Auction Types

1. Onsite / In-Room Auctions

• Traditional ballroom/auction room: Properties sold live with bidders present.

• On-property auctions: Conducted at the actual property being sold.

• Common in: U.S. (especially foreclosure sales), UK, Ireland, Canada.

2. Online Auctions

• Timed Online Auctions: Bidding open for a set period (e.g., 7–30 days).

• Live-Streamed Auctions: Real-time bidding via webcast, replicating the live room.

• MLS/Portal Integrated Auctions: Listings connected directly to auction platforms.

• Rapid growth in all four markets.

3. Hybrid / Simulcast Auctions

• Bidders participate both in-room and online simultaneously.

• Auctioneer calls bids from the floor and online bids stream in real-time.

• Popular in UK & Ireland (“modern method of auction”) and increasingly in U.S./Canada.

4. Modern Method / Conditional Auctions

• Buyer pays a reservation fee and gets extended time (28–56 days) to complete.

• Unlike unconditional auctions (exchange of contracts immediately), this gives more flexibility.

• Very common in UK and Ireland, emerging in Canada and U.S. broker-driven sales.

5. Sealed Bid Auctions

• Bidders submit confidential offers by a deadline.

• Seller reviews and selects winning bid (not always highest—can consider conditions).

• Used more in UK and Ireland for competitive property situations.

6. Government / Courtroom Auctions

• Conducted at courthouses, government centers, or trustee offices.

• Examples: U.S. foreclosure sales on courthouse steps, Canada judicial sales, UK repossessions, Ireland receiver/NAMA disposals.

• Often restricted rules and immediate cash requirements.

Summary – Global Auction Selling Formats:

• Onsite (in-room / on-property)

• Online (timed / live-streamed / MLS-integrated)

• Hybrid (onsite + online together)

• Modern Method / Conditional

• Sealed Bid

• Government / Courtroom

Categories of Real Estate Auctions

1. Residential Property

   • Standard homes, condos, leaseholds/freeholds

   • Luxury and lifestyle estates (resorts, ranches, chalets, waterfront)

   • Probate and executor sales

2. Commercial & Mixed-Use

   • Retail, office, industrial, warehouses

   • Hotels, pubs, restaurants

   • Mixed-use buildings (residential + retail/office)

3. Land & Development

   • Agricultural and farmland

   • Development tracts, brownfield/greenfield sites

   • Timberland and rural acreage

4. Distressed & Financially Driven

   • Foreclosure, repossession, power of sale

   • Bankruptcy, trustee, and receiver sales

   • Tax lien and tax deed auctions

5. Government & Institutional

   • Federal, state, municipal, or council surplus land and buildings

   • Public housing disposals

   • Special government agencies (e.g., GSA in U.S., NAMA in Ireland)

6. Online & Modern Method Auctions

   • Timed online-only bidding

   • Hybrid/conditional auctions (longer completion periods)

   • MLS-integrated and broker-led online auctions