SAN DIEGO--(BUSINESS WIRE)--Auction.com, the global leader in real estate auctions, is set to launch a unique California homeowner program that will change the real estate sales process forever. For the first time, homeowners can sell their house on Auction.com and pay only a 1% listing broker commission upon sale. This innovative opportunity opens first in San Diego on September 25, 2010. Auction.com receives millions of online visitors, the most in the nation, and over 20,000 homes on Auction.com sold in the last year alone. The high online traffic of Auction.com dramatically increases the opportunity for homebuyers to sell their property in 90 days or less – half the time of a traditional 180-day listing contract.
Drew Lieberman, a former eBay Vice President, is heading the new real estate auction model with Alex Davis, a prominent multi-million dollar Beverly Hills broker.
“We’ve created a new platform for sellers to sell their houses faster, easier and achieve market pricing with lower fees and complete control,” says Davis, Auction.com’s Managing Director.
Once the online listing is created, Auction.com incorporates important elements of the traditional real estate sales method such as broker commissions, open houses and the Multiple Listing Service (MLS), coupled with the innovative elements of the online format.
Additionally, Auction.com leverages its massive international marketing campaigns to drive qualified buyers globally. This program creates an opportunity for multiple buyers to set a fair market value by bidding for properties up to their highest potential.
“Nothing like this has ever been done before,” Davis says. “This is the future of the Real Estate industry as it integrates social media, global outreach, and the power of competitive bidding.”
Auction.com
Established in 1990 as REDC, the company pioneered the model for modern real estate auctions and transformed into the comprehensive real estate services company. Auction.com established industry dominance by selling over $8 billion in real estate assets at auction since 2007. The company’s success is based on the aggregation of real estate assets that are marketed and sold in large format auctions across the country and online. Auction.com is headquartered in Irvine, California.
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