The benefits of realty auction Los Angeles CA

Add the action of auctions to traditional MLS listings, online marketing and discount brokerages as a viable way to buy and sell homes as the economy looks for some help with a housing hangover that swelling inventories.

by Broderick Perkins
© 2008 DeadlineNews.Com

Deadline Newsroom - No longer only for selling livestock, estate goods and vacant land, auctions have become the fastest growing way to buy and sell homes and not necessarily as a last ditch effort.

The fastest growing segment of auction's real estate industry sector, residential real estate auctions on or off line experienced a gross revenue growth of 5.3 percent from 2006 to 2007, according to the Overland Park, KS-based National Auctioneers Association, which in 2007 created NAARealEstateAuctions.com, a real estate auction multiple listing service (MLS) to handle the volume. Many, but not all, auctions are listed there.

While the ranks of traditional real estate professionals continue to slip in the housing market downturn, the real estate auction market continues to raise the bar for fast home sales. Auto auctions remain the largest segment generating $87.8 billion in sales, compared to all of real estate (residential; land, agricultural, commercial, industrial) which generated $58.4 in 2007. ...

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