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
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.