NEWPORT BEACH, CA-The LFC Group of Cos. is expanding its online auction program to allow commercial real estate brokers to utilize the company’s platform at no cost while retaining 100% of their commissions. The program, called Never Lose a Listing, will allow brokers to set up and manage their own online auction campaign, LFC says.

Shawn Miller, LFC director of sales, notes that the Newport Beach-based company has been in the auction marketing business for 30 years, and in 2004 went online exclusively with commercial property. “Brokers are understandably wary about all the online auction companies sprouting up on what seems like a daily basis, many of which charge upfront fees,” Miller says. He points out that the LFC platform enables brokers to build and manage their own online auction campaign by creating a branded auction webpage, entering property information, uploading property documents and photographs, and setting auction parameters, such as minimum bid and bid deadline.

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