Anthony Dasta of RE/MAX Select Commercial and The Dasta Group in Pittsburgh, PA shares his experience and expertise partnering with Ten-X. With nearly 10 years of experience in real estate, he understood the importance of bringing speed and certainty of closure to his clients. This brought him to Ten-X.

Ten-X: What drove you to choose an online auction over the traditional offline process?

Anthony Dasta: The sale for Ten-X is going to go much, much faster. All the title work is done before you go to the auction. The inspections are done before the auction. You’re going to auction with no contingencies, so you’re going to close in the next 45 days or less. It’s 45 days versus 4 or 5 months. This is a great sales point for my clients.

How has Ten-X helped you?

With an auction site like this, the name of the game is contacts and getting people excited about the property you’re selling.

The market reach on Ten-X is better, which is the key. Whenever I list a property through CoStar and LoopNet and run ads, there’s a good turnout. Ten-X runs a Diamond ad on your properties, which turns it up to such a level that you’re getting everybody in the market.

Working with Ten-X has also expanded my network, not only on one particular property but in general in commercial real estate. Between the entire team, we talked to hundreds of people who buy hotels. Now, we have spoken to hundreds of people about upcoming multifamily properties coming to auction. The way it has built my network is impressive.

What was it like working with the Ten-X team?

I have a team of 3 people I can call anytime I want. We have meetings every week to help sell the property and think of different angles to make a market. I have a relationship with them. That’s what I like. I can talk to anybody I want when the time comes.

Did you consider other auction platforms before coming to Ten-X?

We spoke to other auction companies. One charged double the rate as Ten-X, and they let the seller set the reserve. They pitch that they are free, but the buyer is paying the commission. When the auction company is charging 5-6% commission on the property then buyers aren’t going to meet the reserve because the commission is so high.

Ten-X cares about selling the property and helps with setting a realistic reserve. Ten-X won’t go through the steps of selling the property if they can’t get behind the reserve price.

What do your clients think of online auctions?

When they see 6,000 views on the landing page and 120 signed confidentiality agreements in a few weeks, they are blown away!