Real Estate

Auction software for real estate: how does this work?

13. 10. 2021
There are different ways to buy or sell a property. A real estate auction is one of them. Not that long ago, real estate auctions were an offline endeavor but nowadays the auctions can take place in an online or hybrid environment too.

Auction software for real estate: how does this work?
There are different ways to buy or sell a property. A real estate auction is one of them. Not that long ago, real estate auctions were an offline endeavor but nowadays the auctions can take place in an online or hybrid environment too.

How does an online real estate auction work?

Basically the same as an offline auction, but a client can view the property online and also bid online. Real estate auctions are often arranged by an auction house. The seller of the property can be the former homeowner, the builder, the government or the bank.

How do I organize an online real estate auction?

At first, you will need auction software to organize an online auction. There are multiple software vendors who offer this software, so keep the following features in mind when choosing a software platform:

- High quality video
- Real-time bidding and video
- Different auction types
- Connection to existing business systems and information
- Security
- Performance

These features can make or break your auction. WeAuction offers all of the above, so you have everything you need to organize a successful auction. Want to know more about why these features are important? Read our article about it.

How does online auction software help me get more bidders?

Every auction benefits from more bidders. It makes the auction more interesting and most of the time more bidders lead to a higher price. Online auctions can be attended from anywhere around the world, the only thing you need is an internet connection.

WeAuction has many years of experience in the auction industry. In these years we have learned exactly how we can help our clients to attract their goal audience to their auctions.

What are the advantages of auction software for real estate?

Auction software for real estate is especially designed to support all different types of real estate auctions. Bidders are no longer required to travel to the auction house to attend an auction, but can do so from the comfort of their own home. The user interface is optimized for real estate, and makes the auction a smooth process. During our years of experience WeAuction has continuously innovated and optimized the auction software for real estate.

For example, the possibility to design the layout of your auction page is added, as well as optimized security, and the option to connect the software with your existing business applications.

What is the difference for potential buyers?

One of the big differences is the possibility to attend the auction online. However, the auction experience remains practically the same for the bidders. The auction can be attended real-time, and sometimes there is even an auctioneer to guide the process. The only difference is the added benefit of flexibility in location for the bidders.

Furthermore, for the auction organizer, one of the benefits of using auction software is learning more about potential buyers. With this information, you can attract possible buyers for your next auction.

Attending a real estate auction as a potential buyer

If a client plans on bidding at an online real estate auction, the same rules apply as for offline real estate auctions. Which means online real estate software can handle a deposit and also auction fees and commissions can be part of the auctioning process. So for the client, the same rules apply in online and offline auctions.


Interested in what WeAuction can do for you? Request a free demo.