“If you are not a savvy investor and accustomed to going to auctions,” she says, “an online auction that features anonymous bidding” will provide a certain comfort level. “I wouldn't be surprised if over time most auctions were conducted online.”

“In a twist of irony, however, we likely will see a reduction or consolidation in the number of firms devoted exclusively to auctions,” Gill adds. “We saw a tremendous influx of more opportunistic auction firms several years ago as the potential pool of properties to sell at auction had increased due to economic conditions.”

Sellers have also started to see advantages to the use of auctions for a wide range of real estate. “An auction can draw attention and get a larger marketing base,” Gill says, important factors when it comes to offerings that are somewhat unique. The firm has made selling off golf courses a specialty, for example, partly because so many people find it difficult to place values on these properties. “But in an auction, you can let the market speak.”

The company will hold its next auction on February 13, followed by another on February 26. It will auction off a collection of stable commercial properties and homes in South Bend, IN, and in Illinois towns such as Harvard and Savanna. In addition, it will also sell the Chestnut Hills Golf Course in Arcadia, MI, and the Oak Club of Genoa in Genoa, IL.

“It's still pretty common for someone to call us about a property and say, 'what's wrong with it?'” she says. “But I think people are coming around to the fact that an auction is just another tool to sell real estate.”