Freedom Realty Exchange Delivers an Innovative and Convenient Solution for Buyers and Sellers in the Current
Newport Beach, CA—With over thirty years of real estate auction experience, the LFC Group of Companies is strongly positioned to lead the way in the home auction industry.
“By the end of 2007, many builders, developers and land owners finally realized that the current housing slump is not just a hiccup but a serious road block,” states Bill Lange, president of LFC Group of Companies. “Now they are just looking for a way to move inventory fast.”
As one of the top real estate auction companies in the 80’s and 90’s, conducting notable “outcry” real estate auctions throughout the U.S. and internationally, LFC made a bold decision to embrace the Internet and move all of their auctions online. Combining proven and successful auction marketing strategies and in-depth knowledge of the housing market, LFC launched the Freedom Realty Exchange website (www.FRE.com) in 2005.
“Especially with the recent influx of real estate and auction websites, buyers are more comfortable with purchasing a home over the Internet today,” says Lange. “Homebuyers already do most of their research via the Internet; the Freedom Realty Exchange is just taking it to the next level. Buyers are thrilled with the convenience and transparency of our online auctions, and they feel empowered because they ultimately determine the value of the home,” adds Lange.
For each auction campaign, buyers are given approximately thirty to forty-five days to conduct their due diligence, by reviewing documents and disclosures on the website and visiting the homes in their own time. Rather than having to waste an entire day in a chaotic hotel ballroom or convention center, as with the many foreclosure auction “circuses” that have been driving in and out of towns across the U.S., bidders are able to place bids from the comfort and privacy of their own computer, anytime and from anywhere in the world. Best of all, LFC’s patent-pending feature “Last Call,” eliminates the pressure that comes with traditional “outcry” auctions by extending the bid deadline, allowing ample time for prospective buyers to consider their next bid.
For sellers, an online auction delivers global exposure to capture both a national and international buyer market. Over the past year, the LFC Group of Companies has successfully sold and closed properties around the country: from condos in Savannah, Georgia, to resort homes in Arizona, and even parking spaces in a Chicago high-rise condo project. Without the auctions’ online format, many of the buyers, particularly those abroad, would not have been able to participate.
The fact is that the housing market will take quite some time to recover, but there is a silver lining. Sellers, such as builders, developers and financial institutions, are motivated to sell and, let’s face it, buyers are looking for a deal. In today’s real estate climate, online auctions are the most effective way to bring real estate buyers and sellers together in a fair and transparent marketplace.
******************************************************FFreedom Realty Exchange – part of the LFC Group of Companies For more than 30 years, the LFC Group of Companies have served numerous Fortunate 500 companies, real estate developers, investors, financial institutions and government agencies by auction-marketing thousands of commercial, industrial, land and residential properties with an aggregate value well in excess of $5 billion. www.FRE.com
