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ONLINE AUCTIONS & CLASSIFIEDS Selling Basics: Part 1 of 3 Ever consider listing your home or a client's home on an online auction site? You should - because it's one of the easiest and most powerful promotional techniques available. (See our complete list of FREE links in part 3) Both home owners and agents can showcase their property to literally millions of potential buyers online, in most cases for FREE, or for less than the cost of a typical newspaper ad. When you list property for sale on auctions like ebay & Yahoo you can generate valuable leads, as well as actual bids for your property. The real power behind real estate auctions is the exposure they bring to your promotional efforts. Use them to generate leads, to harvest potential buyers and to create demand for your property. Because there are a wide variety of laws governing the sale of real estate, auctions of "real property" are usually not legally binding offers to buy and sell that property. Instead, they are simply a way for you to advertise real estate and meet interested buyers. The one disadvantage of using auctions for exposure is the lack of proprietary home information made available through the listing process. In most cases you will find only a few applicable categories, short headlines, and limited descriptions unless you are an advanced user and can include a photo or add some custom HTML code. Despite these limitations, you should not be deterred from including auctions in your marketing strategy. In fact, other specialty real estate portals and marketing services are designed to host proprietary home information for you. They can often provide you with extra services such as photo scanning, virtual tours and detailed descriptions that can easily be referenced or even linked to from an auction ad.
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