Shanahan: As we examined our auction platform and its position in the marketplace, we recognized that sellers are looking for greater flexibility in pricing—the fees they'll have to pay. At the same time, they're insistent on having access to state-of-the-art tools that make the selling process as comprehensive and efficient as possible.

Remember, RCM is not a broker but a SaaS (software as a service) company powering the online marketing of more than 50% of all US transactions. Online auctions have slowed dramatically with the robust recovery we are having. With that backdrop, its easy to understand why auctions are currently a minor but meaningful part of our business.

Under the updated RCM accelerated auction platform, we've repriced the service to allow our clients to execute their transactions consistent with a SaaS model. Sellers now can choose a flat fee or a success fee—a percentage of the sale price. Each option is highly competitive and substantially reduces their selling costs.

Sellers in either fee structure will have the ability to use the extensive marketing and technology program benefits offered by RCM—tools and programs that are nearly 20 years in the making. That would include our database of 55,000 qualified buyers who are actively engaged in regularly updating their investment criteria to ensure they are seeing all acquisition opportunities.

GlobeSt.com: What are the advantages of each type of fee structure? Why would clients choose one over the other?

Shanahan: Our versatile fee structure allows our clients to price their risk accordingly and set the strategy for each listing. The reasons for selecting one over the over could vary, but generally will be closely linked to the marketability and perceived interest likely to be secured for each property. For example, a seller who believes his or her property may attract multiple parties that could create a bidding war would likely select the flat fee. If the property being sold may be more challenged to sell, the success fee may be more cost effective.

GlobeSt.com: What trends are you noticing in the online-auction realm?

Shanahan: The evolution of online auctions has paralleled the evolution of traditional online disposition methods that seek to leverage advancements in technology to market offerings as broadly as possible.

We live in a fast-paced environment where speed to market is not only essential, it's expected. Generally, when sellers look to dispose of as asset, their goal is to complete that transaction as quickly as possible. Combining the effectiveness of online platforms with the date-certain nature of real estate auctions really speaks to the needs of the sellers.

GlobeSt.com: What else should our readers know about online real estate auctions?

Shanahan: One of the common misconceptions in the industry is that if a property is marketed for auction, there is something negative about it; it's a troubled or somehow distressed real estate asset. This is not necessarily the case. Auctions now encompass a wide range of property types and situations.

Over time, there has been a significant level of unique assets marketed for auction—especially during times of great distress in the industry. Using auctions as a vehicle for marketing and selling these properties has been and remains largely about speed to market and a date-certain disposition.

Bringing innovation to the online-auction sales process is important to make this marketing option a viable alternative for sellers. Establishing a flexible fee structure demonstrates that we are working with sellers to produce results at reduced property-marketing and selling costs. No seller will be disappointed with that.