The real estate marketplace has seen its share of transformation over the years. The advancement of online-based technology has led e-commerce to become one of the most influential developments of the internet age. To date, one of real estate’s biggest shifts has been in the online auction marketplace.
Online real estate auctions are a result of the demand for a more effective way to dispose of distressed properties during the financial crises. But this method is no longer reserved for foreclosures. The shift in the industry towards online purchasing makes online auctions a strategic approach for buying and selling residential and commercial real estate for all sectors of the market.
This method provides a quicker turnaround of property, more exposure, and maximum response which culminates to create additional demand. It is a more efficient and cost effective way to sell property and thus can generate higher sales prices compared to conventional methods.
In business for over 52 years, Hudson & Marshall is the most seasoned real estate auction company in the country. They have generated trust in the marketplace, have experience that is unmatched by any competitor, and have framed their strategy around the customer experience. Hudson & Marshall built its exceptional reputation over the years through loyal partnerships with local listing agents and brokers, as these professionals have a direct pulse on the local market dynamics.
In 2015, owner Dave Webb merged Hudson & Marshall with the leading innovative technology-driven real estate asset disposition platform, Genesis Auctions. Genesis Auctions was founded by Trixy Castro (formerly Weiss), now co-owner and CEO of Hudson & Marshall. The union of these two powerful entities blends traditional real estate business with groundbreaking technology.
As a combined force, Hudson & Marshall has a strong foundation with an extensive online database, bringing together borrowers, investors, servicing technology and processes. Hudson & Marshall now offers a full suite of technology driven, high performance auction solutions for both traditional and new programs well ahead of industry trends. Hudson & Marshall’s clients range from first-time home buyers to high-net worth investors, as well as individual sellers to the nation’s leading servicers, banks, credit unions, government-sponsored enterprises, government agencies, and private equity/hedge funds.
Since 2015, Hudson & Marshall has made considerable investments in its internal and external technological advances. This includes a new online auction platform with program-specific marketing strategies. The website content has been enhanced and H&M Gateway blog was launched. Educational webinar programs were introduced as a way to increase consumer awareness of different auction programs, in addition to other campaigns.
As a result of these advancements, there has been significant growth in online auction sales. New auction registrations increased by 183% and new online offers increased by 186%. The number of offers increased by more than 200% per asset in 2016 alone.
Hudson & Marshall strives to expand access to real estate across the US through its marketplace, allowing consumers to purchase properties that used to be out of reach. Online auctions provide transparency which helps to establish true market value of the property. This is beneficial for both buyer and seller. As the trend of “going online” continues, every capacity of the real estate transaction marketplace changes with it.
Technology allows consumers to participate from anywhere, at any time. Although technology has drastically changed the way that real estate is transacted, Hudson & Marshall keeps at its core the central foundation of the real estate industry - the human element.
“We are ONE company now, stronger and better because of the merger, a true real estate marketplace, and we are very excited for what is happening in 2017,” Castro said.