At LotNetwork.com we know that selling properties at an Auction involves unique needs and requirements when compared to non-auction sales. So we have included some useful tools on LotNetwork.com that are designed to meet your Auction-specific needs and help you maximize the effectiveness of your Auction marketing efforts.
Choosing Your Auction Listing Type
Featured Listings are the most popular choice for auction listings on LotNetwork.com. By definition, auction sales are time-limited, so you should try to get the highest exposure possible in that limited amount of time. Featured Listings provide the highest exposure for a listing on LotNetwork.com and are seen at the top of search results, displayed in special Featured Listing module ads on key pages on LotNetwork.com (including the Home page) and are given additional marketing benefits -- all of which is ideal for attracting buyers/bidders to an auction. Learn more about Featured Listings on this page, and follow this link to compare or sign up for a listing plan.
However, if you have a multi-property auction with a number of individual property listings that you would like to add on LotNetwork.com, then you may wish to consider an Unlimited Premium Listings plan too. This listing plan allows you to list as many Premium Listings as you wish, and works well when paired with a Featured Listing for one of the properties to boost the exposure you'll receive while promoting the entire auction event. Learn more about Premium Listings on this page, and follow this link to compare or sign up for a listing plan.
Be sure to have the right type of listing plan(s) in your account and available for use, because this makes it easier to post your new listing right away. And if you already have been working on a listing -- and even if it already has been made Active -- remember that you always can change between Featured and Premium Listings with the proper listing plans in your account.
Auction Advertising Program & Banner Ads
We work with many of the top Auction firms in the nation, and our Auction customers typically run banner advertisements on LotNetwork.com to market their auction events because of the benefits of the increased exposure provided by the ads. With the limited-time nature of an auction it's wise for sellers to do more to make sure their properties are found before the auction deadline. Our banner advertisements are a very effective way for you to make sure an auction is seen and that it attracts the maximum number of bidders/buyers to the event. In addition, under our Auction Advertising Program LotNetwork.com is offering at no charge one Featured Listing plan or one Unlimited Premium Listings plan for the auction when qualifying banner advertisement campaigns are running (an up to $49.95/month value). Having these free listings, in addition to the banner ads, helps your auction be found in geographic property searches too.
Your auction banner ad can link directly to a landing page on your own website, or we can link it to your LotNetwork.com listing if you prefer. Learn more about LotNetwork.com's advertising options here, or email us at firstname.lastname@example.org.
Auction Pricing Features
At LotNetwork.com we provide several alternatives for sellers when it comes to specifying Auction pricing, which can help Auction Sellers attract as many relevant bidders/buyers as possible (and helps Auction Buyers find the broadest range of properties that fit their criteria).
When creating a new listing on LotNetwork.com, a seller is asked to include the listing's sales price near the top of the listing form on Page 1 of Step 1 (Property Information). For most non-auction sales a user simply enters their price in this section, but for an auction you will likely want to check the box to indicate that this is a "Price Unspecified (Auction)" property, expanding the price criteria for this auction property so that it is returned in all relevant searches.
If you check "Price Unspecified" you can choose two pricing options for your auction:
- Price Unspecified -- To literally not specify a price, simply leave the price input box empty (or $0). This option causes the property listing to be flagged as an auction property and will show the word "Auction" in the pricing area on the listing page, in search results and in Featured Listing advertisement modules seen throughout the web site. The checkbox must be checked for this to work because the system typically would not post a listing with a price of $0. Note that the price will not be displayed as "$0". Sellers frequently use this option for auctions where a price does not need to be stated, including absolute auctions and even reserve auctions where a seller does not wish to publish its price requirements or range. Under the Price Unspecified option ($0) a listing will be displayed in all relevant search results no matter what "Price" search criteria were used by the searcher.
- Minimum Bid -- If you wish to specify a minimum price for bidders, then check the Price Unspecified box and include a specific price that will be your minimum required bid. This option causes the property listing to show your specified price and clarify that the price is a minimum bid price. Depending on the size of the display area and where the price is being displayed on the web site, the price will be shown as something like $200,000 Min, $200,000 Min Bid or $200,000 Minimum Bid. Under this Minimum Bid option a listing will be displayed in all relevant search results unless the searcher used a price criteria filter that excludes properties that are priced higher than the Minimum Bid price.
Note that if you are selling at an auction with a "Reserve" then simply choose which of the pricing options you'd like to use above to fit your needs for your "Sales Price" display (Minimum Bid or Price Unspecified). You should include any reserve-related wording that you need in your listing's details.
Special Sale Type for Auctions
When adding your auction listing, be sure to indicate in the "Special Sale Type" section near the top of Page 1 of Step 1 that your listing is an Auction.
This selection will help your listing be identified as an auction property with a visible "Auction" notice that is shown when the property is displayed in Search Results and on the Listing Page.
Be Descriptive About Your Auction
While these built-in Auction features on LotNetwork.com are great solutions for helping you market your auction property, you also should use the right type of descriptive wording and text when creating your new Auction listing. For example, include the word "Auction" and the date of the auction at the beginning of your listing's "Title" (this is the first item at the top of Page 1 of Step 1 when creating a new listing). Your listing already may be designated as an "Auction" using our other tools, but descriptive wording like this in the "Title" helps potential buyers/bidders easily see that your property listing is for an auction sale and the auction date before they even view the full listing.
Managing Your Auction Listings
Because of the time-limited nature of auction sales, be sure to manage your auction listings in your LotNetwork.com account accordingly. If your auction date has passed, then go back to your My Listings area for your account (under the My LotNetwork drop down menu) and make that listing Inactive or Sold. If inactivating your listing affects your listing plan needs, then you also should go into the My Account area and adjust your listing plans accordingly -- making a listing Inactive or Sold does NOT cancel your listing plan.
Contact us at email@example.com if you need any help adding listings for Auctions.
Real estate pros, be sure to see our Real Estate Agent and Broker Resources to see how LotNetwork.com can help you buy and sell lot and land properties. And homebuilding and development pros can go to the Homebuilder and Developer Resources Page to find out about our features and powerful online tools that were created to meet your needs, and will help you buy and sell lots and land so you can sell new homes.