Jason Allnutt serves as CEO of Auction.com, the nation's largest online real estate transaction marketplace focused exclusively on the sale of bank-owned and foreclosure properties. The company brings a breadth of quality assets to the market, attracting prospective buyers through world-class marketing and leveraging a scalable technology platform to conduct transactions in a transparent, efficient manner.
Over the past 10 years, Auction.com’s brand has become synonymous with digital innovation and client service in the real estate industry. Our company transformed the way buyers and sellers interact by making it possible to transact foreclosure, CWCOT and REO sales online. Our controlled and efficient auction processes have revolutionized the way our clients manage their portfolios to achieve higher sales rates, while increasing sales execution, reducing timelines and mitigating risk.
In today’s market, many investors appreciate foreclosed properties’ value as investments because they are generally more affordable to obtain and later renovate for resale. Particularly when marketed on an online real estate marketplace, foreclosure properties are often easier to locate as a well-equipped platform maximizes the number of views a property receives, and is accompanied by valuable information about the properties’ condition, tax liens, etc.
For anyone actively working in the mortgage industry, it’s no secret that reverse mortgages have taken a brutal hit in the last two years. The U.S. Department of Housing and Urban Development issued major program changes at the end of 2017 that effectively limited the amount of proceeds and the number of people who could qualify for the loan. The result had lenders across the space enduring sizable volume drops and subsequent gashes to their bottom lines.