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Are Realtors scared of Auctions?

By
Services for Real Estate Pros with TRAC Auctions, BJM Investments

I have to ask myself why aren't more real estate agents thinking outside the box in this down market.  Its been almost 18 months, in my view, we've been going down in price and volume.  It seems Agents are going back to their old jobs, bartending, car sales, etc but they are still holding onto the old mind set that was prominent in the early part of this decade.  Are you adapting the way you should or will you try to fight your way through this market?  Can you make it thinking the same way you always did?

As an owner of an aggressive and progressive auction company in Maryland that sells non foreclosure type real property, we take great concern to evaluate our clients, their needs, financial position and many other factors before we agree to help sell their property at auction.  We only try to sell those properties we feel are sufficiently priced right and the ownersa expectations are in line with their situation. 

Our overall philosphy is to work WITH real estate agents and not in competition with them to help sell their long listed, hard to sell, short sale  and other properties either they can not sell or have not been moving and would rather dedicate their time to something that IS actually making them money and not sapping their time and energy.  We are actually still paying you the same commission split you already negotiated based on the high bid amount.    Multiply yourself and free up the time and energy for those more pressing urgent matters!

On the Buyer side, I send out hundreds of emails and faxes to Agent offices and email accounts, We offer 2%, 2.5%, sometimes even 3% broker co-op fees to agents to simply bring a buyer to bid and we pay that Agent!  Can money be any eaiser to make?  I simply do not get that MOST agents either can not find a buyer to bring to the sale, dont want to spend their time bringing a Buyer to the sale or simply dont care.  The same complaints many Agents have about Buyers not making offers, seems to transfer to Agents and their Buyer clients.  If the house has a remote interest to the Buyer.......BRING THEM.  Auctions are the only situation in which you can name your own price and feel relatively confident it may be accepted.  JUST MAKE THE OFFER!!!!!   You never know what can happen.

Isn't the general premise about auctions that Sellers are motivated??  Doesn't everyone THINK that Auction Sellers are in foreclosure or distress in some way?  If so, why are you not bringing your Buyers to sales?  Isn't that what your Buyers are looking for?  Good deals? Possible equity situations?   

TRAC Auctions is THE ONLY auction company that is willing to partner with Agents the way we do.  We want to be an additional tool in your real estate toolbox.  But ...like any other tools in a toolbox, it needs to be actually utilized! 

Contact me to discuss this topic further or to enlighten me as to why Agents do not want o utilize auctions to sell to their clients or help sell their clients long listed troubled properties. 

See ya at the settlement table.

Lorrie Semler, REALTOR® in the Dallas area. Call/text 972-416-3417
HomeSmart Stars - Addison, TX
Real Service. Real Results. Real Estate

Brandon, like real estate and weather, auctions are a local thing.  In this part of the country, any onsite auction (personal property or real property) is perceived as a fire sale.  There are two auction houses for antiques that do well, but they have the items brought to their galleries.  One large, national auction company has started holding real estate auctions at a downtown hotel, but they sell only foreclosed properties.

Jun 16, 2008 12:55 AM