Real Estate Auction Update

As an experienced real estate auctioneer, I receive lots of calls each week from people frustrated that their home hasn't sold. What I have seen over and over is this - when a seller is really ready to emotionally let go of the house, the house sells.  Based on our time together today, I don't th...

An auction in conjunction with a short sale solves three of the biggest problems agents deal with on short sales:1. Quickly getting one or more buyers on contract - Having a set date for receiving all offers sets an urgent deadline and gets one or more buyers on contract within 30 days. I once h...

How do you keep a buyer's feet held to the purchase contract on a short sale when it can take forever to get bank approval on the deal? Through an auction contract that has no contingencies for financing or repairs and requires a hefty non-refundable deposit.  We just closed yesterday on yet anot...

Here's a snapshot of one event in an otherwise mundane week. One of your luxury homes sold and will close in 10 days so you're out at the property checking security.  The mansion sits on 5 wooded acres that backs up to more wooded acres in the middle of nowhere & deer wander the streets at all h...

In a volatile market, real estate auctions can be an excellent vehicle to help establish market pricing quickly.  If you set up a Google Alert for "real estate auctions", you'll notice that a lot of builders and developers are turning to the auction method not necessarily to "liquidate" a project...

(Photo above: The bidding is underway and takes 8 minutesCASE STUDY OF A SUCCESSFUL REAL ESTATE AUCTIONExperienced real estate auction firms know how to set up a successful auction and here's a textbook example from start to finish.Qualifying the seller:  The seller in this case was a real estate...

What makes a real estate auction successful?  An experienced auctioneer can generally tell if a prospect is a good auction candidate or not by running through the following 6 questions: 1. How long has the property been on the market? Why do you feel the property hasn't sold? Any showings? What f...

When buyers compete the seller wins!  No question but there are tons of buyers for real estate out there. They just don't want to overpay.  A professionally run auction is an efficient way to bring buyer and seller together quickly and seal the deal. Last Saturday we auctioned 8 new construction ...

What's it like auctioning your own home?  Here's my story... I'm a professional real estate auctioneer/broker and have auctioned over 500 properties including real estate for clients, friends and family.  Frankly, I would never consider selling my home using any other method. Having been in real ...

Real estate auctions attract a lot of buyers and many come to the auction unrepresented.  Since I've witnessed agents trying to sign up buyers 2 minutes prior to the start of an auction, we now require agents to register their buyers a day prior to the auction.  It protects everyone, especially b...