Our area is beginning to see more and more Auctions. It is a great thing for the Auctioneers/Agents, they receive top commissions and get paid for their advertising whether it sells or not. This past weekend we had a huge development use Auctions to sell property, not because they needed too, but because they wanted to jump start the market. They sold 24 Condos and homes. The weekend before a family sold their mothers waterfront estate, which they divided into big lakefront tracts. They sold all of them to the total of 3.2 million. Do Auctions hurt the regular selling agent? Do Auctions make Buyers wait for better buys? Do Auctions stimulate the market or cause prices to drop more? Will Sellers decide that Auctions are a successful way to sell and trade traditional marketing methods for Auctioning off their properties?
Waves Realty - Melbourne, FL
Florida Space Coast Homes
I do not feel Auctions are a good development. It is very easy to make a mistake on a home...people get caught up in the auction process.
Apr 14, 2008 07:37 AM
Adcock & Associates Real Estate & Auction - Sanford, NC
All the auctions I have ever been involved in have been successful! That's why I went in November & I now have my auctioneers license & am also a broker. If the business is done right, all information is on the constructive notice board (HOA, Tax records, disclosures, lead base, plats, etc). The client also has ample time prior to the auction to inspect the house & property & to ask any questions they deem necessary. It is the wave of the future & there is money to be made by everyone. I myself do co-broke with other agents along with paying referrals.
Lisa
Apr 14, 2008 01:00 PM
Charlottesville Solutions - Charlottesville, VA
I actually think it helps to purge (if I can use that word) some of the inventory.
Your Friend in Charlottesville!
Apr 15, 2008 12:24 AM
Comments(3)