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RealtyTrac and Bid4Homes team up to provide online auction marketplace

National Mortgage Professional
Jun 30, 2008

RealtyTrac and Bid4Homes team up to provide online auction marketplaceMortgagePress.comforeclosure properties, real estate auctions, real estate brokers RealtyTrac, an online marketplace for foreclosure properties, announced a new partnership with Bid4Homes, an online auction site specializing in distressed property from banks, government agencies and private parties. The partnership enables RealtyTrac users to research and bid on a wide selection of online real estate auctions nationwide. The Bid4Homes proprietary Web-based applications and patented deposit system make it easy for real estate brokers, agents, return on investment (REO) asset managers and private sellers to list homes for auction on RealtyTrac. In addition to bank-owned properties and properties from private sellers, Bid4Homes offers forfeited properties from the U.S. Marshals Service, seized properties from the U.S. Department of the Treasury and tax-foreclosed properties from more than 50 counties nationwide. RealtyTrac's foreclosure property listings will also now be accessible through the Bid4Homes Web site, providing users with more choices and the ability to compare properties with others up for auction on the Internet. "We're excited to team up with Bid4Homes and its sister site Bid4Assets, which have experienced enormous success in the online real estate auction space, with more than 50,000 property sales in 50 states," said Rick Sharga, vice president of marketing at RealtyTrac. "This partnership affords our users more choices of properties and another convenient way to buy real estate. Our users will now be able place online bids on properties being auctioned by Bid4Homes while never leaving the RealtyTrac Web site." "Combined, Bid4Homes and RealtyTrac have more than three million subscribers who are interested in buying real estate. That's tremendous value for REO asset managers. It only makes sense to capitalize on the efficiencies of the Internet, particularly in a slow market. Online auctions have unlimited reach," said Lisa Lauroesch, vice president of business development and REO sales at Bid4Homes. "Bid4Homes integrates online auctions with listing and buyer's agents or directly with the homeowner to provide end-to-end asset disposition services for banks and home sellers. Our sellers experience incredible success rates on Bid4Homes. Over a quarter of the properties listed sell within 14 days and of these, 60 percent exceed the seller's asking price." For more information, visit www.realtytrac.com or www.bid4homes.com.
Published
Jun 30, 2008
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