Real Estate Auctions: More Common Than You May Think

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Services for Real Estate Pros with Crye-Leike, Realtors

Depending on where you live, you may not have heard about a lot of real estate auctions. In many areas of the Midsouth though real estate auctions are becoming a more desirable and frequently chosen method of sale for certain kinds of properties. 10-15 years ago if you saw a sign for an auction you automatically thought that it would be for a foreclosure or distressed property sale. That is simply not the case anymore.

Real estate auctions happen with many different types of properties.

  • Single Family Residential Homes
  • Land
  • Lake and Vacation Properties
  • Upscale Homes
  • Unique Properties
  • Commercial Properties

The National Auctioneers Association reports tremendous growth for the auction industry in 2006 - 7.1% increase from the previous year with total revenues of $257.2 billion. The largest area of growth was in residential real estate auctions with 12.5% increase in 2006 for $16 billion in sales.

So if you're in the South, stop by one of the Crye-Leike Auctions. Check for upcoming real estate auctions here. Often auctions are like a community gathering. You never know who you'll see at an auction!

From the desk of Tim Brewer, Crye-Leike Auctioneer in Middle Tennessee

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Rainmaker
656,132
Bob & Carolin Benjamin
Benjamin Realty LLC - Gold Canyon, AZ
East Phoenix Arizona Homes
Interesting. Have not participated in an auction. Have never had a reason to.
Jul 09, 2007 05:20 PM #1
Rainer
76,217
Todd Murphy
Fitts Agency - Tuscaloosa, AL
Angie, I would like more information on auctions.  A developer/home builder friend of mine in New Jersey just started his own auction company and I'm intrigued.  I would like to add that to my portfolio of services.
Jul 10, 2007 12:09 AM #2
Rainer
103,150
Angie Vandenbergh
Crye-Leike, Realtors - Memphis, TN
A Crye-Leike Blogger
Hi Todd, Thanks for your interest. We have a couple of really knowledgeable auctioneers at Crye-Leike. Lanny Foy in Memphis and Tim Brewer in Middle Tennessee. We also have auctioneers in other areas, none in alabama though.... so the licensing rules would probably be different. But you could try researching online at the National Auctioneers Association and talking with other auctioneers. Good luck to you.
Jul 10, 2007 01:23 AM #3
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Rainer
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Angie Vandenbergh

A Crye-Leike Blogger
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