Marina del Rey, Calif.-based AuctionPoint Inc. has launched an online commercial real estate auction platform that allows local brokers to customize and manage the auction of a featured property.
AuctionPoint co-founder and CEO Joseph Tang say the technology gives brokers greater control than other online auction platforms do.
"At a time when distressed commercial properties are on the rise, we believe brokers best understand their local market and are best suited to find qualified buyers for properties for efficient and faster closings," Tang says.
Brokerage firms and brokers can use the platform to create dedicated auction sits for specific properties. Each customized site includes a pre-set minimum bid, detailed property information, photos and due diligence documentation.Â
Brokers with Cushman & Wakefield, Voit Commercial Brokerage and Collins Commercial have recently selected AuctionPoint to create branded online auction sites for their select commercial properties in Southern California, the company adds.