Condo.com Auction Platform- A Valuable Marketing Vehicle

Miami, FL(August 19, 2010)– Condo.com, the world’s largest condo marketplace, has established a proven platform for promoting real estate auctions through a designated portal area on their site. Several auction houses and developers are turning to Condo.com to reach a greater pool of buyers - those searching for a condo, those searching for an auction or those simply looking for a great deal. The site effectively captures a larger audience beyond the auction-niche, yet offers an uncluttered, targeted experience for both the real estate verticals. Auctions are prominently advertised on Condo.com’s homepage and readily accessible on the Auction icon. Auctions are also featured in the homepage Hot Deals rotation, attracting all buyers in search of a deal.

Auctioneers are realizing the impact of being in the front and center of the highest concentration of people actively seeking condos and upcoming real estate auctions online. Client testimonials and referrals are confirming the power of Condo.com’s platform.
 

Real Estate and Auction Company, Max Spann: “We have found Condo.com to be a great resource for referring potential bidders to our real estate auctions around the country" stated Bob Dann, Executive Vice President of Operations. “We are pleased to be associated with Condo.com…it's part of our strategic approach to marketing our auctions," adds Dann.

“We have a strategic partnership with Condo.com and use them on all of our projects as we get the national, multinational exposure needed. In Orlando, for example we have tracked a substantial number of leads from advertising an auction on Condo.com," stated Jesus Castanon, Co-Founder of Real Estate Empire, a large Florida-based Real Estate firm who has auctioned off over 300 units over the past 8 months.

Auctions on Condo.com and elsewhere are continuing to gain popularity. The real estate auction market has picked up momentum in recent years proving to be a viable solution for sellers to liquidate inventory quickly. Sellers are assured that their home will be sold on a said date and time which is especially attractive to those who have had their homes listed for over a year. Additionally, the real estate bust has placed a huge burden on banks and developers pressuring them to liquidate their properties as fast as possible and rid themselves of the financial burden incurred. As a result, many have chosen the auction route. According to the National Auctioneers Association (NAA), home auctions have increased 10% each year since the early 2000s. In the first quarter of 2010, auction sales have already grown by 17%.  

As auctions persist, the need to effectively reach the auction buyer is becoming more critical.  Senior VP of Sales, Jason Mizrachi states: “Given we are the epicenter condo search for sales, rentals and several niche inventory types, we have also strategically partnered and positioned ourselves to the forefront of the auction space. We’ve noticed an uptick in the first half of 2010 with developers opting to promptly liquidate assets and using Condo.com as the prime avenue to do so. It’s a win-win for the developer and the consumer and we excel in connecting the buyers and sellers within the auction vertical.”

Real estate marketing giant AcceleratedMP has been advertising on Condo.com for two years and most recently, within the auction platform. Marketing Director Deborah Stevens comments on the company’s experience stating: “We are aware of the typical home-buyer’s search pattern, first they search the internet. Therefore, we utilize Condo.com to get the web exposure needed so our clients’ products are seen best and first.”

About Condo.com

Condo.com (www.condo.com) is the world's largest condominium marketplace with over 800,000 listings valued in excess of $200 billion. The site receives over 1 million visitors monthly and is dedicated to the evolution and prosperity of the condominium real estate market. Condo.com improves and simplifies the way people buy, rent, sell, manage, market and enjoy the condo lifestyle. Condo.com lists condominiums for sale and for rent in the United States and 70+ countries around the world. The Company cost-effectively delivers exposure and qualified leads to developers, brokers and owners through the seamless distribution of its listings to a global network of real estate websites visited by over 15 million viewers per month.Condo.com is privately held and headquartered in Miami, Florida.

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