EscapeArtist unveils its International Real Estate Auction website

While live real estate auctions are hardly newsworthy, this one claims to be different.

“What separates our auction website from all of the others” said Mr. Langer “is that we have a live global auction, with online bidding. This creates exposure and excitement in the buying and selling of real estate. The bidders must pre-qualify before the auction and then are free to bid on any property they choose”

“One of the major advantages for the seller is that we have direct exposure into the foreign market, where many currencies are strong versus the US dollar. This enables the buyer whose currency is the English Pound or Euro to more easily afford American real estate, and allows the property owner to realize a fairer price”

“Our accelerated marketing program involves the public sale of a property through open, competitive bidding, by creating worldwide exposure and excitement and bringing qualified buyers who bid against each other.”

While a real estate auction was once viewed as a desperation move, the last resort before repossession, this is no longer the case, claims Joel. “It used to be that the only properties listed were ones which couldn’t compete on the real estate market – fatally flawed properties. Now you see everything from Caribbean Islands to multi-million dollar luxury homes. People realize that the marketplace has truly become global, and they are no longer restricted to selling through conventional methods.”

I asked Joel how much it would cost to list several hypothetical properties on their website, a $250,000 Idaho single family home and a $2,000,000 Key West beachfront.

“There is no fee for the EscapeArtist listing or promotion. The costs incurred by the owner would be additional Internet marketing, local or international print publication costs, and brochure printing and distribution. These are tailored to the individual client.”

“Also” Joel points out “it takes exactly as much effort to advertise the $200,000 home as it does the $2,000,000 home.”

What if the highest bid isn’t what the owner wants? “Then the property doesn’t sell. The owner sets the reserve bid – if that’s not met, then there’s no deal. It’s that simple. But having said that, if the property isn’t realistically priced for the current local market, then you probably shouldn’t expect a sale.”

“Everyone understandably wants what their real estate would have brought two years ago, what it used to be worth. But that just won’t happen. What will happen is it will sell for fair market value. Fair market value is the price for which property sells for on the open market between a willing buyer and a willing seller.”

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