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Auction.com

An auction management platform for banks, real estate developers, and governmental agencies

7.2

12 Votes

This is an online site that provides a platform where auctions on property can be held. Auctions held on auction.com include small courthouse auctions to large mega auctions as well as private individual auctions.

Features

Robust marketplace

On auction.com, potential buyers get a platform that can help them meet with potential sellers.

Properties list

Organizations or individuals wishing to sell their property on auction have the capability to list them on the platform. They can then depend on the large number of users of auction.com to clinch sales and successful auctions.

Listing management portal

Displays the profiles of properties listed for auction on auction.com. The displayed information includes pictures of the properties, amenities that the properties come with, values of the property as well as fixtures that a property has.

Agent profiles

Auction agents can list their individual profiles using this feature. On their profile, agents can indicate their area of expertise, duration of experience, properties that they have actively listed as well as areas that they service.

Premium listings

To give their property added advantage in listings on the site, users can opt to upgrade to premium user capabilities and hence give their listed property premium exposure. This has an effect of more viewership and as such capable of generating additional leads.

Premium profiles

Auction.com lists thousands of agent profiles. To give agents an added advantage in terms of exposure to potential clients, they can choose to upgrade the profile to premium status. With this upgrade, advantages such as preferential display of premium profiles first and displaying of property listed at the top of searches accrue.

Comparative market analysis

Different real estate listings on the platform can be looked at side by side to provide an avenue for comparative market analysis that can then be shared with other clients.

Moreover, the listings can be used as variables and compiled into comparative market analysis (CMAs) to share with clients.

Mortgage calculators

Agents can make use of this simple add-on that calculates the mortgage rates and later use that information to advise potential buyers of their budget constraints and limits.

Advertising and marketing tools

Agents can market their properties efficiently on the platform owing to its large base of users. Premium features such as premium profiles and premium listings are also good advertising and marketing tools since they preferentially list properties and agents' profiles with a premium badge.

MLS integration

Properties listed for auction on auction.com are regularly updated with Multiple Listing Services databases. This is advantageous as it makes property lists acquire an up to date status.

Pros

  • Easy to use User Interface.
  • MLS database integration ensures listed properties are up to date.
  • Mortgage calculators make auction.com a unstop shop without the need for third party calculators.
  • Comparative Market Analysis capability is essential in ensuring potential buyers have choice.
  • Cloud based storage hence can be used across multiple devices.
  • Regulations compliant.
  • Lists diverse properties for auction.

Cons

  • Slow customer service.
  • Not mobile first.
  • Unrealistic resale estimates.

Highest-Rated Features:

  1. MLS Integration
  2. Listing Syndication
  3. Listing Management Portal

Lowest-Rated Features:

  1. CMA Tools
  2. Premium Listings & Profiles
  3. Agent Profiles
Company
Ten-X
HQ Location
Irvine, CA
Year Founded
2009
LinkedIn® Page
https://www.linkedin.com/company/ten-x (390 employees)
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