Online property auctions push up prices, claims industry vet

by Diana Aqra18 Jul 2013
Buyers are more willing to bid higher on online auctions than traditional sales, according to a real estate veteran. 
 
Rick Sharga, newly hired spokesperson for Auction.com and former executive vice president for Carrington Mortgage Holdings, has claimed the online format can spur buyers to bid higher than traditional channels.
 
Sharga reasoned that there are typically more bidders on online auctions, encouraging buyer activity. Moreover, Sharga claimed, people are more likely to bid higher when they can visually see the highest bid and know if they are winning. 
 
The online platform gives buyers the opportunity to consumers to put their highest offer on homes, Sharga said. 

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