Auction.com
Is This Your Business?Since 2008 when it was launched as an online auction platform, Auction.com has sold $26 billion worth of property. Auction.com works to help match property owners with prospective buyers in an online marketplace. Auction.com provides buyers with information so they can make a fair assessment while sellers can rest assured knowing they have received a true market value. Typically, it takes 60 days from the time an auction on a property is held until close. Auction.com is a company that is actively engaged with the online buying and selling of residential and commercial properties vis the Internet. On their website, they provide both residential homes and commercial properties. The online platform is designed to connect buyers and sellers, enabling them to sell many different properties, such as office, retail, multi-family dwellings, homes, and other sites. The company was originally known as Real Estate Disposition Corporation. The company is based in Irvine, California and has additional locations in California, Texas, Florida, New York, and Spain. Auction.com has over 900 employees. The company's senior management team has an all-encompassing background, boasting experience in real estate, technology, technology, and other skill sets related to commercial and residential realty. Auction.com brings properties to the market, making buyers aware of the properties through some of the best marketing principles available in the online realty sector. Auction.com is one of the leading online real estate marketplaces. It has sold more than $26 billion in various assets. It attracts buyers from more than 100 countries. Its customers include major banks and investors, individual customers, and real estate brokers and agents. Auction.com was one of the companies in the online real estate industry that we reviewed that also has commercial properties available. Properties we looked at included office spaces, multi-family dwellings, and resort properties that were either on sale or had been foreclosed upon by a bank.
Top Ranked Companies
The Good
- Customer support
- Listing information
- Lender partnerships
- A complete description of the property.
- Detailed photos of the property (not as extensive as the Realty Store).
- Information about the debt owed on the foreclosure, as well as other information about the foreclosure process and the current manager of the property.
- Information on the auction and how to participate in the auction if it is live.
- Chase
- Bank of America
- Greenlight
- Nationstar
- Auction.com Finance
The Bad
- Bidding process
- Price accuracy
- Website
- You cannot access foreclosure property information without creating an account with Auction.com (which is free).
- The search tool does not contain as many search filters as other sites, such as Realty Store and Zillow. With Auction.com, you can sort search results with the following filters: best match, auction end time, price, bid price, and square footage. We'd like to see home type, number of bedrooms/baths, and other criteria into the filtering of search results.
The Bottom Line
- Some erroneous listing of properties as being "foreclosed," when in fact the homeowner returned a property to a financing agency voluntarily.
- The lack of search filtering to reflect the type of property (specifically, in regards to residential property listings).
- Properties that had already been auctioned still being listed on the website. We feel that as soon as an auction has happened, it should be pulled from Auction.com's listings.
- Live Chat help, which is a rarity in the industry.
- Detailed photos of listings, whether or not the property was residential or commercial.
- Probably the best knowledge base resource in the industry. There are screenshots and step by step directions for how to place a bid for a property.
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