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Real Estate Auctions

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Mike | 10 Oct 2014, 02:33 PM Agree 0
Having just read the brief column on Real Estate auctions I must say "here we go again". I am amazed that no matter what the change or possible change in the Real Estate industry, the press can always find someone who says that this or that is going to effect the Real Estate industry negatively. You've just asked a Real Estate Broker how auctions will effect the industry and I would surprised if he's even attended one. I have been a realtor since the 80's, started my own brokerage in 1995 and then founded North American Auctioneers in 1999. We regularly receive referrals from Realtors who are having a difficult time selling properties and it has been beneficial for us, them, and their clients. We charge commissions anywhere from 4-9% depending on the difficulty and pay cooperating brokerages very good commissions for selling our properties. I have never seen traditional marketing or Real Estate come anywhere near our marketing campaigns, and most properties are marketed for 30-45 days prior to sale date. In the past we have auctioned properties where a 45 day marketing budget ran to just under $20,000. I'd say that buys pretty good exposure.
In the future if you are looking for advise on brain surgery, don't ask your pharmacist, find a brain surgeon. Same goes for every other industry.
Have a great Thanksgiving everyone and if you're having a problem getting a property sold and think an auction could work, drop me a line. We pay a 1.5% of sale price referral on closing.
  • Bernie Mead | 10 Oct 2014, 03:01 PM Agree 0
    The auction is really good for families where a mother or father has died in the family home and where the children no longer live in the community. We need to embrace this, guys.
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