Real Estate Auctions Hit the Airways

Auctioneer Williams and Williams is making television interactive. The Tulsa, Okla.-based real estate auction house will auction 70 homes during a live television program on the ION Television network. The “absolute” auction means there are no price reserves on the homes and the highest bidder will be awarded the property. “An ‘absolute’ auction provides the most transparent buying experience and gives bidders confidence that the high bidder will be the winner,” Williams & Williams president and chief operating officer Pamela McKissick said in a statement. Homes from Ohio, Florida, Missouri, Indiana, Arizona and other states will be on the auction block. The auction will also be broadcast on the Internet, and viewers can join the prospective buyers at the auction by bidding via phone or online. Auction Network is presenting the program in coordination with Williams and Williams. “The format puts viewers at the front of the auction action allowing them to bid real time from the comfort of their home or office.  This innovative format creates a whole new marketplace that few real estate sellers have been able to experience,” Auction Network general manager Fontana Fitzwilson said in a statement. Prospective bidders can register on Auction Network’s Web site. Write to Austin Kilgore.