I just found this very interesting article today on CNN Money.com

NEW YORK (CNNMoney.com) -- As more and more people get frustrated with the sluggish housing market, people who want to sell their homes are looking at a different tactic...auctioning off their home. We'll tell you what you need to know if you're thinking about putting your home on the auction block.

According to the National Auctioneers Association, residential real estate auctions are on the rise. From the time the group has started collecting statistics in 2003, growth of residential real estate auctions have grown almost 40 percent.
To read the rest...

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I just found this article today on CBS News. Very interesting!

(CBS) When the real estate market is as slow as it is now, homes can sit on the market for months.

But auctions, both online and in-person, are emerging as a fast sales option. In fact, an online auction could even sell a house in minutes!

Early Show financial guru Ray Martin explained how home auctions work, and when they can be a good choice for buyers and sellers, on the program Thursday. To read the rest...

Interested in learning more? Pick up our FREE report: 7 Benefits of Online Real Estate Auctions

In most areas of the country, it's a great time to be a real estate investor looking for property to buy. Investors have plenty of wholesale deals, rental properties and land deals to choose from. Sellers and real estate agents are struggling to get their properties noticed. It's not surprising that more sellers are turning to creative ways to market their properties. One such creative strategy is an online auction.

While a live auction is still a great way to sell, an online auction is much easier to coordinate and less expensive. They still require preparation, marketing and sometimes holding open houses, but a growing number of auction sites make the process easier. Sellers are finding that marketing their property through an auction gives them an advantage over everything else on the market. When driving in your neighborhood what stands out more, "House For Sale" or "Real Estate Auction"? In my neighborhood, "Real Estate Auction" wins every time. An auction sparks people's curiosity and they want to see what it's all about. It gets interested buyers and investors into the property.

Here are some more advantages for sellers who are marketing their deals through an online real estate auction:

Auctions create competition among buyers and sometimes the auction price can exceed the price of a private sale.

An auction generates excitement and heightens buyers interest.

An auction gives the property the most exposure in the shortest period of time and accelerates the sale.

The auction process provides 3 opportunities to sell - before, at and after the auction.

Auction brings interested buyers to a point of decision - they must act now or lose an opportunity to purchase the property.

The seller controls the auction process - they plan and select the date they want to sell.

The seller sets the terms and conditions of the sale while maintaining control of the property throughout the auction.

Auctions take the seller out of the negotiation process.

Auctions are an aggressive, advanced marketing program that increases potential interest in and awareness of a property.

An auction, whether online or live, helps a property stand out and that's the goal in any marketing strategy. Auctions are a very powerful, effective strategy, and especially appealing in a slow market.

If you are selling any real estate, make sure you get educated and involved with online real estate auctions.

Written by Tom Wood - Real Estate Internet & Investor Auctions based in St. Louis, MO. (877) 234-6706.

Interested in learning more? Pick up our FREE report: 7 Benefits of Online Real Estate Auctions

Right now, it's a buyer's market. Buyers have lots of properties to choose from and sellers are looking for a way to stand out. It's not a surprise that more sellers are turning to auctions for help.

Yesterday I attended a live auction in St. Louis, MO in which 6 properties were auctioned. The auction took place on the front steps of 1 of the properties. About 40 people attended and probably 20-25 took part in the bidding. Out of 6 properties, 5 of them sold at prices that, if listing in the MLS, would have sat for weeks and maybe months. Only one didn't go well (receiving only one bid) and that property recently caught fire and was a tear down in a rural area, but at least it sold. I've attended auctions before, but in this market it proved to me once again, that an auction is definitely the best way to sell quickly and for a decent price.

It's no surprise that auctions are growing in popularity, especially in the market we are in today. There aren't many other solutions for sellers who need to sell quickly and buyers are drawn to them because of the idea of a big discount.

As the market and technology changes, a shift is beginning to take place and we are seeing more real estate auctions take place online. The reason for this shift is because technology is making it easier, less expensive and just as exciting.

A successful online auction still requires planning, online and offline marketing, and sometimes holding open houses. However, all the effort pays off by bringing lots of attention and being able to condense the time it takes to sell. One of the biggest benefits is that buyers don't all have to be at one place at one time to bid. They can connect whenever and from wherever they have Internet access.

An auction, whether online or live, helps a property stand out and that's the goal for any sale. Auctions are a very effective selling strategy and especially appealing in a slow market.

Written by Tom Wood - Real Estate Internet & Investor Auctions based in St. Louis, MO. (877) 234-6706.

Interested in learning more? Pick up our FREE report: 7 Benefits of Online Real Estate Auctions

Before the Internet, real estate agents controlled real estate listings. The only way a buyer could find homes for sale was by relying on an agent, looking through the local newspapers or by driving around neighborhoods. All of these methods took time and considerable effort.

The Internet has changed the market and now about 80% of buyers begin their home search online. While it can save an agent time by not being in the middle it can also give a buyer an overwhelming number of choices.

As the Internet becomes more common place and technology continues to get better, more of the real estate purchase transaction is moving on-line. One example is the real estate auction.
For years, real estate auctions have been successful on the courthouse steps or in the front yard. Then, EBay® www.ebay.com came along and people became comfortable buying and selling consumer goods through online auctions.

A natural progression is an online real estate auction and they are steadily gaining momentum. An online auction is ideal because buyers can get details about properties without leaving their home. They can visit properties that interest them and compete fairly and equally with other buyers.

During the auction, they are able to see the highest bid placed by other buyers and control how high they go. An online auction is especially perfect for investment properties, because there is usually little emotion involved, just numbers.

As an investor selling a property, it's always more profitable to place a great deal in front of as many buyers as possible. They can take it to another level by automating an "open" bidding (offer) process.

It's understandable why real estate Internet auctions are gaining momentum, and why they are an especially good fit for real estate investment properties.

Written by Tom Wood - Real Estate Internet & Investor Auctions based in St. Louis, MO. (877) 234-6706.

Interested in learning more? Pick up our FREE report: 7 Benefits of Online Real Estate Auctions