Prior to the popularity of the Internet, only live auctions were available. A live auction is successful in drawing attention, but they require coordination, advertising and auctioneer fees. It's not uncommon for a seller to pay thousands of dollars upfront and it doesn't guarantee a property will sell. Live auctions are still successful today and there will always be a place for them.
Today, the Internet is changing the real estate auction industry. An online auction can be just as successful in drawing attention and doesn't require as much cost upfront. The success will still be related to how well it is advertised and whether it's a good deal, but an online auction is an easier alternative and available to more sellers. In today's market where properties are not selling as fast, sellers are looking for more options. As a result, more sellers are turning to online real estate auctions as a solution.
Another reason that online real estate auctions are becoming popular is because buyers are more comfortable bidding online. No longer are online auctions just for ?as-is?, sight unseen properties. Some sellers are helping encourage bids by giving access to the property, allowing inspection periods and/or providing inspection reports. Another reason for their popularity is that it's easier to bid than to write up a sales contract. All negotiation is automated and done on line.
The winning bid on an online real estate auction site like EBay.com or REIAuctions.com is similar to a verbal commitment. It doesn't become binding until a sale contract is signed. That doesn't mean a bidder should not be serious about following through, but it does allow them to submit bids without worrying about getting ?stuck? with a property if a problem is uncovered.
However, it's now a buyer's market and that's changing how online real estate auctions are run. For example, more and more auction listings provide buyers a way to view a property and do their due diligence before bidding. As auctions are still the best way for a seller to get their property noticed, it's not a surprise that more sellers are combining that marketing power with flexibility to make their property more appealing.
An auction is still the best way to market or find a deal on a property. As buyer confidence grows and the online Real Estate auction success continues, more sellers will move to online auctions, changing the way real estate is bought and sold for everyone.
Online Real Time Strategy Games
While almost everyone uses online video, many marketing professionals have left this resource untapped in favor of more traditional, time consuming methods. For tech-savvy Realtors it can be a huge opportunity to advertise home listings and services prominently where other marketers have been unsuccessful. With so little competition for a huge viewing audience, Realtors who do produce videos can quickly generate attention, and rank highly in search engines for keywords in their market.
Online real estate video can generally be separated into two categories: podcast content, and promotional content. These categories typically attract different audiences, and can play off one another to produce a well-rounded video marketing campaign.
Podcast content should cover subjects that can regularly updated for viewers who want to stay current on their market. Such material might include new home listings, market trend reports, neighborhood reports, and mobile phone-ready home tours. Podcast videos are usually more dialogue-oriented and longer than promotional videos.
Promotional content is the more common form of real estate video production, and typically includes company descriptions, website introductions, and traditional home tours. These videos are generally shorter in running time, but more visual and eye catching than podcasts.
Quality control can go a long way in both podcast and promotional content. As real estate video has evolved, successful producers have learned to avoid things like static shots that simply pan from side to side or zoom in (a photo is more practical for this because it provides higher resolution and allows the view to focus on the area of interest), cheesy background music, and vague, overly emotional language. Realtors need to keep in mind that people watch videos for entertainment as well as information, and produce accordingly.
Video's popularity has not gone unnoticed by software developers and search engines. Google's high-priced acquisition of YouTube was a clear indication of this, and a green light for the future of online video, prompting huge demand for video-related tools, services and hosting sites. Some of the more interesting developments in this area include video search engines that can parse dialogue and imagery, real estate video production companies and tools, and marketplaces which bring real estate agents and video producers together. Video mashups with other tools have also opened up new avenues for real estate buyers and sellers - one popular example is an application that combines home video tours and online mapping, allowing home tours to be searched on the map - but again, competition among Realtors is low here.
Coming up with an effective real estate video campaign may be a little harder than simply creating another webpage, but it's worth every effort.
Both Tom Wood & Nick Viale are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
Tom Wood has sinced written about articles on various topics from Debts Loans, Cars and Marketing Strategies. Written by Tom Wood - CEO of REI Auctions - Real Estate Internet & Investor Auctions based in St. Louis, MO. (877) 234-6706. Free report: 6-Ways to benefit from online aucti. Tom Wood's top article generates over 27100 views. Bookmark Tom Wood to your Favourites.
Nick Viale has sinced written about articles on various topics from Family Travel, Real Estate and Real Estate. Nicholas Viale is an experienced Costa Rica real estate professional. Visit his website for extensive area information, a guide to finding homes, seller's tips,. Nick Viale's top article generates over 9900 views. Bookmark Nick Viale to your Favourites.
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