A photo believed to be the only one of its kind of legendary gunslinger Billy the Kid sold at auction this weekend for over five times the amount that the auction's organizers thought it would. The experts believed that it would fetch somewhere around $300,000 - $400,000. It actually sold for $2,300,000. The buyer was William Koch, a Florida billionaire. I guess ol' Bill Koch is a pretty big Billy the Kid fan. What does this have to do with real estate? The auction method of sale is the best way to sell property quickly, and for the highest … (3 comments)
real estate auction site: Auction Myths vs Realities
- 02/01/11 02:47 AM
There are a lot of myths out there concerning real estate auctions. Many believe you must be a licensed Auctioneer in order to hold an online auction. In 47 states, you do not need an auctioneer's license to hold an online auction of your listing(s). As long as the property is listed for sale with a licensed Real Estate Broker, you can hold your own online auction. Let's dispel a few more myths while we're at it... Myth - Auctions are only for distressed properties Reality - Auctions work best whenever two or more parties are interested in a property, … (2 comments)
real estate auction site: Is That a Threat? No, It's a Promise.
- 01/13/11 02:18 AM
I keep hearing stories from all over the country about how stale REO listings suddenly sell when pulled from the Listing Agent for auction. Interesting how just the "threat" of an auction is enough to get someone off the fence. The vast majority of us are still in a Buyer's market, and will be for the foreseeable future. Buyers know that they need not act quickly on a listing, so they don't. But when confronted with the possibility that the property is going to auction, they fear losing it, and make an offer before the auction takes place. What a great … (0 comments)
real estate auction site: The Shotgun vs The Sniper
- 01/11/11 03:27 AM
The auctioneer has a shotgun, the Realtor, a sniper rifle. When it comes to effective marketing, the sniper wins every time. Are you tired of REO managers handing over your listings to an auctioneer, and cutting your commission? The perception is that the auctioneer does a better job of marketing and selling those properties than a Realtor does. The reality is that the auction method is what gets the property sold, not the auctioneer. A Realtor with local market expertise can out market (with the help of his trusty sniper rifle) an auctioneer (and his shotgun) every time. Don't tell me that a billboard … (2 comments)
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