Two commercial real estate investors who specialized in commercial real estate turned what appeared to be a disaster into an amazing success. Think back about 5 or six years ago . . . now think about commercial real estate. Correct - the commercial side off the industry was in a deep coma, no sign of a pulse. Dead, kaput . . .
Then came Keith Yang and Joe Tang from California. They found themselves in a precarious position when they were holding too many commercial properties and the market took a serious nosedive, stranding them and all their capital. They used every conventional method plus some they could think of to sell their property. It was looking like they were going to take a hit financially.
But then something dawned on them while examining their options with online auctions. They didn't like how the auction industry was operating. It was confusing and messy. One thing led to another and a year and six months later, Mr. Tang and Mr. Yang went live with www.auctionpoint.com.
To say that these two fellows revived a dead industry single handedly would be an understatement. They turned the entire industry around and then some. Investors like LoopNet have sunk big dollars into their company, and for very good reason . . . these guy's have the auction business sewed up.
Their methodology is simple; customize everything and focus entirely on the broker/agent. Their model of online auctions has been so successful, nearly every major real estate firm on the commercial side is partnering with them. If you have yet to take a look at their system and technology, I recommend you spend some time there. They have truly re-engineered the online auction business.