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Top Three Questions to Ask When Choosing an Online-Auction Service

Posted: 8/25/2016
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Online-auction platforms offer self storage business owners a convenient alternative to the traditional auction process, often with improved loss recovery. However, there are three main items owners should be mindful of when selecting the right online-auction service provider. Check through any online-auction platform’s “Term & Conditions” to discover the answers to these three very important questions.

1. Is a Credit Card Required for Registration?

A public lien sale should ensure the disposal of a delinquent storage unit in a commercially reasonable way. In compliance with the US lien laws; online-auctions should allow open viewing of the unit’s contents to the public. Did you know that over 50 million Americans do not have a credit card, which then reduces the buyer’s pool for the seller? Self storage owners and operator should be concientious of this when selecting an online-auction service provider as a select number of auction platforms offer free registration to remedy this situation.

2. Is there a Cancellation Fee?

Storage operators delight when a delinquent renter pays off their account balance. However, there may be a cancellation fee imposed by the online-auction platform. In this case, it is the decision of the storage operator to pay the fee or impose the charge on the tenant. Alternatively, self storage owners and operators can look for an online-auction service provider that does not charge a cancellation fee in the event of a paid balance. 

3. Does the Online-Auction Platform Offer Customer Support?

Make sure the online-auction service has live and online support to handle the plethora of inquiries. As winners of the 2015 Best of Customer Service award, iBid4Storage provides online tutorials for both buyers and sellers with 24/7 assistance.

The object for any storage operator is clear – recoup as much of the debt of a defaulted unit. With free registration, no cancellation fees and excellent customer support, it’s easy to see why in 2016, iBid4Storage was voted Best Online-Auction Services in the ISS readers-choice poll. For more information, contact info@ibid4storage.com and let us help you with your debt recovery solutions.

About the Author

Chuck G is the content developer and social media manager for iBid4Storage, an online auction-services company serving North America. For more information, call 855.424.3669; e-mail customer-service@ibid4storage.com; visit www.ibid4storage.com.

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