Most Auctions Happen Online Now

When people hear the word auction, a lot of them still picture a crowd standing in a field while someone talks fast. That image is real, and it still happens. But it's not how most auctions run anymore.

Today most of our sales are online. Bidders register ahead of time and place their bids from a phone or computer, wherever they happen to be. Someone two states away can bid on a property here in Middle Tennessee without leaving their kitchen table.

That matters for sellers. An in-person sale is limited to whoever can show up that day. An online auction is open to anyone who finds the listing, which means more people competing for the same property. More bidders usually means a better price.

The work behind the sale hasn't changed. We still set a fair value, market the property, and run the bidding so it's clear and fair to everyone involved. The auctioneer's job is the same as it's always been. What's different is the size of the room.

If you've got a question about how auctions work, leave it in the comments on the video. I'm answering them through this series, one at a time.