An auction company with a website does not necessarily translate into a successful online auction. With more than 30 years of real estate auction experience, and exclusively online since 2004, we have an established, proven auction philosophy, and millions of dollars invested in the development of an auction platform that delivers remarkable results for sellers.
FRE.com is designed to sell any type of real estate asset from commercial and industrial property, land, and residential property to REO in bulk and short sales. Additionally, FRE.com features auctions of mortgage notes and non-traded public REITshares.
No. The traditional outcry auction, where people gather at a single site with an auctioneer, is a very limiting method requiring buyers to be at a certain place and time in order to participate. Online auctions allow buyers to conveniently bid from anywhere they have Internet access.
Also, for property auctions, our two-part bidding process beginning in a sealed bid format allows the seller to determine the course of the auction. If the depth of market is not achieved, the property is not negatively exposed as it would be in a traditional outcry auction.
Finally, our auction platform is developed to capture real-time analytics and measure market response to execute an effective and successful auction marketing campaign. This valuable data is available to sellers with granted online access.
We offer different levels of marketing services: from basic signage installation and email blasts to an extensive marketing campaign executed by our in-house advertising agency. One of our sales associates would be happy to discuss your specific needs with you.
All of our auctions are conducted over the Internet on our website. This removes any barrier for an interested buyer to participate in the auction.
Most of the auctions on FRE.com are "unpublished reserve" auctions, meaning that the agreed upon reserve or release price is not disclosed to the public and you are not obligated to sell unless that price is met. If the highest bid does not meet your reserve price, you have the choice to reject, counter or accept the bid.
Absolutely! We have been selling property on the Internet for more than nine years. Purchasing real estate on our website is not that different from a traditional transaction but is more convenient. All auctions have due diligence materials available for review. Tours and inspections are also available on property auctions prior to bidding. Representation by licensed real estate professionals is also welcomed. Allowing buyers to easily participate in an auction broadens the pool of bidders. More bidders = higher price.
If you would like to discuss your specific selling needs and how an online auction can be an effective solution, please contact us and one of our auction sales specialists will follow up with you.
Yes, there is a $150 auction posting fee for each auction you post on the website.
Yes, you can sell multiple shares across multiple auctions. However, listing fees still apply on every auction. If you wish to sell shares in this manner, please contact a REITbid representative by calling (800) 494-7600, or emailing firstname.lastname@example.org.
Yes, you may sell shares from more than one REIT. Each REIT requires its own auction and a setup fee applies to each.
Please contact a REITbid representative by calling (800) 494-7600. You can also email email@example.com and a member of our auction support team will follow up with you shortly.
Once you have submitted your auction for review, a REITbid representative will verify your information with the REIT sponsor and then follow up with you directly. The REITbid representative will confirm the auction start date and the minimum bid amount, and will go over all items that were marked as pending during the setup process.
No. Once the reserve price and number of shares for sale have been set and the auction has begun, you are required to sell your shares under those conditions.
You are welcome to accept or decline any offer that is below your reserve price. You can also choose to relist your shares in a new auction in case your reserve price was not met. For additional information about the relisting process, please contact a REITbid representative by calling (800) 494-7600. You can also email firstname.lastname@example.org and a member of our auction support team will follow up with you shortly.
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