auctionfirst: What I learned about auction buyers in todays market
- 05/24/09 12:25 AM
Sellers Pay Attention: Most people think that auction buyers are all investors, but that's not true. Seventy percent (70%) of the residential real estate that we sell at auction are bought by end users. Even in today's market, we see the end users buying at auction. HOWEVER, the property always stands on its own at the end of the day. Real estate auctioneers specialize in accelerated marketing, have a big budget to work with, and target likely buyer pools. It's not unusual for an auction marketing plan to require 200 - 300 hours over 4 to 6 week period to … (0 comments)
auctionfirst: Austin Auction Results - Brazos Place Condo Auction May 17 2009
- 05/17/09 01:28 PM
I attended today's auction of 19 Brazos Condos in Austin TX. Real estate auction company Kennedy Wilson today auctioned 19 units in under 2 hours. Although all of the units had very low starting bids, the auctioneer explained at the begining of the auction that the units had unpublished reserves and that to win the bid, the highest bid had to meet or exceed the unpublished reserves. The auction was extremely well attended, with over 200 packed into the Hilton downtown hotel ballroom. It appeared that many of the bidders had pre-registered with the company - streamlining their entrance into the … (0 comments)
auctionfirst: 200 prospects in 30 days; sold in 14 minutes
- 04/04/09 12:51 PM
AuctionFirst.com UpdateSuccessful weekend auction in Austin, TexasWhat a fantastic auction in Austin, TX on Saturday! It was repeat business from a family we’ve helped before. This time, Dr. Najem (Grandpa) had already moved out of state and was really tired having his house sit on the market unsold after a year. It was a lovely home with 5,000 square feet on a beautiful golf course lot. Since the doctor owned the house outright, he authorized an “Absolute” auction which always attracts the most bidders and in turn brings the highest price possible. There were 10 registered bidders and the home … (1 comments)
auctionfirst: Absolute No Reserve Auction - Golf Course Executive Home in Forest Creek
- 01/17/09 02:51 PM
Open House this Sunday January 18 from 3-4pm. Live onsite auction will be held on Saturday March 7 at 10am. There is no reserve for this property. The retired sellers have relocated out of state and are selling their home to the highest bidder at auction. The property is owned outright and is free of liens. Here's your chance to own a beautiful executive home located on the 3rd Tee Box of Forest Creek Golf Course in Round Rock TX. Name your price. Address: 2147 Hilton Head Drive, Round Rock TX 78664 Apx 4,977 sf: 4 BR, 3.5 BA, 3 living … (8 comments)
auctionfirst: What can $1 dollar get you?
- 02/04/08 01:18 PM
I had an ebay auction last year - sold about 9 designer outfits in one lot. High bidder was $1. Best auction she ever won - her comments, not mine. But I'd have to agree. What about real estate? When I talk with sellers about reserves and their needing to set a very very low or no reserve. A common comment is "but what if no one bids more than $1?" What would your response be if this was to be a no reserve auction? (I'll tell you my comments in part 2). LindaAuctionFirst.comReal Estate Auctioneer … (2 comments)
auctionfirst: Fake Auctions?
- 02/03/08 01:12 PM
Do you consider reserve auctions to be "fake" auctions? I read a blog today and the author commented that he though reserve auctions were fake auctions to him; not really an auction if there's a reserve. A common dictionary defintion for "Auction" is the sale of property to the highest bidder. A common industry defintion for a real estate auction is the firm sale of real property by competitive bidding. In my experience, 80% of reserve auctions sell to the highest bidder, even if under the reserve because the seller was willing to take the high bid. What is your opinion and why? … (10 comments)
auctionfirst: Top Austin Agent launches Auction company
- 02/02/08 10:39 PM
Hi All, Newsflash! Robert Grunnah of Castle Hill Investments in Austin TX has launched a real estate auction company Home Auction Live! - you can find it at www.HomeAuctionLive.com. Robert is Austin's #3 top producer for 2006, according to Austin Business Journal, with over $50M in annual sales. Looking for a way to diversify his existing brokerage that focuses on rental properties and investors, Robert decided that real estate auctions are here to stay and gaining appeal by sellers as an alternative way to market and sell their properties. Home Auction Live launched February 1st and its first auction is scheduled for March 1, 2008 … (2 comments)
auctionfirst: Our Toughest AUCTION of 2007
- 01/09/08 06:04 PM
Our Toughest Auction of 2007 It promised to be a huge break - our first auction of a high-end property in Chapel Hill, North Carolina. Best yet, the property was in a prominent location within walking distance to UNC and there was no way to miss our conspicuous 3x4 foot auctions signs. The sellers were well known, going through an equitable divorce and two months behind on mortgage payments. The real challenge however, had to do with events that occurred two years prior in 2005. That's when an inflated appraisal set the property's value at a cool one million dollars. The sellers, … (0 comments)
auctionfirst: Los Angeles: Real Estate Auction class 10/12/07
- 09/30/07 08:29 PM
Hey all of you active rain members in the Los Angeles County area! Here's a great opportunity to learn more about real estate auctions and how you can benefit/profit from this hot trend that's becoming a preferred method by owners and agents in selling property. Add some very important new tools to your real estate practice. Let the Auction Option help distinguish yourself in this competitive profession. The seminar is also tremendously useful for builders, investors, auctioneers, appraisers and lenders. This 3 hour seminar is specifically designed to present and discuss the accelerated method of marketing real estate thru auctions in the California marketplace. … (0 comments)
Upcoming Auctions The following auctions are scheduled for October/November. Complete details are available in the auction bid package. Download the pdf auction bid package from this link: http://www.auctionfirst.com/property.asp
Real Estate Auctions in the News A number of articles on real estate auctions have appeared in the news.
* Auctions catch on as way to sell houses CBS News, September 29, 2007 http://www.cbsnews.com/stories/2007/09/27/earlyshow/contributors/raymartin/main3304538.shtml
auctionfirst: Buyer Hunters - I need my own HGTV show!!
- 09/27/07 09:44 PM
I consider myself to be a Super Buyer Hunter. I probably need my own costume complete with mask and tights - I'm that super! ok - just kidding. But - as a real estate auctioneer, we have a time crunch of usually 4 to 6 weeks to find any/every buyer/interested prospect of a particular property before the actual auction event. On average, we put 200 to 300 hours in each project. That time is spent hunting for buyers; turning over every last idea of where the buyer pools are and reaching them. Guerilla marketing helps - which includes the obvious print, direct … (1 comments)
auctionfirst: Real Estate Auctions on the Early Show 9-27-07
- 09/27/07 09:30 PM
Did any of you catch the Early Show yesterday? Their financial guru Ray Martin talked about how more sellers are choosing auctions as way to sell their real estate. I agree. Even we can see some effect of this on ActiveRain - as there are now 91+ auctioneer members - which I'll toot my own horn that I was the first on ActiveRain and solicited Matt to add it as a category. I think we even beat out attorneys at this point. In any event - auctions no longer = fire sale! Auctions do equal motivated seller. If you're a seller, get … (0 comments)
auctionfirst: Have you gone to CHURCH lately?
- 09/23/07 02:38 PM
OK - I'm not trying to judge nor am I really looking to find out your religious affiliations. However, have you noticed in the past 5-10 years how churches are being redefined. I'm talking about the real estate aspect of course. Churches have unique property needs, financial situations, and usually make decisions on a committee or congregational basis. There is constant transition within the church real estate industry - downsizing, upsizing. When working with a church to sell their edifice and additional real estate holdings - there is a need to manage the timing of the sale of all the pieces at one … (3 comments)
auctionfirst: Whaaaat??? Sellers Pay for Marketing - Part 3
- 09/23/07 02:17 PM
As a real estate auctioneer, it's not uncommon that many of the calls I get are from sellers whose properties have been on the market for some time - and the property has not yet sold. The initial line of questions and answers is often similar. How long as it been on the market?Why hasn't it sold in your opinion?What do you need to net from the sale?What interests you about auction marketing? Usually the bottom line is that the seller listed the property too high, missed the market at that time, and then over time the property became stale and the seller earned a … (0 comments)
auctionfirst: Whaaat? Sellers pay the marketing expenses?
- 09/18/07 02:16 PM
So here's the deal folks - especially true in a buyer's market.... You want to sell your property? You are motivated and have a genuine need to move on with your life? Of course, we all know that you don't want to fire sale your property - and that you'd like to keep as much equity as possible. So why wouldn't you demand more control in the marketing of your property. Do you really know what your agent is spending on marketing your property? Do you know whether your property is being used to 'shop' buyers into other properties? If you … (2 comments)
Real Estate Auctions are an important marketing and sales tool that benefits consumers and real estate professionals. This blog focuses on VOLUNTARY real estate auctions where sellers want a time-defined sale of their real estate thru competitive bidding.
Sellers Pay Attention:
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