Business At A Glance
Startup Costs: $10,000 – $50,000
Home Based: Can be operated from home.
Online Operation? Yes
Real estate auctions are becoming extremelypopular, as an auction is a very effective method to sell a propertyquickly and effortlessly. The main requirement for starting a realestate auction service is that you, a partner, or employee must be alicensed auctioneer. The business can focus on real estate in general,or be more specific and specialize in one particular type of realestate such as vacation properties or commercial buildings.
Thebusiness creates revenue by way of a commission percentage that isbased on the total selling price of the property be auctioned, and thecommission rate charged often varies between 3 and 10 percent. The keyobjective is obvious: sell the property for as much as possible, asthis will earn the business a higher commission fee. This will makeyour client very happy, which in turn helps to build a good reputationin the industry and guarantees future real estate auction clients.