IRVINE, CA—Auction.com has been recognized by HousingWire magazine as a leading tech innovator in the US housing economy. The firm was chosen as one of the 100 most-innovative technology companies for housing out of the more than 400 firms HW TECH100 considered.
The list, which is the first to look at the entire housing economy, also includes Accenture, CoreLogic, Xerox and Zillow. The publication estimates that 600 technology firms serve residential real estate, residential mortgage lending, servicing and investments.
According to Paul Jackson, publisher and CEO of HousingWire, the housing economy represents about one-third of the US economy, and it’s important that firms like Auction.com are recognized for their contributions. “The revolution in mortgage and real estate technology is just getting started. What we’ve already seen happen in many other industries, from retail to new media, we’re now seeing take place on a grand scale in the US housing economy. The HW TECH100 recognizes those firms that are innovating the future of an industry that underpins much of the US economic engine.”
Auction.com has sold more than $20 billion in residential and commercial real estate since 2010 using state-of-the-art technology. By attracting a global pool of qualified buyers to an easy-to-use, transparent platform, the company’s auctions establish a fair market value for the sale of residential, multifamily, office, retail and other properties.
“Our vision is to leverage the power of the Internet to fundamentally change the way people buy and sell real estate,” says Jeff Frieden, CEO and co-founder of Auction.com. “We believe that technology, intelligently deployed, can make real estate transactions easier, more transparent and more efficient, and we are honored that HousingWire has recognized the technology innovations we are bringing to market.
As GlobeSt.com reported earlier this week, Auction.com is the recipient of a $50-million investment from Google Capital. As part of the deal, one representative from Google Capital will join the Auction.com board of directors and another will take a board observer position.