CHICAGO, Jan. 8 /PRNewswire/ -- Capitalizing on the growing popularity of auctions as a preferred method of real estate sales, OwnACondo.com has purchased the domain RealEstateAuctions.com.
The purchase was made Jan. 6, 2010 and will enable OwnACondo.com to immeasurably expand the real estate auction services that it offers as part of its newly established Auction Division, according to Brian Kuzdas, the company founder and owner.
"There is simply not a better name to have for real estate auctions," Mr. Kuzdas explains. "I equate it with having Doctors.com or Lawyers.com if you're in that field. It's absolutely huge for us and for our customers--locally, regionally and soon nationally."
The domain name of RealEstateAuctions.com is currently "parked" with no content, a situation that will quickly change, says Mr. Kuzdas.
"We expect to have an entire, full-service website in place within the next 60 days, with plans to conduct our first real estate auction under this new name in late March or early April, 2010," he says. "RealEstateAuctions.com will be a subsidiary of OwnACondo.com and will auction all types of real estate, except condominiums."
Real estate auctions are growing in popularity as buyers and sellers alike seek an accelerated way to conduct business.
Almost $60 billion in real estate sold nationally in 2008, with an even greater amount expected for 2009 once year-end totals are in. Auctions are expected to account for 30-35 percent of all real estate sales in coming years, according to statistics from the National Auctioneers Association.
"Buyers love auctions because of the potential for great deals, and sellers love auctions because it's a fast way to sell their property quickly to qualified buyers. By no means are auctions just for distressed real estate anymore," explains Mr. Kuzdas.
RealEstateAuctions.com was purchased after six weeks of negotiations, with the aid of a broker who helped locate the owner of the domain.
"The name had been parked and unused for more than 15 years," Mr. Kuzdas says, "and now we're the proud owners of the best domain in the industry!"
RealEstateAuctions.com will house its offices side by side with OwnACondo.com as both entities expand nationally.