nc auctioneering: Why Are Lenders Making It Hard To Stimulate The Economy?
- 10/24/09 05:45 AM
I don't know about you, but as a real estate broker and professional auctioneer, I have to wear many hats. One of the hats we have to wear is that of working short sales for a client that is upside down financially, viz., owing more on their home than what it is worth in today's market. I don't recall the exact source, I want to say it was NAR, [National Association of Realtors] but back in May-June etc., almost 30% of the homes sold were purchased by investor's via short sales or REO. The investor bought the property with the idea … (1 comments)
nc auctioneering: Nationalizing Our Financial Institutions
- 09/23/08 01:06 PM
As I write this, I realize that much can change this week with regards to the Feds final plans and Congressional approval to rescue the banking industry. So what I am about to say is based upon what is currently being proposed. I also realize that what I am about to say will be only understood by a handful of people who understand the economics of this country. My disclaimer is that I am not an economist but someone who grew up under a constitutional form of government. What is being proposed by the Federal government is socialism, spelled with a … (0 comments)
nc auctioneering: Should Realtors Become Auctioneers?
- 09/11/08 04:53 AM
I received an interesting phone call from a realtor in California. She had read some articles I had written about using an auction as a first choice method of selling a home, rather than as a last option. Her question to me was this, "Should I become an auctioneer?" My first tacit thought was, "Go for it!" Yes, auctioning a home is a fast way to sell it, but not all homes will qualify for an auction. But before I get into answering the question, let me discuss briefly what an auctioneer does and does not do. Some think that an … (0 comments)
nc auctioneering: IS THERE A REAL ESTATE TURN AROUND IN THE MAKING?
- 07/25/08 02:38 AM
In an effort to turn around the depressing attitude of many realtors across the country because of the market we are in, some local North Carolina real estate publications are trying to put a positive spin on the market by stating that 2009 will be good year and that preparation needs to be made now to take advantage of the 2009 "turnaround." Yet, several of the major on-line networks reported this morning that foreclosures doubled during the first half of this year and that 2009 doesn't look any better. As a North Carolina auctioneer, I have tried and tried to approach … (5 comments)
nc auctioneering: UNDERSTANDING THE DIFFERENCE BETWEEN AN ESTATE SALE AND AN AUCTION.
- 07/18/08 01:54 PM
My mother recently passed away leaving property, both real and personal, to me, my two sisters and brother. My dad died a few years earlier. He was a pack rat, never willing to throw anything away. He was always buying things that he felt was a good deal, even though he didn't need them. Some items appear to have value and some we are not sure about. We received a letter from a company that claims they are "estate sale specialist." My brother says we need to talk an auctioneer. What's the difference? An excellent question! When a family member dies … (5 comments)
nc auctioneering: Who Pays the Marketing Fee for a Real Estate Auction?
- 06/11/08 11:56 AM
The simple answer to the question is the seller pays the marketing fee but it can be paid in various ways. In today's upside down real estate market where the seller normally needs to sell quickly, the auctioneer will find that many homeowners are unable to front the marketing fee due to their current financial situation. The auctioneer and homeowner can decide on several options. For example, if the homeowner agrees that the auction will be "absolute", viz., sold to the highest bidder regardless of price, then our firm will front the marketing fee for the homeowner with the agreement that … (0 comments)
nc auctioneering: Passive Seller vs. Motivated Seller
- 06/03/08 12:51 PM
We receive calls from homeowners who are considering an auction as a method of selling their home. These potential auction sellers will basically fall into two categories: a passive seller or a motivated seller. The passive seller has a predetermined dollar figure in mind they want from the sale of their home. In a lot of cases, it is very unrealistic. They are very demanding of the auctioneer. They do not want to spend a lot of money in marketing the property for an auction, but they want a lot of people to show up at the auction. They have been … (0 comments)
nc auctioneering: What is a Ringmen?
- 05/29/08 06:32 AM
I recently went to a large auction out of curiosity. I didn't bid but just watched. I saw men and women jumping around, moving among the crowd, yelling, "Yes" or "Yep" or something to that affect, flinging their hands up in the air. I asked someone what they were doing and I was told they were Ringmen? What is a Ringmen? Ringmen are the men or women who stand in the crowd and relay the bids to the auctioneer. Other terms such as bid spotter, bid assistant or ring person, do the same thing. All refer to the person taking bids … (0 comments)
nc auctioneering: What If My House Doesn't Sell at Auction?
- 05/22/08 01:56 PM
There are basically two type of real estate auction. An "absolute" auction is where the property is sold to the highest qualified bidder with no limiting conditions or amount. The seller may not bid personally or through an agent. Also known as an auction without reserve, this type of auction means the property will be sold to the highest bidder regardless of price. A "reserve" auction is when the seller or his agent reserves the right to accept or decline any and all bids. A minimum acceptable price may or may not be disclosed and the seller reserves the right to … (4 comments)
nc auctioneering: A Real Estate Auction Should Not Be A Last Resort Method
- 05/16/08 10:03 AM
Someone recently asked me if an auction should be the last resort to sell their home. She and her husband lived in a nice neighborhood where the homes and yards were kept in pristine condition. They thought their home would sell pretty fast. They had listed their home with a realtor with a six month listing agreement. Since then, they have had very few showings. The agreement expires at the end of the month and they are not sure what to do. It was her understanding that selling a home by auction was only for distressed properties, like foreclosures, or government … (0 comments)
nc auctioneering: Consignment Auctions
- 05/14/08 01:00 PM
My mother recently passed away and left her home and furnishings to me. My husband and I want to move into the home but we do not need all the furnishings. I don't want to do a "yard sale" as I feel some of her things are of value and may not get a good price. A neighbor told me to find someone who would sell them for me on consignment. Would an auctioneer be interested in something like this? There are many auctioneers that have galleries that conduct consignment auctions. There is a caveat though. Most auctioneers do not like … (2 comments)
nc auctioneering: Do I need an Auctioneer?
- 05/12/08 09:56 AM
I own my home and have been thinking about selling it and moving to another state. I have talked with several realtors and just can't get excited about listing my home with them, especially in today's real estate market. I need to sell quickly. I have been doing some reading about auctions. It seems home auctions are becoming more popular as a way to sell homes fairly quickly. My question to you Ron, is, why can't I just auction the home myself? As owner of your own home, you could but do you really want to? You could operate on yourself … (0 comments)
An informative blog discussing new ways of selling residential and commercial real estate in the state of North Carolina using professional real estate auctioneers.
I don't know about you, but as a real estate broker and professional auctioneer, I have to wear many hats. One of the hats we have to wear is that of working short sales for a client that is upside down financially, viz., owing more on their home than what it is worth in today's market.
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