In an auction, of course, the asset goes to the highest bidder and not necessarily the buyer who has the strongest relationship with the seller, as is often the case in the investment-sales industry, Maggiacomo points out. “So, for sellers, auction provides them with more certainty of execution over traditional sales methods. For buyers, they know that they are dealing with realistic and motivated sellers.”

Among the auction’s participants are AuctionPoint, First American Title, RW Kline Cos. and the Sperry Van Ness asset recovery team. Maggiacomo tells GlobeSt.com that AuctionPoint makes a good partner for the event because it “is not a brokerage, which is the case with other online auction companies in the industry. They are completely broker centric, empowering brokers to service their clients while keeping them involved every step of the way.”

Maggiacomo adds that the AuctionPoint executives are experienced CRE investors. “The AuctionPoint online auction platform brings technology to an industry that is rooted in traditional practices and introduces a leading-edge and current sales platform. Our SVN Q4 event will function much like other, efficient, non-CRE markets do—the NASDAQ, for example, nets together high-net-worth individuals with institutional buyers in an organized fashion in milliseconds every day, creating a true, efficient marketplace. This event isn’t the NASDAQ, but in the future, we see sellers demanding the kind of transparency and marketing that makes due diligence easier for all involved. Open, transparent bidding is what bidders want and deserve.”

Income-producing assets attract the most attention from bidders, and SVN’s event will offer non-distressed assets for sale ranging from $50,000 to more than $20 million. Triple-net, multifamily and industrial assets have attracted many bidders, and roughly 10% of the assets have received acceptable preemptive bids by buyers who want to buy the property before the bidding even begins, says Maggiacomo.

Buyers can click here for more information on bidding times, and sellers can contact [email protected] for upcoming event opportunities.

As GlobeSt.com previously reported exclusively, Miami-based Special Servicer LNR Partners recently sold two REO multifamily properties in Los Angeles County through the auction process at Auction.com. Amargosa Creek, a 216-unit property at 43332 Gadsden Ave. in Lancaster sold for $14,385,000, and Yukon Apartments, a 58-unit property at 13519 Yukon Ave. in Hawthorne, sold for $5,860,000 plus a buyer’s premium of $293,100.