According to Greycoat real estate agency specialists, when it comes to real estate sales, online auctions are the place to be for selling property. In this last quarter, online auctions were responsible for a record number of properties changing hands. This was from the month of July through the end of September, and this is being done against a background of rising interest rates.
This last quarter was not simply a one-off. The whole increase in sales represents an increase over last year and the previous quarter as well, Greycoat real estate specialists comments. In addition, within the housing industry, it represents an increase for all online auction sites. Selling real estate in an economy that is experiencing rising interest rates can be difficult because high interest rates make it difficult for buyers.
Overall, for them to finance a home purchase. However, auction agents have figured out a path to success. Along with an increase in properties being auctioned off, Greycoat informs, there has been an increase in the fees that agents are collecting.
This is how the housing industry works. Much of their success is being attributed to the need for a homeowner to sell a house quickly. Even in a market with less demand, there are still situations where people must sell their property.
Often, this is due to a new job and this necessitates moving, and this in turn means selling your house. With fewer buyers in the market, it takes longer to sell a house, but this is where online auctions enter the picture. As Greycoat finally states, an online market brings sellers to buyers efficiently, which is likely to result in a much quicker sale than through a traditional method.