Changing the Landscape of Real Estate Businesses with On-Demand Auction Software
June 30, 2023
The number of real estate startups has greatly increased over the past decade. Home buyers and sellers are leveraging the latest technology to strengthen their brand reputation and build market awareness. If you are still leveraging other companies brands and using their auction platform, then how will you create your brand image?
Seize the opportunity to address the industry’s biggest challenges and build your brand by using real-time online auction software. Whether you are a real estate agent or broker, you can easily list and host online auctions in real-time. BidHom auction software platform allows you to list properties, integrate IDX and MLS listings, and real-time auction of listed properties.
Here, we will discuss how on-demand real estate auction software can change the landscape of the real estate business.
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Build A Digital Property Website with an Auction Platform
The future of real estate technology seems very bright. More real estate agents, brokers, and realtors are planning to implement new tech solutions in traditional business processes. On-demand auction software has transformed the real estate industry by increasing accessibility, enhancing transparency, and streamlining property selling processes.
BidHom real estate platforms offer a customizable website for agents and brokers and its auction platform can quickly turn your real estate website into a fully functioning property auction platform. Building a successful real estate website with the latest technology is all about using the right tech trends.
BidHom is helping real estate agents, brokers, and companies to digitize their businesses by driving more traffic, leads, and inquiries directly to their websites.
Also Read: 9 Never Neglecting Real Estate Marketing Strategies
How On-demand Auction Platform is Changing the Real Estate Businesses?
1. Automation Across Property Management
There are many repetitive tasks in property management. Managing each task seems to be a time-consuming process such as listing properties, adding photos and videos, marketing, managing clients, events, etc. BidHom is a real-time online auction software that allows agents and brokers to manage all their real estate properties and automates them with an easy-to-use interface.
Thus, easily manage your real estate business with the automation tool and reduce the workload of managing your property.
2. Increased Accessibility of Selling Homes
On-demand auction software has enabled real estate agents and brokers to reach a wider audience. Sellers can leverage digital marketing strategies to promote their listed properties across various channels, including social media, email marketing, and real estate listing websites with MLS property listing software. This broader marketing reach attracts more potential buyers and increases the chances of achieving optimal prices for properties.
3. More Transparent & Streamlined Auction Process
Previously, auctions were predominantly held in physical locations, limiting participation to local buyers. BidHom real time online auction software automates and streamlines the auction process, eliminating many manual tasks and paperwork. It enables sellers to create listings, set auction parameters, and manage the entire auction process online.
Potential buyers from anywhere in the world can participate, expanding the pool of potential bidders and increasing competition. Bidders can submit their bids electronically, receive real-time updates, and track the progress of their bids.
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4. Market-Driven Pricing
Online auction platform creates a competitive environment where buyers determine the fair market value of a property with proper research and can take part in the auction to bid for the property. Sellers can also generate more interest and potential among the buyers to bid for the properties.
The bidding process enables buyers to compete and set the price, resulting in properties being sold at their true market value. This eliminates the need for prolonged negotiations and ensures fair pricing for both buyers and sellers.
5. Faster Transactions
Traditional real estate transactions can be time-consuming as it involves negotiations, paperwork, and lengthy closing processes. On-demand auction software accelerates the transaction timeline by setting a specific auction period during which interested buyers can submit their bids.
The competitive nature of auctions encourages buyers to act quickly, resulting in faster sales and closing times.
How Much Does It Cost to Create On-Demand Auction Software?
The cost of creating a real estate website with an auction platform starts from $99 per month for agents while it costs $250 per month for brokers for the first 3 months. In this price range, you will get all the essential features of a real estate website and you can also integrate IDX and MLS as an add-on. However, you can also develop custom white-label solutions for your real estate business that align with your real estate brand and works on AI and ML technology.
The cost of development of an AI-powered real estate platform with auction software can range between $30,000 to $45,000. However, this cost can increase or decrease based on the features, integrations, and add-ons requirement of your real estate business.
Also Read: What Makes Online Auction the Best Choice to Sell Property?
Bring Digital Transformation to Your Real Estate Businesses
Websites and applications like Auction.com, TenX, SimpliOffer, preREo, etc. Are already gaining market potential and making it easy for the users to take part in the auction of properties. This property management and auction are engaging potential customers and selling more properties than ever.
The future of the real estate business is automation from listing the property to the auction of property. Bring digital transformation into your real estate business and get the most with real time online auction software.
If you want to grow your real estate business, then we at Clavax can help you in developing a top real estate IDX MLS website with real time online auction software to list your properties and create auctions right from your website.