It’s hard to run a business out of your home, but it’s even harder when you’re not using the right tools. Home based businesses need to use technology as an equalizer. Most home based businesses usually have between one and three employees, along with smaller budgets. They often have to compete in markets with large corporations that have hundreds of employees and huge budgets. Luckily, the 21st century has provided a lot of great technological tools to deal with the challenges that home based businesses face.One such service is Internet fax, which has quickly gained immense popularity among businesses of all sizes – especially in home based businesses. Internet fax works through a user’s existing Internet service, and, as its name implies, allows all the functionality of a fax machine from the user’s computer. Faxes can be received, sent, archived and printed with ease, allowing for a high level of organization and functionality without a huge investment.There are many reasons that the Internet fax is such an appealing technology. For home based businesses, a well-implemented Internet fax system can give the impression of a very large company. Multiple fax numbers can easily be set up for a home company’s various “departments.” Additionally, since faxes are received electronically through broadband connections rather than through a dial-up modem, there’s no possibility of a missed or returned fax. Hundreds of pages can be easily and instantly sent to potential clients, less expensively than through a traditional fax machine. This is because no paper or ink is ever used when faxing over the Internet, unless a business owner should decide to print out a few pages to have a paper copy of an important document.Internet fax services also allow home based businesses to greatly improve their output and increase sales from the day they’re installed. Since Internet fax services can handle multiple faxes simultaneously and operate through normal email systems, any orders for products or services received via fax can be easily corralled into a home business’s normal workflow. This can greatly improve a home business’s revenue, especially when orders are received en masse due to advertising, promotions and other marketing efforts. For home based businesses that market through fax, an Internet fax service also provides a cheap, simple and highly efficient way to contact large amounts of potential clients. They enable creative ad campaigns, and a simple way to stay in touch with repeat customers and partners.Of course, a good organization system is a very important element in running a home based business. Internet fax services are a great aid in this area, as well. Faxes received through the systems are infinitely more search-able than their paper counterparts, as text can be easily scanned for keywords using typical word processing software. Received faxes from an Internet fax service can be easily and cheaply stored on a user’s computer, making large, unwieldy filing cabinets completely unnecessary. This also provides a form of insurance in case of fire or other natural disaster – a home based business owner can easily back up the faxes to an external hard drive, jump drive or through an Internet back up service, so that even major damage to his/her home and business won’t result in lost orders or records.As with any new technology, there are costs associated with the installation of an Internet fax system. These costs are low by most standards, and are paid back through lower faxing costs. Many business owners find the systems far less expensive than owning and maintaining a fax machine, simply due to paper and toner costs. In addition to cost, there’s also a very small learning curve when adapting to the new technology. This is because received faxes are opened in the same manner as email attachments and outgoing faxes are sent through an easy-to-understand computer dialog.Regardless of a home based business’ field, faxing over the Internet provides an inexpensive and flexible way to compete with larger companies on a professional level. The possibilities are only limited by the creativity of the systems’ controller. As all home business owners know, staying up to date on the technology front is an important part of staying in business. With that in mind, it’s difficult to recommend traditional fax machines while Internet fax services are available.
Real Estate Auctions – The New Land Rush
On a sunny afternoon in Florida, an energetic crowd gathers on the lawn of a high end luxury estate. A loud and eager banter between an auctioneer, a group of bidders and bidder assistants fills the air. For several minutes the auctioneer asks for the next highest bid and the bidders respond. Suddenly the bidders grow silent. The high bidder holds his breath in anticipation of winning the auction. The auctioneer calls for one more bid. In a loud clear voice which rolls over the audience he says, “Fair warning, last chance” the auctioneer pauses, “SOLD!” And in less than 10 minutes another multimillion dollar estate has changed owners.
Successful real estate auctions like the one above are happening all over North America and the Caribbean. Recently real estate auctions have been on the rise, the increase in popularity is partly driven by growing inventories and fading buyer confidence. Properties that were selling in weeks using traditional methods are now languishing on the market unable to attract buyers even as seller’s lower prices. Many say the real estate boom is over but savvy buyers and sellers are profiting from real estate auctions.
Real Estate Auctions Work in Up or Down Markets.
Regardless of trends or market cycles, real estate auctions provide an open and transparent process for buyers and sellers. Properly conducted real estate auctions attract ready and willing buyers and motivate them to act now.
The auction method removes the “wait and see” attitude which serves to further depress real estate values. Buyers are always concerned about overpaying. Buyers gain confidence with their purchases at real estate auctions because they can see what others are willing to pay.
When market demand is high and inventories low, real estate auctions can deliver selling prices well above what a willing seller would have accepted in a negotiated private treaty sale. In good selling climates many property owners using traditional real estate methods; negotiating with one buyer at a time, leave thousands of dollars of equity on the table. During up markets real estate auctions are the best way to establish top market price.
Evaluating Your Real Estate for Auction
Not every property or seller for that matter makes a good candidate for auction. First of all sellers must be ready to sell now and for the current market value. Also a real estate auction will not fix problems caused by a downturn in market value of your property, if you owe more than a willing buyer will pay, be prepared to come to closing with your check book.
Properties that do well in real estate auctions have a high uniqueness factor. Ask your self, “What makes my property different from most others?” Maybe you own a resort property or high end luxury home, commercial properties and land do very well at auction. Real estate auctions thrive on uniqueness. If your property is like everyone else’s, the best thing you can do is offer the most competitive price.
Most importantly sellers must be reasonable about setting a minimum bid. A seller must look at the lowest, most current comps and price below that to generate the interest and urgency necessary for a successful real estate auction. Once the auction begins and qualified bidders start competing against one another you can watch the selling price increase.
Locate a Qualified Real Estate Auctioneer
Start by checking with the National Auctioneers Association, the best real estate auctioneers belong to this organization. These real estate auctioneers are well trained and adhere to a standard of practice and a code of ethics. Many attend the annual International Auctioneers Conference where the latest techniques and innovations in the real estate auction industry are presented.
Find out if the company you are interviewing is a full time real estate auction firm. Many real estate agents are getting auction licenses yet have no experience with the auction method of marketing. Conducting a successful real estate auction is nothing like (private treaty) traditional real estate sales. Go with a real estate auction pro.
You’re probably better of with an auction house that specializes in real estate auctions. There are many qualified auctioneers who have generations of experience selling personal property; furniture, dishes, lawn equipment and the occasional rare painting. Selling real estate at auction is a complex matter that should only be attempted by full time experienced real estate auction professionals.
Commissions and fees may vary, sellers must pay all marketing expenses up front and buyers typically pay 10% of the sales price to the auctioneer of which a share goes to participating real estate agents.
Types of Real Estate Auctions
Auctions are effective because they create a seller’s market. Professionally conducted real estate auctions create urgency, a reason to buy today and competition for the property. Terms and conditions of sale are established ahead of the auction. Real estate auctions will follow one of these three approaches:
Absolute Auction
The property is sold to the highest bidder regardless of price- using this process often returns the highest sale price.
Minimum Bid Auction
Seller agrees to sell at or above a published minimum bid price – this method is useful for internet auctions.
Seller Confirmation or Reserve Auction
With a reserve auction, the seller “reserves” the right to accept or decline any bids usually within 48 hours of the auction. Reserve auctions are used when there is a lien on the property from a lender or a court ordered sale with a minimum selling price.
Differences in the Types of Auctions That Take Place Around the World
Auctions are those events where properties or goods are sold to the highest bidder. Auctions are mostly public events, where bidders make a series of bids and purchase a particular item for a high price. During auctions, bidders decide the price of an item rather than the seller. It depends on bidders to decide the amount they would want to pay for a specific item. During an auction, a bid is a proof of a legal binding. Bidders agree to pay the amount that they have bid. In a high profile auction, bidders may have to pay a deposit in escrow accounts or give a proof that they can pay for those items.
Types of Auctions:
Different types of auctions take place around the world. Below mentioned are some types of auctions:
1. English auction:
This is a basic type of auction. In this type, people can see the item and then start bidding. Bidders slowly raise the value of their bid until everyone gives up. The highest bidder is the winner. An auctioneer manages an auction, keeps records of the on going bid and decides the winner. Sometimes, the seller will quote a minimum amount for an item to the auctioneer, below which the auctioneer cannot sell that item.
2. Dutch auction:
In this type, the auctioneer sets a particular price and then gradually lowers the price. People in public will start bidding and later decide which prices are suitable for the item. A seller may use this type of auction to sell large quantities of same products to the public. For instance, a seller may want to sell a large amount of hay and will thus, decide to sell this hay to people for the same amount, once a reasonable price is decided.
3. Silent auction:
In this type, the bidders in public will present their bids in a sealed format. These sealed bids open at the same time and bidder with the highest bid wins. There could be a modification in this type of auction. The bidders are allotted a specific period to bid. They can roam in a room displaying the items, and write their bids on an associated sheet of paper. The bidders are allowed to see bids of other bidders and can choose a higher price for an item. At the end of the allotted time, bidder with the highest bid is the winner.
Examples of Auctions:
Auctions can be of two types either public or private. Sellers may trade any kind of items in both types of auctions. Some areas where auctions take place are:
1. Antique auction: An antique auction consists of a trade opportunity as well as provides entertainment.
2. Collectable auction: In a collectable auction, the seller may put up collectables like coins, vintage cars, luxury, stamps, real estate, and luxury for sale.
3. Wine auction: In wine auction, bidders can bid for rare wine, which may not be available in retail wine shops.
4. Horse auction: Bidders can bid for young horses of the best breed.
5. Livestock auction: In livestock auction, bidders can buy pigs, sheep, cattle, and other livestock.
The other examples of auctions may not be public. These auctions are for bidders from corporate levels. Some examples of private auctions are:
1. Timber auction
2. Spectrum auction
3. Electricity auction
4. Debit auction
5. Environmental auction
6. Auto auction
7. Electronic market auction
8. Sales of business auction
Bidders in an auction need to examine the items displayed and decide an appropriate price for an item. Thus, auctions help buyers in getting the best deals and in gaining better profits for sellers.