Presentation: Trajectory of Real Estate
Presentation: Trajectory of Real Estate by Rick Sharga, Executive Vice President of Auction.com.
This presentation was given by Rick Sharga from Auction.com. Over 90% of real estate transactions that took place in 2013-2014 started with an online search, and this is just the beginning of the online trend. The transition is from information-oriented sites to transaction-oriented sites. Historically, the realtor has had control of the transaction; more and more now the consumer has the control. Transactions are what Auction.com focuses on, and they have sold $30 Billion of assets since 2007. Auction.com has a date-specific, time-certain close, with the average deal closing within 30 days. Furthermore, most people who buy on Auction.com are able to get financing within 30 days. The financing component will get more and more important and Auction.com will launch a financing portal in less than a month.