SUBMIT A COMPLAINT

Auction.com / Doomed for failure

613 4th St Suite 207, Santa Rosa, CA, United States Review updated:
Contact information:
Phone: 7073277770

auction.com is a concept that is destined for failure. Misleading biding. Intimidating and illusive environment. There are just too many moving parts. Soon enough lawsuits will start rolling in and will ultimately cause it to shut down. In my opinion.

Ra
Mar 27, 2013
Sort by: UpDate | Rating

Comments

  •   Mar 28, 2013

    Dear Ramib,

    I appreciate you voicing your concerns and I’m sorry to hear your perceptions of Auction.com are not positive. At Auction.com, we pride ourselves on delivering a positive experience in helping our customers buy and sell real estate at true market value and excellent customer service. Our online marketplace provides a transparent view into the bidding activity on each property. I would be happy to set up a call to further explain our process and policies, and discuss how we can improve our platform. Please contact me or my Customer Service Managers Yamir Gonzalez or Vicky Hernandez at 800-793-6107.

    Sincerely,
    Peter Chevalier, Director of Customer Service
    "Read Auction.com Reviews here"

    -1 Votes
  • Ra
      Mar 29, 2013

    Peter,
    I appreciate your reply. Here’s why I think your concept will ultimately fail:

    1. You refuted the definition of “auction” if the “highest bidder” does not necessary win.
    2. What transparency if the seller (owner of the auctioned property) gets to participate in its own auction and bid the price up.
    3. Buyers waste weeks or months conducting due diligence on a property to find out seller opted not to accept their winning bid. Quite frustrating. Forget about repeat clients.
    4. Buyers soon will opt to bid first and then conduct the due diligence, which will create a lot of mess considering your contracts.
    5. By the time a buyer completes a purchase using your services, he/she would have paid 11% in commission- 5% to auction.com and 6% to listing agent. Buyers and sellers will ultimately find ways to make these deals and cut you off.
    6. Real estate market is heating up, there is no need for auctions anymore, sellers can simply erect a For Sale sign in their yards and the offers will start pouring in.
    7. You and your team at the customer service department, albeit doing a great job, will be bombarded with complaints and angry customers that will ultimately drain you and make you quit.

    0 Votes
  •   Apr 01, 2013

    Dear Ramib,
    I understand your position and want to thank you for outlining your concerns. However, we firmly believe in our platform’s ability to help real estate buyers and sellers get true market value for their assets in a way that is easier and faster than traditional methods. See below for numbered answers to your specific questions.

    1. All assets have an unpublished reserve price that is set by the seller. If the reserve is not met, the highest bidder is informed he or she has won the auction “subject to seller confirmation”. The winning bid is presented to the seller once the contracts are signed and the earnest money deposit is submitted. The seller has up to 15 business days to accept or reject the offer. If they do not accept the offer, the entire earnest money deposit is refunded to the bidder by the closing company.
    2. As explained in our terms and conditions, except where prohibited by law, during a live bidding event (online or otherwise) the auctioneer may open bidding on any property by placing a bid on behalf of the seller and may further bid on behalf of the seller up to the amount of the reserve price by placing successive or consecutive bids for a property, or by placing bids in response to other bidders.
    5. The listing agent commission and the 1% buyer’s agent commission are paid by the seller and not the winning bidder. The winning bidder pays a 5% buyer’s premium and closing costs. While the asset is in the auction, the seller will not entertain outside offers.

    I’d like the opportunity to discuss your concerns more thoroughly over a call. Please contact me or my Customer Service Managers Yamir Gonzalez or Vicky Hernandez at 800-793-6107.

    Sincerely,
    Peter Chevalier
    Director of Customer Service

    -1 Votes
  • No
      May 10, 2013

    They will fail!!
    Don't call this "peter", they want the discussion be be in the dark so that people don't know what is going on...
    Keep it all in the open so all can see how dirty they are!

    +2 Votes
  • Jo
      May 10, 2013

    I hope someone soon sues the [censored] out of this company!!
    they are definitely not abiding by the law!

    0 Votes
  •   May 10, 2013

    Dear noHome,
    Thank you for reaching out and expressing your concerns. I’d like to be able to set up a call with you to better understand your experience using our platform. I’m going to reach out to you directly through your ComplaintsBoard profile to see what I can do to help come to a resolution.
    Sincerely,
    Peter Chevalier
    Director of Customer Service

    0 Votes
  •   May 13, 2013

    Dear JoBow,
    I appreciate you reaching out with your concern and am sorry to hear about your experience. At Auction.com, we pride ourselves on delivering nothing less than a positive experience for our users. Please contact me or my Customer Service Supervisors Vicky Hernandez or Yamir Gonazles at 800-793-6107 so we answer any questions you may have regarding our process and policies.

    Sincerely,
    Peter Chevalier
    Director of Customer Service

    0 Votes

Post your comment