New App Enhances Mobile Bidding
Interested in Retail? Don't miss RealShare NET LEASE WEST on November 11-12 in Los Angeles.Start your day well-informed with GlobeSt.com's National AM Alert. Sign Up Today!
IRVINE, CA—A new mobile application from Auction.com allows buyers to bid on both commercial and residential real estate anywhere they use their iPads. The app fully integrates Auction.com’s platform and iPad’s technical infrastructure to produce an entirely new user experience, according to the firm.
The new iPad app provides expanded tools and one-touch, mobile accessibility. With a tap, users gain access to an interactive map of North America that can be refined by location, property type, opening bid, size, age and financing options. Properties and search criteria can be added to a personal dashboard that delivers real-time auction updates, reminders and full bidding capabilities. Auction.com tells GlobeSt.com that while the app is currently only available for iPad use, it will soon be available on iPhone.
According to a March 2014 report from the National Association of Realtors titled “Home Buyer and Seller Generational Trends,” more than half of Gen Y and Gen X buyers used a mobile device during their home search. Among those, 26% of Gen Y and 22% of Gen X purchased a home they found on a mobile device, making technology like Auction.com’s even more relevant.
According to Jeff Frieden, co-founder and CEO of Auction.com, “Our mission is to change fundamentally the way real estate is bought and sold. Real estate consumers are increasingly using mobile devices to search for properties to buy, and our new iPad app now lets them buy properties from across the country anywhere they happen to be.”
Frieden tells GlobeSt.com, “As the first to successfully combine the transparency of real estate auctions with the power of the Internet, we are constantly seeking innovative ways to deploy our platform and change the way people do business. With the new Auction.com iPad app, a buyer’s next home, class-A office, retail center or other commercial property is always right at their fingertips.”
Chief marketing officer David Thompson adds, “There is nothing like this in our industry. The most-popular real estate websites are seeing huge increases in mobile traffic, but their applications only help buyers locate and compare properties. This is the next step in the evolution of real estate, enabling buyers to find and securely bid on properties from virtually anywhere with confidence.”
The application, which can be downloaded for free from Apple’s App Store or at www.auction.com/ipad, is the latest in a series of 2014 technology milestones for Auction.com. In March, the company announced a $50-million investment from Google Capital, part of a strategic partnership that is focused on expanding Auction.com’s share of the global real estate market. Last month, former Yahoo! Inc. CFO and interim CEO Tim Morse became the latest high-profile technology executive to join Auction.com when he was named CFO.
As a GlobeSt.com thought leader, Auction.com provides expert commentary and analysis around economic drivers impacting commercial real estate. For MORE insights and updates on upcoming online property auctions, click here.
You can now be notified via email if this story is updated by clicking on the "Follow this Story" link. You must be a registered member to take advantage of this "members only" benefit.