My experience with auction companies is that they do have their own way of doing things, and if you are expecting â€œRealtorâ€ type ethics you will be disappointed. However, I think you are a bit overstated in your â€œhistory of Real Estate Salesâ€ statement.
If you take the time to read the fine print you'll discover that they have covered all their bases. It is a site that works as I've closed transactions through it. If you are having trouble find an agent to help you navigate the murky waters--you can still be represented when using this site.
NO. you get a better chance getting a deal thru Auction.com than sending an offer to a REO real estate agent were they are over well with work, your offer 50% of the times don't get submit it, to the seller, you just have to educated your clients and give them heads up to what they expect when they submit an offer in this site.
It is not necessarily shady, you have to read all the fine print BEFORE looking at those starting prices. It should be in big print THAT EACH AUCTION IS SUBJECT TO A RESERVE and that the seller has the right to approve or decline EVERY winning bid. Most homes are assigned to an agent, but they are usually occupied or over priced, the banks would be better off to lower the prices to where they should be instead of wasting a month or 2 with this auction.