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2008-07-08 22:29:17

Taking Real Estate Listings to the Next Level with Online Bidding

St. Louis, MO (PRWEB) July 8, 2008 -- RE Auction Systems, creator of Agent Auction Systems, has just released a new version of their online bidding system geared toward builders, auctioneers, banks, and high volume agents. Their new Enterprise Auction System allows companies and individuals to manage and operate their own online property auctions.

CEO and co-founder Tom Wood, a Missouri licensed real estate broker and auctioneer, says, "In today's market, it is difficult to determine the true value of a property. At auction, sellers set the terms, but buyers set the price. Sellers can be confident that the highest possible price is reached when bidders actively compete, and the Internet is obviously the way to offer properties to the greatest number of bidders at the lowest cost. It's just like having your own version of Ebay® - designed and optimized for real estate!"

RE Auction Systems' Enterprise System allows plenty of flexibility for entry of property listings, terms of sale, length of auction, and even hyperlinks to video tours or documents such as disclosures - all while providing competitive bidding to a worldwide audience 24/7/365. It also solves the main problem of timed online auctions by extending the closing time beyond the deadline when last-minute bids come in, assuring sellers receive the highest possible price.

With almost 90% of property searches starting on the Internet, online bidding bypasses the clumsy, time-consuming conventional offer/counteroffer process. It's being replaced with an interactive, always available, user friendly bidding platform. Sellers can monitor the bidding, and buyers can bid on their own schedule. Agents can effectively take offers on an almost unlimited number of properties simultaneously without ever picking up the telephone or meeting with an unqualified prospect. It also means fewer commission splits with buyers' agents and full control of the property sale.

John Bickel, a Florida licensed real estate broker and auctioneer, assisted in the development of the Enterprise Auction System, and having used it says, "This is the way of the future. I'm confident that the concept of online bidding will soon become commonplace, and sellers will expect it, if not demand it. During the testing phase of the Enterprise system, I offered a Florida property, and the high bidder was from France. That experience proved the world-wide reach of the Internet as well as foreign buyers with strong currencies being willing to buy property here sight unseen."

With everything in the current real estate industry moving online, it just makes sense that the next big step is online bidding across the board. Real Estate Auction Systems "Enterprise" version meets the need by providing a state-of-the-art platform for companies currently without online bidding.

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