Selling New Homes On Ebay? What’s Next?

August 28th, 2007 categories: Community Events, Real Estate News

Auction To tell you the truth, I think this is just another marketing tool and a very creative one at that. One thing real estate professionals like to see is activity. And this has splashed excitement all over the Internet. Made me look and I think that is just what the team at CBH was looking for.

Which houses did they decide to market this way? What was the criteria? What can they learn from this activity?

The property in Kuna is in Tomorrow’s Sub. A very nice, middle class subdivision. This house is one of the least expensive in this subdivision. One of the smaller models and it has also been on the market a long time. The asking price is $169,900 now, was at $215,000 at one time.

CHB Homes are featuring five houses on ebay,which are spread out over the Treasure Valley. This is a great way to gather some information about which markets this will work in. There is a reserve price, so they will not lose much. I find it hard to imagine that someone would buy a home without seeing the area or getting an opinion from a real estate agent that is not connected with this deal. It will be interesting to see if there is any potential of getting caught up in the excitement of the moment.

I went to a auction this summer on a 10 acre parcel just outside of town. It had been on the market for quite some time, price dropping on a regular basis. The property was in a great location for future development and I even had a buyer that was interested but waited for the auction to see if he could get a good deal. Well, a lot of people had the same idea, over 50 people were there to bid. Two buyers ended up bidding against each other. After the final bid, the property sold for the asking price…plus the commission to the auctioneer. No good deal to be found here. That buyer would’ve been better served paying a real estate professional to negotiate a much better price.

But in the end, a buyer did bite and that was more than they had at the beginning.

This Kuna property is being offered on ebay for a 10 day listing only and currently priced at $149,900.

I’ll have to keep an eye on this one!

Tags: ebay, real+estate, Kuna