Auction.com has rolled out a new iPad app which enables buyers to locate and bid on both commercial and residential real estate from virtually anywhere.
The app fully integrates Auction.com's platform and iPad's technical infrastructure to produce an entirely new user experience.
"Auction.com's mission is to fundamentally change the way real estate is bought and sold," said Jeff Frieden, Auction.com co-founder and chief executive officer. "Real estate consumers are increasingly using mobile devices to search for properties to buy, and our new iPad app now lets them buy properties from across the country anywhere they happen to be."
According to a March 2014 report from the National Association of Realtors® -- titled Home Buyer and Seller Generational Trends -- more than half of Gen Y and Gen X buyers used a mobile device during their home search. Among those, 26 percent of Gen Y and 22 percent of Gen X purchased a home they found on a mobile device.
Last year alone, Auction.com's online marketplace was the setting for more than $7 billion in commercial and residential sales. The new iPad app provides expanded tools, and the freedom of one-touch, mobile accessibility. With a single tap, users gain immediate access to an interactive map of North America that can be refined by location, property type, opening bid, size, age, and financing options. Properties and search criteria can be added to a personal dashboard that delivers real-time auction updates, reminders and full bidding capabilities.
"There is nothing like this in our industry," said Auction.com chief marketing officer David Thompson. "The most popular real estate websites are seeing huge increases in mobile traffic, but their applications only help buyers locate and compare properties. This is the next step in the evolution of real estate: enabling buyers to find and securely bid on properties from virtually anywhere with confidence."
The application, which can be downloaded for free from Apple's App Store, or at www.auction.com/ipad, is the latest in a series of 2014 technology milestones for Auction.com. In March, the company announced a $50 million investment from Google Capital, part of a strategic partnership that is focused on expanding Auction.com's share of the global real estate marketplace. Last month, former Yahoo! Inc. chief financial officer and interim chief executive officer Tim Morse became the latest high-profile technology executive to join Auction.com when he was named CFO.