On The Block

A cutting edge real estate brokerage specializing in online auctions designed to bring more transparency to the industry.

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[On The Block @getontheblock]

Listen to @NEWSTALK1010 from 3:00-4:00 today where @SteinfeldSays and @katiesteinfeld are the guests on ‘Ask The Expert’ and will talk all about auctions, real estate, and more! #realestate #openbidding #realestateauctions

[On The Block @getontheblock]

@CBCOntarioToday our company has been running transparent real estate auctions in Ontario for the last couple of years. This process benefits both buyers and sellers. #blindbidding

[On The Block @getontheblock]

@d_demelis @ScottTerrioHMA Happy to answer any questions about the process anytime.

[On The Block @getontheblock]

@mortgagejake @d_demelis @BenRabidoux @shaner416 We just did our 16th I believe.

[On The Block @getontheblock]

@mortgagejake @BenRabidoux @shaner416 @d_demelis The processes are separate and the auction house is providing a third party service to the brokerage. That is why the last auction we did was for a Remax agent in Kingston. It was a long road with ensuring everything g was fully above board and compliant before we launched

[On The Block @getontheblock]

@mortgagejake @BenRabidoux @shaner416 @d_demelis For us it’s only about 10% of our listings...we are very selective on the auctions we actually allow to happen (it’s not a gimmick)...and the answer is because we are a brokerage and we also have an auction house that is independent of the brokerage who run the auction.

[On The Block @getontheblock]

@BenRabidoux We’re doing it Ben. Have been as an option in our brokerage since wary 2018. It was a long road with regulators to get it where it is, but the system now works great and has been having success with frustrated buyers and sellers.

[On The Block @getontheblock]

@mortgagejake @BenRabidoux @shaner416 @d_demelis We just did another a few days ago, several in the last few weeks. You can see two of our most recent at https://t.co/dhh8FuRpCz (Kingston) and https://t.co/9DiElfAlop (Burlington)

[On The Block @getontheblock]

@shaner416 @BenRabidoux Hey all - open auctions are an option, and they do address the transparency issue quite head on. Affordability will not be an automatic byproduct of an open system because more people stick around and are more comfortable going to their max price.

[On The Block @getontheblock]

#auctionalert - stay tuned, we’ve got another transparent home auction coming to Bowmanville VERY SOON... it’s the latest in a run of ‘first ever’ auctions to hit the GTA. Get ready Bowmanville, time to know what a home costs when you still have a chance to buy it! #getontheblock

[On The Block @getontheblock]

@WTFoch @Houtan_Moravej @IGorbadei @TheReal_TRREB @TheHabistat Would be cool - but it is also real time updated on the auction site, which is public, so even though people wouldn’t see the real time price through TRREB or CREA (that’s just the opening bid), they can watch the auction and always know the high price whether or not they bid.

[On The Block @getontheblock]

@Houtan_Moravej @WTFoch For what it’s worth, we went through considerable work with RECO to ensure our platform was approved and abided by REBBA (and the upcoming TRESA).. lots of work to ensure the way we do it is fully compliant - but it was worth it :)

[On The Block @getontheblock]

@WTFoch @Houtan_Moravej @IGorbadei @TheReal_TRREB @TheHabistat Sellers can set a reserve price. That represents the minimum obligatory acceptance price. We will not run an auction with an unreasonable reserve price and historically our auctions have shown that once the reserve is met, the bidding heats up.

[On The Block @getontheblock]

@IGorbadei @WTFoch @Houtan_Moravej If anyone would like more information about our transparent bidding platform and how it works, reach out anytime. We also have a live demo that runs 24/7 at https://t.co/4NOYTnh7sP

[On The Block @getontheblock]

@rickydee82 @IGorbadei @WTFoch @d_demelis @sternadam @mortgagejake @SteveClarkPC @timhudak @TheReal_TRREB @OREAinfo @CREA_ACI Check out https://t.co/4NOYTmZwBh

[On The Block @getontheblock]

There’s another open auction coming to the GTA this Tuesday! Home buyers have been waiting for another transparent opportunity and Burlington has a great listing with no blind bidding. See the auction at https://t.co/9DiElfAlop @NEWSTALK1010 @blogTO @TorontoStar @dmcgovern @CP24

[On The Block @getontheblock]

@trebhome - was the first one to comment with the hashtag...seems like someone else won the ticket though...was that right?