Newsec launches an RE auction platform

Newsec, an international real estate consultancy company, which has been engaged in the organising of auctions for both private and public sector organisations since 2016, offers a new product on the real estate (RE) market – the auction platform This platform will provide an opportunity to inform a more substantial number of potential buyers about the real estate offered, to improve the dissemination of information, and to give more details about the objects being sold, including the insights of RE professionals on the use of an object or its potential conversions.

The platform is intended for companies of public and private sectors and individuals seeking to successfully sell or purchase real estate objects in Lithuania. The participation of Newsec experts in the process helps to accurately identify the benefits of real estate and deliver it to the target customers.

“Electronic RE auctions deliver an effective way to sell RE objects, eliminating the risk of the agreements between sellers and buyers, ensuring timely submission of information and equal rights for all participants. The auction takes place in cyberspace; thus the participants do not need to go to other cities or change their plans. A simple and well-organised auction process provides an opportunity to attract more participants”, says Ms Jurgita Šilaikytė, the Head of the Brokerage Services Group at Newsec.

According to Ms J. Šilaikytė, the platform is highly relevant for public sector organisations, which seek transparency in the sale of various types of real estate.

“The state owns more than 28 thousand real estate objects, the total area of which amounts to 10.45 million sq. m. Municipalities and their companies also own thousands of objects. A large part of this property is not used and unnecessary for the implementation of the essential functions. Moreover, this property is located in various cities and towns of the country. The principle of e-auctioning, together with the consultations by RE professionals, will help to attract potential buyers of such property and successfully dispose of the property – even if at first glance the property does not look particularly appealing,” says the Head of the Brokerage Services Group at Newsec.

Another advantage of the electronic auction platform, which is especially appreciated by private sector companies, is the possibility to quickly sell surplus assets at the best possible price on the market. The wide range of objects offered by helps to attract more potential buyers, thus increasing competition and creating value for the owner of RE objects.

“On the auction platform, not only administrative, recreational, commercial or industrial objects can be sold, but also land or residential properties, which can be purchased by both natural and legal persons. The objects offered on the action are located throughout Lithuania; therefore the platform is relevant for both small and large buyers and even those who buy real estate for the first time. A large number of participants stimulates competition and ensures that the final sale price of an object is optimal. The service can also be used by banks that own problematic assets and intend to sell such property at market prices,” says Ms J. Šilaikytė.

Newsec, offering an online RE auction service, has substantial experience in investing in RE transactions and mediates in the lease and sale of commercial property. The Company provides real estate management services, represents interests of its clients in developing new or existing projects, conducts market research and analysis, and provides licensed property and business valuation services.

“The main goal of our experts is the sale of property while meeting the expectations of each customer. An auction platform that brings together technology and expertise is a big step forward in the RE market. For each object we can perform analysis, prepare a sales strategy, and carry out marketing actions – we take care of the entire process, which results in the sale of an RE object for the best market price. We have noticed that information about auctioned objects reaches a wider range of potential buyers, and the presentation of an object with not only technical information but also real estate professionals’ insights on the use or conversion capabilities of the object allows selling it at the best market price. Such a process brings benefits to both the buyer and the seller of the property,” says Ms J. Šilaikytė.

Newsec has been performing auctions since 2016. During more than three years the Company has organised 27 complex auctions, sold over 150 real estate objects, and the total value of the sold assets exceeded 40 million euros. The services of Newsec auctions have already been used by UAB “NT Valdos” (“Lietuvos energija” group), AB “Lietuvos radijo ir televizijos centras, AB Lietuvos paštas, AB “Telia Lietuva”, UAB “Litectus” (SEB Group).

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