The Five Star Institute conducted a webinar Thursday, hosted by Altisource, providing real estate agents with new marketing strategies and utilizing auctions to successfully adapt in an industry that is constantly changing.
During the webinar, Travis Britsch, Director of Hubzu Operations at Altisource and James Harp, Director of Real Estate Auction Services at Alitsource, discussed agents needing to use SEMs and SEOs, display advertising on top real estate channels, and extremely targeted digital marketing campaigns in order to ensure that buyers are finding their business’ listing before they start making offers on others.
“Combining these marketing best practices with the use of an auction method of marketing strategy will allow you and your sellers to take advantage of the increased level of interest caused by auctions and the competitive nature inherent in auctions, all in order to maximize your sellers' sale price and decrease the overall selling timeline,” said Britsch.
Auctions are often not identified as a marketing strategy on its own. And according to Harp, levels of distressed inventory over the last few years show why banks and servicers had such a big need for auction. And using a comprehensive marketing intelligence like Hubzu, makes it possible for businesses to be able to identify the key drivers that improve buyer demand and bidding behaviors to boost sales outcomes.
“What we typically see is with our auction listings, we're experiencing more than twice as many bids or offers that are submitted per property for those that are in auction. We're also seeing more than three times as many page views, so the traffic that's being driven to these properties, and also close to 40 percent shorter sales times overall when you compare those to the traditional listings on our same platform,” said Sharp.
You can register to view the full webinar by clicking here.