CHASE REO USDA moving to Auction.com

I know USDA lending is a small part of the loan market but my contacts and new assignments with this group are now going straight to auction.  They are marketed for 30 days on Auction.com and then auctioned off every week for 8 weeks.  The price is reduced on the auction every week from what I understand.  If the asset is not sold at auction in that 8 weeks then they are giving back to broker to sell on MLS. 

Broker still earns commission on list side even if it is sold at auction and has the opportunity to double end the deal through Auction.com.

Interesting way to market properties.

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