By Margaret Jackson
Rising interest rates are making it harder to buy real estate, but two companies — GovDeals and Bid4Assets — give investors a way to get around it through their online real estate auctions.
GovDeals and Bid4Assets are owned by Liquidity Services Inc. (NASDAQ: LQDT), a 20-year-old e-commerce marketplace.
GovDeals has completed more than $2.6 billion in sales to 1 million registered buyers through its online auction platform. Transportation-related items had dominated the platform, but the company started prioritizing real estate in 2000, said Angela Jones, GovDeals’ senior manager of digital marketing.
“We’ve seen the growth of real estate and what online auctions can do,” Jones said. “We saw that we can provide buyers more options for their purchases. That’s when we started getting more real estate on the site.”