Auctions.com-new policy

[Joseph Ball]

Today, I had my second lengthy discussion with auctions.com. Their new policy allows individuals to list properties for sale. Up until now, only banks and institutions could list.

They will allow SFR, Apartments, condos, mobile home parks, mobile homes on land (selectively), mobile home parks, vacant luxury lots. You can set a secret RESERVE.

Buyer pays 5% commission. Seller pays nothing.

When you list, you are required to submit detailed information-similar to an MLS listing. You will sign a detailed listing agreement. Auctions.com will take 19 days before posting the sale. During this period, they will post on LOOPNET, other venues. A buyer can pay full RESERVE Price and buy, during that time. After 19 days, the auction sale will commence. If you (seller) should sell before they do, you will pay a 5% commission.

Advantage of this service: They say they get close to retail. Disadvantage: Takes a long time. 19 days is a long time to me.

Not sure if this is for me. I usually sell FAST! I have a couple of SFR's coming up soon. (Putting on "lipstick" now). May try. If I do, I will post again.