This online auction is proof that there are still buyers out there in the market for a new home, and they would much rather get a deal on a never-lived-in home than a foreclosure
Newport Beach, Calif. (PRWEB) August 9, 2008
The LFC Group of Companies, the country's premier online real estate auction firm, delivered yet another successful auction marketing campaign, selling new homes in Southern California's Inland Empire through an online auction on its Freedom Realty Exchange website (http://www.FRE.com/215R9).
Total high bids topped $8 million as bidders actively competed for the brand-new homes located in two communities, Redlands and Moreno Valley. Placing more than 200 bids throughout the online auction campaign from their own computers instead of in a stuffy, chaotic hotel ballroom or convention center, homebuyers took advantage of Freedom Realty Exchange's transparent online auction process to monitor the bidding process and determine whether they could make a wise investment while staying within their budgets.
"This online auction is proof that there are still buyers out there in the market for a new home, and they would much rather get a deal on a never-lived-in home than a foreclosure," said Bill Lange, president of the LFC Group of Companies. "Since homebuyers appreciate and embrace the simplicity of our online bidding process, they were able to find those homes through us."
The fervor of the bidders pushed the online bidding into Last Call®, extending the bid deadline each day for two weeks and then each hour until the bidding ceased in the eleventh hour of the fourteenth day, bringing the auction to a close. High bidders were thrilled with the incredible deals they received on their new homes, while the seller was satisfied that the auction found enough buyers to swiftly close out his inventory.
In the end, the auction marketing campaign produced more than 13,000 unique visitors to the auction-specific webpage on FRE.com and nearly 400 registrants, resulting in all homes sold.
This auction marketing campaign was another landmark event for the LFC Group of Companies, in its mission to help buyers and sellers connect online through an innovative and convenient auction process. For more information about Freedom Realty Exchange's online auction marketing program, go to http://www.FRE.com.
Freedom Realty Exchange - part of the LFC Group of Companies
For more than 30 years, the LFC Group of Companies has served numerous Fortune 500 companies, real estate developers, investors, financial institutions and government agencies by auction-marketing thousands of commercial, industrial, land and residential properties with an aggregate value well in excess of $5 billion. http://www.FRE.com