller paid, 6% - 7% Real Estate Commission, "For Sale By Owner", (FSBO), sellers can sell their home for thousands less and still NET the same proceeds! The buyer pays a “Buyer’s Premium” of only 1% in addition to his/her bid which is significantly less than most auction houses (most charge 10%).
- Sellers using online home auctions are usually motivated, often because of selling under time constraints, creating an opportunity for buyers. Buyers like this opportunity and are motivated to buy! Your online auction creates the match!
- Our targeted auction marketing separates your home from the competition, attracting more buyers by making your home available to buyers from all over the world!
- Combine the savings, competitive edge and the excitement auctioning creates and you can see why buyers and sellers benefit significantly selling the ByAuctionOnly way!
Preforeclosures
The online real estate auction is the best selling method for sellers who are under time constraints resulting from events such as relocation or preforeclosure, particularly in the slow home selling environment we are now experiencing. In preforeclosure cases, sellers who are unable to sell using traditional methods may be left to the mercy of investors who will negotiate the equity out of the home, arguing that the seller is better off giving up their equity than they are ruining their credit via foreclosure. Online real estate auctions offer cost effective hope in these situations where sellers may capture some or all of their equity and avoid foreclosure, protecting their credit in the process.
More Sellers Choose Online Home Auctions
The majority of property auctions today are the result of sellers choosing to sell by property auction because it is a cost-effective, accelerated method to sell property. According to the National Association of REALTORS®, the value of residential and commercial properties sold at auction climbed from $49.5 billion to $58.5 billion between 1998 and 2002."
According to the National Auctioneers Association, the most significant industry growth has been in residential real estate, which grew by 12.5 per cent in 2006, generating $16 billion. Last year, residential real estate auctions generated $14.2 billion. Residential real estate auctions are the fastest growing sector of the industry and are increasingly being accepted as mainstream with the general public. "These statistics show that the general public sees the value in selling their property by auction. Buyers and sellers are both turning to the auction method and we foresee this trend continuing to increase" said NAA President William Sheridan, CAI, GPPA, AARE.
