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The Housing Industry: Then and Now

AAEAAQAAAAAAAAyRAAAAJGNiYzRiMjU2LTEzYWYtNDdkNi05ODUyLWQ1ZTI2NTQ1Y2U2YwPerhaps no other decade has impacted the housing industry as much as the last 10 years have, but successfully navigating that period has led to a sea of change in terms of innovation. Take a look at what Jason Allnutt, General Manager at Auction.com, had to say about the past and future of Auction.com and the industry as a whole.

 

DS News: Reflecting on the last decade, what changes have you witnessed in the industry?

Perhaps no other decade has impacted our industry as much as the last 10 years have, but successfully navigating that period has led to a sea of change in terms of innovation. Today, new technologies make it easier for investors to quickly ascertain what properties are actually worth; and what borrowers are able (or likely) to do to cure default. Although inventory amount has tapered from historically high levels, the industry continues to evolve, and we are finding that online marketplaces continue to gain share based on improved outcomes. This growth is a direct result of the out-of-the-box approach that we’ve witnessed from industry leaders with their implementation of new ways of thinking and innovative solutions to address the challenges presented to them. This new approach to the business, paired with the ability to provide a robust online platform has resulted in the vibrant, healthy marketplace that we see today.

DS News: I understand Auction.com is rebranding in conjunction with its 10th anniversary. Tell us about that.

Auction.com, as a brand, is celebrating its 10th anniversary. We evolved from Real Estate Disposition Company in 2007 after finding the value and efficiency of disposition in the digital environment. Timed to coincide with our anniversary, we have unveiled a new logo, tagline, and updated design aesthetic that reaffirms our commitment to providing buyers and sellers with optimal disposition strategies for faster executions. As we’ve grown from an online auction site to the only platform uniquely able and proven to successfully bring any and all assets to auction no matter the stage in the disposition lifecycle, we look forward to going “Beyond The Bid” in providing proven disposition solutions that better prepare buyers for success.

DS News: What have you learned over the course of the past decade that helps you continue to steer Auction.com forward?

I remind myself of the importance of being relentless in the pursuit of developing optimal solutions, innovative in developing clear strategy, and forward thinking in exploring new opportunities in the marketplace.

Each of these qualities validates the importance of having an experienced and committed team in place—one that keeps our buyers’ and sellers’ needs top-of-mind in effectively presenting the most optimal disposition strategies in the market. The creativity fostered by our team positions Auction.com to best serve our sellers through a faster, more cost-effective method of disposing of their assets, and our buyers by providing the level of education and supporting resources needed to empower them to bid in confidence.

DS News: What is next for the industry?

Our industry is moving at a rapid pace and frankly, for us, it’s hard not to be optimistic about the future. The economy continues to improve, consumer confidence remains high, and as the established market leader in distressed asset disposition, Auction.com is well capitalized with access to the strategic and financial resources we need to drive the continued innovation of our technology and future expansion of our global footprint.

About Author: Brianna Gilpin

Brianna Gilpin, Online Editor for MReport and DS News, is a graduate of Texas A&M University where she received her B.A. in Telecommunication Media Studies. Gilpin previously worked at Hearst Media, one of the nation's leading diversified media and information services companies. To contact Gilpin, email [email protected].
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