Is this the future of real estate?

Two brand new luxury homes are being sold by auction in Priddis, Alberta this month and the developer says this is the future of real estate.

The homes, one priced at $3.988 million and the other at $2.898 million, are being sold by Calgary developer Homes by Bellia.

Paul Bellisimo from the firm told the Calgary Herald that the use of auctions is going to increase.

Listings agent Mark Evernden of Engel & Volkers added that these are the types of property that would take a lot of time and money to sell with the regular real estate process.

Using Concierge Auctions, the firm is able to tap into its 200,000-strong database which has spurred a lot of interest; “3,000 emails a day” says Evernden.

In many of the largest metros in Australia auctions are the main route for all residential sales. 

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