Real Estate Marketing is Changing

To some, this post might sound like me just beating a dead horse.  I've got to tell you though, the ways real estate professionals market property for sale is changing.  Today there are websites, email, media relations and TV.  You guessed it.  I am also going to spout off about real estate auctions.  This afternoon is another first as our first ever ONLINE ONLY property auction kicks off due to client demand.

Back to the story.....

Yesterday I received an interesting call.  It was from a Top Producer here in Columbus. We have been talking on and off for a few weeks about working together to offer higher end properties at auction.  He wants to be able to offer his clients all of the options available to them.

Yesterdays call was even more interesting though.  We were not talking about his clients properties.  We were talking about his.  His house.  Nice area.  Desirable.

We talked about timing of the auction, specific issues such as 4th of July Holiday.  We talked about specialty ads in publications targeting executives.  We discussed TV and Press Relations.  We discussed (the evil) email.

I am supposed to meet with him at the property this afternoon to discuss things more in depth.  He is really serious.

I'm not saying that auctions are right for every situation or every property.  That would be a stretch.  They can be good for a lot of properties and a lot of situations however.

If I have not yet convinced you to investigate auctions as an option for selling property, I am going to keep trying.  I would encourage you to reach out to a real estate auctioneer in your area for details.  You can find them here on Active Rain and Localism or you can go to http://www.auctioneers.org/, the website for the National Auctioneers Association.

I leave you with this thought.  Over 80% of the properties that I have offered at auction have sold.  If they didn't, it was because the seller could not afford to take market rate for the property.  Over 98% of the properties that end up "In Contract" close.  95% of the properties that close, do so without timeline extensions.

 

 
Posted by Rich Kruse on 06/13/2007 06:50 AM   Comments (9)   , , , , , ,  
Post is included in group: REO
Post is included in group: Real Estate Auctioneers

9 Comments on Real Estate Marketing is Changing

Hi   Rich !

Thanks for sharing this info with us. Keep posting !

Nalliah Thayabharan

Commercial and Residential Building Inspector

Expert Building Inspections Ltd

06/13/2007 07:10 AM by Nalliah Thayabharan Home Inspector Commercial Building Inspector Toronto (Expert Building Inspections Ltd)

You are right the market is changing and this type of selling is becoming more prevalent. I sell REO properties and the major players are starting to see this as a wa to sell nationawide and having a local broker complete the transaction for the winning bid

06/13/2007 07:39 AM by Paul Moye, Broker, ABR, GRI, e-PRO (Keller Williams Realty Franklin & Volunteer Trust Mortgage)

80% of your auctioned listings, sell? Wow. That's a good percentage. Of course, from what I read in your posts, you do a lot of homework and legwork to make sure they're successful.

06/13/2007 11:30 AM by Lisa Hill (Daytona Beach REALTOR®) (Adams Cameron and Company)

Rich, I like it. I preach that everything is changing quickly and you have to stay ahead of the curve. I am starting think, "Why not sell at auction?"

06/13/2007 03:00 PM by John Evarts (Classic Property Management of Santa Clarita)

Wow, you can't argue with the numbers!  Mathematics can be a formidable opponent to those with objections!  I guess the world of Ebay has collided with the world of real estate.

06/13/2007 06:43 PM by "Antelope Valley Property Management" Jonathan Mitchell (Classic Property Management)

Hi Rich,

80% sounds great! 

For my own education if I lived in OH and was a RE agent, what would be the best way for me to educate my clients on the auction process, and also, as an agent, what is the best way for me to work with an auctioneer (should I register my client in advance, or just show up, etc?)

Thanks for your help!

Shauna~

06/13/2007 07:08 PM by Susan X (www.propertyauctionsusa.com)

Very impresive!

 

Bill

06/13/2007 08:31 PM by William J Archambault Jr (The Real Estate Investment Institute )

JM - Numbers don't lie.

SM - Auctioneers all over the US are conducting eduational sessions on auction.  I would call an NAA auctioneer and ask them to speak.  I am considering a web based ting or conference call thing.  The best way to work with an auctioneer is to call them and ask about their buyer broker terms.  Some offer fees and some do not.  On the sell side, all that I know will offer fees if you refer them a seller.

At my auction, you would need to register the client in advance and if you did, I would be thrilled to pay a co-op.

R

06/13/2007 08:52 PM by Rich Kruse (Gryphon USA, Ltd.)

Rich,

It sounds worth investigating.

Fran

 

 

06/14/2007 12:08 AM by Fran Gatti - Crescent City CA Real Estate (RE/MAX Coastal Redwoods)

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Real Estate Agent: Rich Kruse (Gryphon USA, Ltd.)
Rich Kruse
Columbus, OH
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Gryphon USA, Ltd.

Office Phone: (614) 885-0020 Ext.: 17
Cell Phone: (614) 885-0020
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A lighthearted yet informative look at the real estate and asset sale professions. Gryphon services clients sale and management problems with creative and sometimes extremely aggressive solutions. Primarily a servicer for sellers, Gryphon's professional do also assist investor/ developer buyers with acquisition transactions where the company sometiems participates as a principal.

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