Pacific Auction Exchange Grants Access of Innovative Online Bidding Service, E-PAX, to Real Estate Brokers/Agents

To help real estate brokers, agents, and industry professionals gain a competitive edge in an increasingly sluggish housing market and uncertain economy, Pacific Auction Exchange, Inc. (PAX), the nation’s only real estate auction franchise provider, has just launched its broker/agent Auction Alliance Program through E-PAX (, the company’s progressive online auction service.
“In today’s buyers’ market and with the growing acceptance of technology as a necessary tool of everyday life and business, it makes perfect sense that the country’s most progressive real estate auction franchise would launch an online real estate bidding service,” said Michael Hynes, Regional Sales Director for PAX. “Competitive online real estate bidding is being embraced by more and more real estate buyers and investors at a record pace.”
The Auction Alliance Program is yet another ground-breaking initiative launched by PAX to help real estate brokers and agents face the challenges of today’s changing real estate landscape. E-PAX allows them to sell clients’ listings faster and at the highest possible price in the current housing market.
“As the dollar depreciates in value and the U.S. economy remains shaky, we will continue to see overseas investors buying up real estate throughout the country,” said Hynes. “The Auction Alliance Program allows brokers and agents to put their stagnant properties right in front of these hungry investors looking to make quick and easy transactions through online bidding.”
Interested brokers become part of the Auction Alliance Program by filling out an application and submitting an annual fee. An Auction Account Representative from PAX provides training and support to all agents in the affiliated broker’s office, including reviewing and approving all properties for posting on E-PAX. A $1750 auction processing fee is collected from the seller, each property hosts one or two open houses, and escrow is closed in 30 days. Alliance Agents can make up to a 5% commission with minimal responsibilities/liabilities and, more importantly, generate a database of qualified buyer leads.
“The Auction Alliance Program provides all participating agents with the tools necessary to have a successful online real estate auction, backed by the credibility, brand recognition and high traffic Web site offered through the PAX franchise system,” said Hynes. “It is the wave of the future and we are providing a way for real estate professionals to differentiate their service offerings and increase the efficiency in moving properties.”
The PAX Story
PAX was established in 1999, after founder Chuck MacAtee learned that the auction method, popular in his hometown of Paducah, KY, was virtually non-existent in California . PAX began real estate auction operations in January 2001, with ground-breaking franchise operations in November 2002. Today, PAX is the fastest-growing real estate auction company in the country, uniquely positioned on the cutting edge of a rapidly expanding change in the way real estate is bought and sold. It is the only home auction company to have its own proprietary contract approved by the California Department of Real Estate.
PAX offers an affordable franchise opportunity ideal for real estate industry-minded professionals. The franchise fee is $25,000 and the initial investment range to open a PAX is between $15,000 to $20,000. Potential franchisees must have a real estate license, a broker of record and a C-Corp or S-Corp approved by the Department of Real Estate.
About Pacific Auctions Exchange – Pacific Auction Exchange, Inc. (PAX), with corporate offices in Bakersfield, CA and Pleasant Hill, CA, is the only real estate franchise company in the United States specializing in the auction method marketing. PAX was established in 1999 and began franchise operations in November 2001. Taking a strategic approach to growth, PAX plans to have 150 locations in operation by second quarter 2008. For more information, visit, (925) 933-9944 or email [email protected]