Real Estate Auctions- Working Together with Realtor's
Working closely with Realtor's at a real estate auction is a very important asset to have as an auctioneer. I look to work in conjunction with broker's who have clients that will succeed in the real estate auction method. Working together to asses the level of motivation a particular seller or buyer has is an intricate part of the process. Broker participation is a great way to find new opportunities for your existing clients in an ever changing market. Through the use of real estate auctions, the broker is able to present a varied range of options to his/her client to choose from. The more options, the better chance of moving things quickly. Because the real estate auction method does have a designated time allotment to sell the property, it is a good option for those looking to liquidate assets quickly. The auctioneer works together with the broker to present the best and highest possible amount for the asset. If the broker client is the winning bidder or highest bidder at the close of the auction, whether it be a live real estate auction or an online real estate auction, the participating broker will be able to walk away with the arranged percentage set up prior to the auction.
With so much competition in today's market, it is becoming necessary for those in our industry to look outside the box and begin to cooperate and work with aggressive marketing plans to obtain the highest dollar amount for our clients. If you are a Realtor/broker please feel free to visit the website and contact me if you have any needs.
Many people are interested in real estate auctions, but may not know or understand the auction business and how to participate in real estate auctions. By posting definitions and examples I hope to give a better understanding of real estate auctions terms. These terms are direct definitions given by NAA (National Auctioneers Association).
An arrangement for third-party brokers to register potential bidders for properties being sold at auction for a commission paid by the owner of the property or the auction firm.