Infra Talk: eAuctions, the next level of property marketing – Part II

For the buyers since the auction is held online,  they can participate from all around the country. Here the developers, government institutions and banks provide detailed information, which helps one to buy undisputed property. Participating developers can expand their reach without investing in physical infrastructure, manpower or other additional costs of selling their projects, A spirited bidding process can earn them handsome returns, as there is no upper limit fixed to the final price of the property. As  long as the basics of the process are adhered to and all rules are followed, eAuctions are the quickest way to conduct business. 

So far, nothing could replace physical inspection of a property - not least of all because there are sizeable sums of money involved. Going forward, technological advancements will ensure that eAuctions deliver enormous benefits to both buyers and developers. Buyers have access to the best properties on  their cell phones. Simultaneously, developers have access to buyers from across the country at a fraction of a cost that they usually incur for marketing their projects.

eAuctions certainly faced initial teething problems, but technology has ironed out most wrinkles. Developers have realised the potential of taking the eAuction route and are investing in the process by meeting buyers› requirements of paperwork, ease, transparency to earn credibility in this cutting-edge property marketing domain. 

With growth and advancement in technology, the Internet is the future of business - and the real estate industry is falling in line to reap its multiple benefits. With 402 million active Internet users in India by end of 2015, the growth of ecommerce and adequate infrastructure and system controls now available, the real estate industry has become a veritable goldmine once again. 

eAuctions have a tremendous future considering the benefits, ease and efficiency they bring to the process of buying and selling properties. eAuctions are all set to become the new standard in real estate marketing.