News
Texas Auction Signals New Era of Real Estate
DALLAS, Nov 21, 2007 (BUSINESS WIRE) -- Williams & Williams Worldwide Real Estate
Auction, the nation's leading real estate auction firm, took another step Saturday
in its mission to bring greater liquidity to the real estate marketplace. While
online and on-site home sales have been around for years, Saturday's public auction
combined real-time online and onsite competitive bidding. This allowed the company
to sell over 175 properties from across the State of Texas for more than $20 million
in less than seven hours.
A crowd estimated to exceed 1,000 attendees came to the Dallas Civic Center for
the event, while over 600 registered bidders participated online. At the end of
the day, more than one-third of all the high bids had come via real-time online
bidding.
"What we saw in Dallas was a transformative event for real estate sales in the United
States," said Williams & Williams CEO Dean Williams. "Our company made the investment
in the technology necessary to carry out a sale like this, but even we were surprised
by the level of online participation and massive onsite turnout. It became obvious
there's still tremendous demand out there for competitively priced real estate if
sellers are open to new ways of doing business."
Williams & Williams will hold its next sale of this type, officially known as theStudio
Auction, on the West Coast during the first quarter of 2008.
About Williams & Williams
Williams & Williams is the nation's leading real estate auction firm, averaging
approximately 1,000 property sales per month in all 50 states. For more information
on Williams & Williams, please visit www.williamsauction.com.
SOURCE: Williams & Williams Worldwide Real Estate Auction