Online Real Estate Auctions Offer Extension's to Buyers
A very unique feature aids a successful online real estate auction event is the auto extend feature that allows the online real estate auctions to continue on past it's original closing time. The feature allows for the rise of competition to grow within the last minutes of the auction which is exactly the time when competition really heats up. It increases the chances of the property to be sold because it encourages the competition to extend and the best way to obtain market value for a property is through the aggressive competitive notion of bidding. This online feature was placed for the convenience of the buyer's and for the comfort of the seller, so that both sides have every possible chance to obtain the best conditions. The seller is looking for a competitive atmosphere and the extended feature allows for that buildup. The buyer is looking to gain access to the best possible property at the best possible price, and the feature works for them because they are able to control how much longer the bidding will continue. It is referred to as a dynamic closing because it filled with intrigue and excitement for those involved.
The closing time of an asset is automatically extended an additional 5 minutes whenever a bid is placed within the last 5 minutes of the asset's closing time.