EBay Real Estate grew from a nearly empty ebay.com category in the summer of 2000 to a fully functional one today, with over 1500 listings and operational on several eBay domains (eBay.com, eBay.co.uk, eBay.be, eBay.nl . . .). Read about some pioneers who sold as firsts their home on eBay and without an agent. And about the full potential of real estate buying & selling on eBay today.
Ebay was started in 1995 by Pierre Omidyar as “Echo Bay Technology”. It was about not much more than some auctions hold in his garage at home. The domain for his new business became eBay.com as echobay.com was already taken. The co-founder was Jeff Skoll. In 1998 Meg Whitman, Haward Business school graduate joined them. They worked hard to make the site a community with selling and buying centrally placed. In 1999, the company purchased auction house Butterfield and Butterfield for $ 260.000.000. Meanwhile, it had already 400 employees. The half.com website was bought in 2000. Here items could be bought and sold at lower rates than on eBay and it also lacked the auctions feature. In 2002 eBay acquired Paypal inc for $ 1.500.000. Paypal is a social online payment method for which no credit cards are needed. You can also send and receive money by e-mail address. Money can easily flow to and fro bank accounts. EBay had a bright future. In 2004, it had earned 3.3 billion dollars in revenue and was used by 135 million people worldwide. [Source]
Five years old, in 2000 eBay moved into high price markets as cars, electronics, sports equipment and . . . real estate. Except for the real estate business, this gave an immediate positive effect on the increase. The real estate business got slowly into gear. About 50 properties showed up on eBay’s first real estate page, that had started in partnership with real estate brokerage zipRealty.com. The fee to auction on eBay was $ 50. But it was less an auction than an online advertising tool. Listings were non-binding and generally lead to the agency taking care of the sale. [Source]
In 2007 Elisabeth Shaw and Jim & Sue Gayes cut out the agent to save money and sold their house online. They also used the youtube site for social networking.
Elisabeth Shaw got 750 hits on the site in 5 days and 10 set up an alert that would inform them about bidding on the house. She paid £ 37 for the home’s display with photos and description on eBay. There was a 10-days period during which candidate buyers could contact the seller by pm or e-mail for more info or to arrange a visit before placing a bid. When the deal was done payment was made through a third party system that checked the buyer’s ability to pay.
Jim gayes marketed his 3-bedroom holiday home in Wales whith youtube. Each room was featured on the video that further gave extennsive views of the proerty, sold for £ 250.000. This tactic with video on youtube is since taken over by many agencies. Today it is the common way to give online information about property. Youtube is a phantastic marketing tool that is moreover completely free after the video is made! This is what british did in 2007 and it was taken over from what the Americasns did the year before.
The minimized role of an agency in both cases above is to value the property. [Source]
With thousands of listings in x countries eBay is an important source when looking for property to buy or sell. Please first read the real estate guidelines before you use the site commercially. Further explore as much as you like the different subdomains for real estate on eBay.
Real Estate Australia
Real Estate Belgium
Real Estate Canada
Real Estate France
Real Estate Germany
Real Estate UK & Ireland
Real Estate United States