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CARLSBAD, CA—Combining the effectiveness of online platforms with the date-certain nature of real estate auctions really speaks to the needs of sellers, Real Capital Markets' executive managing director Steve Shanahan tells GlobeSt.com. The firm recently launched an updated version of its online auction program, adding flexible pricing and compensation structures to significantly reduce disposition fees for sellers.
The program leverages RCM's database of 245,000 commercial real estate and investment-industry professionals—and 55,000 qualified principals—and utilizes the firm's extensive technology resources to streamline the auction process for investors. The program also ties compensation to a successful auction outcome, a feature many investors are seeking.
We spoke with Shanahan about the updated platform, its advantages for clients and trends in the online-auction realm.
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Carrie Rossenfeld
Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.
