Email Preview: |
Your name saw this post on The ActiveRain Real Estate Network and thought it might be of interest to you. Please see the link below to review the post.
I Hope I Don't Regret This
Eric Michael posted an interesting blog a few months back about real estate auction sites entitled:Real Estate Auction Sites Suck. Yowza! It seems he had a rather unpleasant experience with one of the several nameless, faceless, foreclosure mill auction houses in cyberspace. Now, me being an owner of a warm, fuzzy, consummately interactive auction site tailored exclusively to the needs of Realtors®, found it necessary to call Eric to find out just what had made him so bitter. Quite frankly, I was not at all surprised by what he said. 1. Buyer was charged a 5% buyers premium if they won the auction. 2. Buyer could not have a financing or inspection clause. 3. Commission was reduced fom 3% in the MLS to 1% by the auction company. I'm not sure that Eric realized initially that he was preaching to the choir on this topic. I wholeheartedly agree with him. The big auction houses are taking Buyers, the banks, Fannie, Freddie and Realtors® for a ride. Admittedly, they do move inventory, but at a very steep price and to the detriment of the market as a whole. I explained to Eric how our system works: 1. Buyer pays a 1% Buyers Assurance fee if, and only if, ... more
__________________________________________________ Are you on The Rain? Grow Your Network!
|