The present invention provides a system and method for providing a real estate auction system. In architecture, the system includes a server device on a network comprising a mechanism for posting a real estate property for auction, a mechanism for acquiring a plurality of data items describing the real estate property for auction from a seller remote device, a mechanism or making the real estate property available at auction to a bidder remote device; and a mechanism for accepting a bid on the real estate property for auction from at least one potential buyer for a predetermined period. The present invention can also be viewed as a method for providing a real estate auction. The method operates by (1) posting a real estate property for auction; (2) acquiring a plurality of data items describing the real estate property for auction; (3) making the real estate property available at auction; and (4) accepting a bid on the real estate property for auction from at least one potential buyer for a predetermined period.