NEWPORT BEACH, Calif.--(BUSINESS WIRE)--The LFC Group of Companies’ auction website Freedom Realty Exchange® (FRE.com) continues to lead the real estate auction industry with the international expansion of its sales operation. Since pioneering online real estate auctions more than nine years ago, the company has significantly increased its presence throughout Europe and the Middle East with two notable auctions: a large bank portfolio featuring more than 30 properties in Germany and Dubai’s first online auction of a corporate floor in the iconic Burj Khalifa – the world’s tallest building. The auction website has also expanded its languages to include German, Chinese, Spanish and Arabic.
“The inevitable need by overseas banks and developers for a convenient, secure, and efficient real estate disposition strategy is what makes FRE.com perfectly positioned for a new wave of growth,” said Shawn Miller, director of sales, LFC Group of Companies. “The shifting real estate market faced by property owners in Europe and other parts of the world led them to look for a marketing and sales solution like FRE.com that delivers an effective and comprehensive solution to sell their real estate inventory.”
The global appeal of FRE.com was clearly underscored during 2012 with an auction event that was conducted for a Chase Bank-anchored property in northeast Ohio. Bidding continued for five days led by two very competitive bidders, one from the Heping District of Tianjin, China, and the other from Ottawa, Canada. The Last Call® bid extension feature on the website ultimately drove the final price 56 percent above the original highest bid.
“FRE.com’s online auction process is very convenient and the best option for a foreign buyer,” said the winning bidder. “The closing process was very efficient. I would definitely buy property again using the site and would recommend it to others.”
For more than three decades, LFC has served hundreds of sellers and continues to form strategic alliances with large national brokerages and individual agents through its Never Lose a Listing® auction program. The broker-friendly marketing program enables real estate professionals to market and manage their own auction campaigns on FRE.com’s platform. The combination of proven specialized marketing techniques and the auction technology of FRE.com provides agents with an alternative and significantly more effective sales tool compared to conventional methods.
“The surge of international real estate auctions will definitely change not only the dynamics of our company, but also the landscape of the real estate auction industry,” said William Lange, chairman, LFC Group of Companies. “Our corporate philosophy is to never be complacent and to build upon the experiences and knowledge learned from the previous year. Our ability to be agile, innovative and responsive to the demands of the market, nationally and across the world, puts us in the right position for tremendous growth.”
The Freedom Realty Exchange
The Freedom Realty Exchange is owned and managed by LFC Internet Marketing, Inc., a member of the LFC Group of Companies. For more than 30 years, the LFC Group of Companies has successfully auction marketed thousands of properties ranging from commercial and industrial to land and residential, with total sales exceeding $5 billion. Over the last nine years, it has conducted real estate auctions exclusively online. It has also successfully served numerous Fortune 500 companies, real estate developers, investors, financial institutions, government agencies and real estate brokerages by providing a complete suite of real estate disposition strategies and auction marketing programs for commercial and residential property and mortgage notes.
Freedom Realty Exchange, FRE.com and Never Lose a Listing are registered trademarks.