Today, online real estate auction platforms have replaced small halls full of people screaming for homes and properties. So, real estate companies should learn how to build real estate auction software in a digital world.
What’s more interesting is that real estate auction platforms continue to grow. In 2002, 30% of all eCommerce transactions were performed by online auction users. With this information in mind, it becomes clear why it is profitable to own custom real estate auction platform.
So how is a real estate auction company started up? When creating a new real estate auction platform, it’s essential to follow the following steps:
- Conducting the discovery phase. Decisions are made regarding future real estate software type, its core features, and what properties should be listed there.
- Providing MVP development. It’s best to start the development process only when core features are determined, and there’s a roadmap for future development.
- Choosing the monetization models. It’s also essential to decide how the project is going to make money before commencing the development process.
- Ensuring user security. It’s crucial to include ID verification, real-time auction tracking, a ratings and review system, and trusted home listings, so that the platform is safe and convenient to use.
Auction.com is one of the biggest online real estate auction platforms on the market.
The service provides its customers with detailed information on the properties. For example, each seller must:
- upload pictures
- fill out the property description
- add documents
- write details about the property, the local area, and its amenities
Auction.com platform also provides users with an official calendar that has information about all the upcoming market events sorted by the auction date and time.
Auction.com platform also provides users with an official calendar that has information about all the upcoming market events sorted by the auction date and time.
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