Real Estate Internet Auctions... the Next Big Thing?

by : Tom Wood

Before the Internet became popular, real estate agents controlled most of the real estate listing information. During that period, the only way a buyer could find homes for sale was by depending on an agent, looking through the local newspapers or by driving around looking for "For-sale" signs. All of these methods took time and involved considerable effort.

As the Internet became more popular and MLS (Multiple Listing Services) made their listings available to the public on-line, the information shifted from the agents to the buyers. Now most buyers find their homes on the Internet and then contact their agent to show them the homes they are interested in. On one hand it saves the agent time, but on the other it gives buyers more choices which may result in indecision and more requests for showings.

Everyday the Internet is becoming more common place for finding real estate. Now the technology is taking more of the real estate purchase transaction on-line. One example is the real estate auction.

For years, real estate auctions have been done successfully on the courthouse steps or in the front yard. Then, EBay