The Norris Group would like to especially thank Elite Auctions, now two-time supporter of I Survived Real Estate. The Norris Group successfully auctioned its office building in 2007 and have used Elite several times since. We appreciate their friendship and service. You can hear Randy and Mike Grigg on our radio show. You can visit their business at www.SellWithAuction.com

About Elite Auction

Elite Auctions was formed out of a need to sell residential real estate more efficiently. The owners of the company are investors who buy and sell property, primarily single family homes. They have since expanded and also sell commercial property, land, farms, and ranches using their proven competitive bidding strategy.

Obtaining the highest price in the shortest period of time has always been their priority. In traditional sales, where property is listed with the hope of attracting a buyer using the MLS and a sign in the front yard, the owners found that in most markets it takes much more to get the job done quickly. “Many times we had vacant houses that were fixed up. It was critical that our carrying costs (interest on acquisition costs, labor and materials for fix up costs, insurance and property tax expenses) be reduced by selling and closing as soon as possible after the rehab was completed.

Before we assisted others in selling their property, our own real estate was used as “guinea pigs.” After two years of selling our property using the auction method and after tweaking and adjusting our marketing program, we felt comfortable selling for others.

Our goal was to sell real estate quicker and more efficiently without sacrificing the net amount our clients receive at closing (compared to the traditional list and sell method).

Several of our clients are Realtors who make their living selling real estate. Due to the fact they come to us to not only sell their own properties but also properties for their clients, we must be doing something right.

Many people think when a property is offered for public auction, the resulting price will be much lower than if it was offered at a listed price. More than likely if the property is listed at exactly the right price the marketplace is willing to pay, and the market is properly reached, the property will most likely sell quickly. The problem is most properties are not listed at exactly the price the market is willing to pay… therefore most properties don’t sell or end up selling at a lot less than their potential.

Appraisals and comparable sales are just guesses of a property’s true value. Unlike a bar of gold or a share of stock, where price is set daily by supply and demand, any piece of real estate has its own unique value. Its price has little to do with value, people make value. Real estate is worth whatever people will pay. The auction method, together with our state of the art marketing program, where much more than the MLS and a sign are used to attract buyers, allows the price to match what the property is really worth. By creating both urgency and emotional competition using the auction method, we’ve found our clients avoid selling too cheap or sabotaging a sale by listing at a price that’s too high.

Hopefully this gives you some insight into how our service is designed.

Thank you for your interest in our company. Please feel free to contact us if you want more information or would like to sell your property quickly at the highest price the market will bear.