Real Estate Auctions

A real estate advertisement service through a dedicated portal and support to remarket the property sale through a court auction

Real Estate Auction Service

The persistence of the economic crisis in Italy had tangible affects on the real estate sector. Specifically in the last three years there has been a noticeable increase in the number of legal auctions aimed at underlying credit collection.

Purchasing a property through a Judicial Auction would be a viable alternative to traditional methods, with conditions that are typically more advantageous than traditional channels, while still providing all the necessary legal protection. Unfortunately this sales channel has features that don’t facilitate visibility and adoption by the private investor.

The most critical aspects of the current process are represented by

  • Poor visibility for properties in auction in a sustained supply and low demand environment
  • Real Estate Agencies are currently not involved in the sale process through Judicial Auctions.
  • There is a strong trust of buyers when buying properties through an auction.
  • A lack of knowledge of the auction process by real estate agents throughout the country and potential buyers (not institutional).

Despite the increase in the amount of assets that are subjects of enforcement procedures, the process of credit collection through sales of property by real estate auction is ineffective.

Sistemia designed a solution aimed at providing an integrated and innovative service to maximise the sales of auctioned real estate and anticipate the value of the property over time.

This is to minimise the depreciation of the property itself which would penalize the collection of the credit claimed. The service uses the following levers to support the participation in the auctions and then the underlying credit collection.

  • Involvement of the sales network (real estate agencies) in the promotion of property in the auction. This is to extend the buyers’ list (the increase in the demand), for example with the publication of Sistemia Auctions on the web portal of Immobiliare.IT
  • Make the purchase through real estate auctions “trusted” for the buyer, offering completely free technical and legal advice to the buyer.
  • Creating an incentive model for local Real Estate Agencies to promote good sales.
  • Creating a Competence Center focused on administrative and legal consulting to overcome the knowledge gap of the auction process from local agents and potential buyers. The solution is a real estate advertisement service through a dedicated portal AsteRealEstate.IT and the support for remarketing the property sale through a court auction. The key components of the solution are as follows: Web site with collaborative capabilities that allows authenticated and differentiated access by all actors (Operators and Responsible Clients, Contractor Back-Office Operators, Legal and Administrative Specialists of the System Competence Center, local agents) participating in the real estate remarketing process.Local support for visiting the property on sale and participation in the auctions.
  • Consulting through a legal and administrative competence centers dedicated to improve the knowledge of the auction process for local agents and potential buyers.
  • The promotion and sale of property through innovative targeted marketing campaigns.
  • Distribution of the web portal to advertise properties distributed throughout the country that facilitate integration with buyer documentary systems.