Auction.com

(11)
3.7 out of 5 stars

Working directly with lenders, financial institutions, developers and private parties, Auction.com conducts auctions throughout the United States and abroad, ranging from live ballroom mega-auctions to local on-site and courthouse auctions, plus online auctions through the use of our proprietary and best-in-class online auction platform.

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Auction.com Reviews

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Showing 11 Auction.com reviews
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Auction.com review by Peggy N.
Peggy N.
Validated Reviewer
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"Very Useful for Our Investors"

What do you like best?

It gives us a good view of existing properties going up for auction, bank owned or foreclosures. Gives us enough information in a timely fashion to decide whether to pursue the property or not.

What do you dislike?

It is not the most attractive website, still it gets the job done.

Recommendations to others considering the product

If you know you're stuff it gives you enough info to make a decision and act on it.

What business problems are you solving with the product? What benefits have you realized?

We're constantly on the lookout for flip potentials in our area. We know the area well enough to know from size, area and street whether a property has enough potential. Auction.com gives us enough information to add or not add a property to our list to pursue.

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Auction.com review by User in Commercial Real Estate
User in Commercial Real Estate
Validated Reviewer
Verified Current User
Review Source

"Great source for buying opportunities"

What do you like best?

properties not found on traditional commercial real estate website:

• unique properties

• properties listed by residential agents who don't have access to commercial real estate multiple listing services (AIR, CoStar, etc.)

• Auction.com market puts properties in front of buyers our normal marketing wouldn't

What do you dislike?

Highest bidder at an auction does NOT mean the buyer can purchase a property. I was the winning bidder on a property THREE TIMES but the mortgage guarantor seller rejected my offer every time... then sold it for less at the 4th auction where I decided not to bid again... and sold it a lower price. Definitely seemed unscrupulous.

HIGH commission cost to seller (usually 10% once Auction.com + listing broker + buyer's broker combined)

NO way for buyer to resolve seller misrepresentions since sales are AS IS to winning bidder

short time for buyer to obtain financing

buyer's agents' commissions sometimes below comparable market

registering buyers is problematic since both the buyer AND the buyer's broker have to register separately... and Auction.com can void registration if not done perfectly

Recommendations to others considering the product

read and understand ALL of the fine print in the Auction.com terms... whether you're the buyer, seller or agents involved. DEFINITELY not the same as your typical sale

What business problems are you solving with the product? What benefits have you realized?

finding "off market" or "unique" properties

marketing properties to a larger market

forcing buyers to take properties AS IS or lose their deposit... GREAT for problematic buyers who think opening escrow is the start of the 2nd round of negotiations

What Multiple Listing Service (MLS) Listing solution do you use?

Thanks for letting us know!
Auction.com review by Stephen K.
Stephen K.
Validated Reviewer
Verified Current User
Review Source

"Auction.com"

What do you like best?

I find their blogs to be highly useful for clients that are interested in finding an auction property. It gives clients access to bank owned property information which is hard to come by.

What do you dislike?

Auctions tend to be the lower end real estate which isn't very exciting for my clients but hey it gets the bills paid. The photos of the properties are less than desirable but that comes with the auction market.

Recommendations to others considering the product

It is a great resource for clients interested in investment properties.

What business problems are you solving with the product? What benefits have you realized?

Finding auction properties as investments for my clients. This is a great resource with bank owned properties available at your finger tips.

Auction.com review by John M.
John M.
Validated Reviewer
Review Source

"John McMahon Acadia - Auction.com Review"

What do you like best?

I like the push notification system they have. It is nice having the email alerts through their partnership with Real Estate Investment Smartbrief. It is something I can browse at my leisure. It is interesting to follow the auctions, and it helps me understand the value and trends the real estate is going. I also like how the properties are ranked by value in the blast emails.

What do you dislike?

Personally, auction . com does not fulfill all of my specifications for property markets. The New York City market is important for many real estate professionals, and is not represented very well on auction.com.

Recommendations to others considering the product

Auction.com is a cool, fun and interactive way to participate and monitor the real estate marketplace. I would recommend it to any of my colleagues.

What business problems are you solving with the product? What benefits have you realized?

I am able to see how property values vary across asset classes and regions. I am also seeing what people are willing to pay for a property, which helps me understand its intrinsic value.

Auction.com review by User in Financial Services
User in Financial Services
Validated Reviewer
Review Source

"More of a directory than anything else - Auction.com does not control the listings"

What do you like best?

Nice layout and has a relatively good search capability

What do you dislike?

The trust and safety of the site is debatable. I would not trust sending my money to them, as it is not clear whether they have the authorization to be listing the property in the first place. Each buyer should do their own due diligence. Properties can be found here, but I highly recommend transacting directly with the owner off of the site.

Recommendations to others considering the product

Do your own due diligence and transact directly with property owner.

What business problems are you solving with the product? What benefits have you realized?

I use it as a data source for seeing distressed properties. Benefit is it is a single source for searching by geo and other parameters.

Auction.com review by User in Real Estate
User in Real Estate
Validated Reviewer
Review Source

"Auction - Looking for properties to buy for clients"

What do you like best?

Auction.com is very useful when finding properties (typically) at a discount for clients. Always seemed like it was a good deal for customers.

What do you dislike?

The one item that I wasn't a big fan of about Auction.com was that if we wanted to buy a property before the auction - we were not ableo to do so. I guess that is the point of an auction, but sometimes it would have been nice to put an offer in prior to the auction time frame.

Recommendations to others considering the product

Potentially allowing users to write offers early.

What business problems are you solving with the product? What benefits have you realized?

Finding any and all properties for potential clients.

Auction.com review by David J J.
David J J.
Validated Reviewer
Verified Current User
Review Source

"Good Auction Website"

What do you like best?

Website is easily navigated for both agents and customers. The listings included are often times not on the MLS.

Offers alerts.

What do you dislike?

Tend to be lower valued properties and the commissions can be nonexistent for buyer brokers.

Recommendations to others considering the product

Offer more commission to buyer brokers.

What business problems are you solving with the product? What benefits have you realized?

Concentrated market of investment properties for clients.

Auction.com review by User in Real Estate
User in Real Estate
Validated Reviewer
Verified Current User
Review Source

"Great Platform for Online Purchases"

What do you like best?

Easy and reliable. This helps me find properties for sale across the nation without having to search for agents to help me.

What do you dislike?

Auctions with reserves higher than market value.

What business problems are you solving with the product? What benefits have you realized?

Finding properties without having to engage agents in an area I don't know.

Auction.com review by Irys M. Citko, M.
Irys M. Citko, M.
Validated Reviewer
Review Source

"Used auction.com in the past, great site! "

What do you like best?

The ease of finding properties and bidding is super easy too!

What do you dislike?

Dislike bidding at the end, it seems as though you might be bidding against a computer.

What business problems are you solving with the product? What benefits have you realized?

market comps and who and what is selling currently, or foreclosed.

Auction.com review by Jackie T.
Jackie T.
Validated Reviewer
Review Source

"Properties are over priced"

What do you like best?

By the time one makes an offer, these properties are way overpriced

What do you dislike?

Price way too high-- not cost efficient at all

What business problems are you solving with the product? What benefits have you realized?

INSTANT EXPOSURE TO THE INVENTORY

Auction.com review by User in Real Estate
User in Real Estate
Validated Reviewer
Review Source

"experience was fine. the side has everything i neeeded"

What do you like best?

tI really like how all of the pictures are visible on the screen, the description of the property, the convenience aspect and the street view.

What do you dislike?

If you bid on a property and you're bid doesn't meet the reserve they will cancel the bid and start over or they have an in-house bidder to boot.

What business problems are you solving with the product? What benefits have you realized?

not having any business problems

Kate from G2 Crowd

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