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The "Hybrid Home Auctions" A new Method To Sell Homes

Real Estate Broker/Owner with Tutas Towne Realty, Inc and Garden Views Realty, LLC BK607690

June 23, 2020 05:10 AM

Hi folks. It's been awhile. I haven't been on here in a couple of years but hopefully some of you still remember me from ActiveRain and also from Short Sale Superstars.

I hope everyone has been doing well and staying safe.

2020 has been a difficult year to say the least. The Corona Virus has truly changed the way real estate will be conducted in the future. Facetime showings. Video meetings. Gloves, masks and booties for showings. 3D tours. Drive through closings. All things we will need to get used to.

But....difficulties create opportunity.

I started thinking about ways to make the selling and buying process easier, safer and more transparent. I wanted to eliminate showings for my sellers and give buyer's a platform to transparently bid on properties. Hybrid Home Auctions of America was born!!

Then as fate would have it my long time friend Fernando Herboso reached out to me from one of my auction posts on Facebook and we started brainstorming about how to utilize this program and how to make it available to other agents.

The two of us are currently in research and development and are designing a complete Hybrid Home Auction system that wil include everything to bring this lead generation machine to your business.

We are extremely excited about this and wanted to give you the opportunity to pre-register to be one of the first to receive the complete info on this system when we launch over the summer. Who knows? There may be an incentive for the first 25 folks who show an interest.

You can register and learn more here Hybrid Home Auctions of America

A few words from Fernando........

Hi Bryant,

In terms of real estate marketing ideas for my business, it's important to have a diverse set of tools in order to provide value to all my sellers.

This is why I feel that selling a home with the "Hybrid Home Auctions Method" opens many doors for my own listing services.

In my opinion, Sellers are not looking to hire the most famous agent in their area...they are looking to hire the best marketer of homes in their area.

Just the fact that I can say to them...

"Would selling your home and allowing the buyer pay all the commissions interests you? "

I don't think that there is a stronger script to get attention for seller out there.....specially from FSBO's!

I've met many FSBO's looking to sell their home on their own...not because they want to, its because they need to. They have limited funds at closing to pay commissions and closing costs...with this system, they can differ the commissions to the buyers by allowing them to sell their homes for a lower price.

Bryant, I feel very fortunate to cross paths with you, there are many ways to sell a home...this is like a bridge for more opportunities for my brokerage as a listing agent.

Thank you,

Fernando Herboso

https://maxusauction.com/

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Barbara Todaro

RE/MAX Executive Realty - Happily Retired - Franklin, MA

Previously Affiliated with The Todaro Team

Good morning, Bryant Tutas (Broker Bryant).... it's nice to see you here and you look marvelous!!! really healthy and always handsome....

and wishing you well with your new concept.... I'm retired from all of that but I'll be watching as you blaze a trail....

Jun 23, 2020 05:22 AM

Barbara Todaro

WOW!! Retired. I am so jealous! As you know us old folks have it going on!! Your transformation has been amazing. And I know how much discipline and hard works it was. You da bomb!

And thanks for the kind words.

Jun 23, 2020 05:29 AM

Nick Vandekar, 610-203-4543

Long & Foster Real Estate Inc 610-225-7400 - Devon, PA

Selling the Main Line & Chester County

Bryant, always loved reading your poists when i first started here on AR. As Barbara says you look healthy and well. Interesting concept, now hopefully the banks will also allow those commissions to be rolled into the mortgages.

Jun 23, 2020 06:37 AM

Nick Vandekar, 610-203-4543

Thanks Nick! The lenders won't care as long as the home appraises. Once the winning bid is accepted we just add the buyer's premium to the purchase price and proceed just as a regular transaction. The commission would still on the seller side of the HUD.

The advantage of the auction is on the marketting. Backing the commisison out of the list price allows us to market at a lower price than the other similar homes. That's what creates the feeding frenzy and urgency.

Jun 24, 2020 04:57 AM

Fernando Herboso - Associate Broker MD, & VA

Maxus Realty Group of Samson Properties - Clarksburg, MD

301-246-0001 Serving Maryland, DC and Northern VA

Bryant, I feel very fortunate to cross paths with you once again and I know that I'm learning a lot from you while preparing & building the systems... It's been a while since I don't come to the AR family... I certainly miss many of my friends, specially Barbara Todaro, whom I have a lot of respect and admiration for... It just happens that she has already visited this post! -- A lot of good things coming my friend and I'm looking forward working with you.

Jun 23, 2020 06:57 AM

Carol Williams

Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA

Retired Agent / Broker / Prop. Mgr, Wenatchee, WA

Hi Bryant,
I remember you, although you may not remember me. Glad to see you back. I hope it's on a more regular basis now.

Jun 23, 2020 08:58 AM

Carol Williams

Good to see you have retired. Must be nice!!!

Jun 24, 2020 04:54 AM

Kathy Streib

Cypress, TX

Home Stager/Redesign

Hi Bryant- And I too have to say it's good to see you and to see Fernando Herboso - Broker for Maxus Realty Group It's an interesting concept and I want to stay tuned to see where it goes!!!!

Jun 23, 2020 06:04 PM

Kathy Streib

Thanks Kathy. It has been a long time.

Jun 24, 2020 04:54 AM

Kathy Streib

Cypress, TX

Home Stager/Redesign

Jun 27, 2020 06:18 PM

Kathy Streib

Thanks for the link love!!

Jun 29, 2020 06:29 AM

Brian England

Ambrose Realty Management LLC - Gilbert, AZ

MBA, GRI, REALTOR® Real Estate in East Valley AZ

I am glad Kathy Streib highlighted your post or I would not likely have seen it. I am a bit confused by the concept since if I were a buyer I would want to physically see a property before I made an offer to purchase it. I am following you now though, so I will learn more about it from your posts. Perhaps I am missing something.

Jun 28, 2020 07:24 AM

Brian England

Hi Brian. Th ebeauty of the Hybrid auction is that he buyer does get to see the porperty before bidding. We hold 2 open houses the weekend before the auction. Plus if they are the winning bidders they do have the right to inspect and cancel. It's just a regular transaction. The only difference is the way it's marketed and the way buyer's make offers.

Jun 29, 2020 06:24 AM

Sharon Tara

Sharon Tara Transformations - Portsmouth, NH

Retired New Hampshire Home Stager

Very interesting. I look forward to hearing more about your new adventure.

Jun 28, 2020 08:14 AM

Sharon Tara

Thanks!! Stay tuned. And of course let me know if you have questions.

Jun 29, 2020 06:29 AM

Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets

Big Block Realty 858.232.8722 - La Jolla, CA

CEO of Vision Drive Realty - Coastal San Diego

Welcome back, I do not remember you but welcome back! Good luck with your new venture.

We started showing homes via Zoom in April and went back to live showings in May, so fortunately we do not need to worry about alternatives. Auctions of course are old as the industry and several companies here in San Diego tried to use the fake auction model unsuccessfully, I was head-hunted by one and even as they sat and divulged the secrets of it I couldn't see it as a sustainable business; apparently I was right as they've almost all closed down here now.

The buyer does ultimately pay for the commissions in a seller's market, since homes are selling up to 7% over market value these days and most want to walk the property prior to purchasing, shy military and investors.

Jun 28, 2020 11:16 AM

Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets

Yes auctions have been around for ever mostly because they work.. We are just trying to take the fear out the process by treating it more like a regular transaction. Everything is 100% transparent. I promiss it is not a fake auction or is is fake news :)

Jun 29, 2020 06:28 AM

Anna "Banana" Kruchten

HomeSmart Real Estate - Phoenix, AZ

602-380-4886

Hey Bryant Tutas I don't know how anybody could forget you!!! You're just so darn funny and fun! Congrats on you and Fernando teaming up on this new concept. Interesting. We've gone in a new direction as well so it's not a fit for us BUT I'm still interested in what you develop. Have a great rest of the summer and come on back soon!

Jun 28, 2020 02:35 PM

Anna "Banana" Kruchten

Thanks Anna!!

Jun 29, 2020 06:26 AM

Mike McCann - Nebraska Farm Land Broker

Mike McCann - Broker, Mach1 Realty Farmland Broker-Auctioneer Serving Rural Nebraska - Kearney, NE

Farm Land For Sale 308-627-3700 or 800-241-3940

Hi Bryant Tutas I do think this can work in certain markets.

It has been tried around here by others but I have not jumped on the boat.

Of course...there are always two sides to everything (or more).

I wish you luck and will keep an eye out.

My company does do auctions, however we have not done any on a home...only farm land. Logic would say if it works on farm land it should work on a home. And yet I have not seen that here.

Our job is to get the highest amount for the seller client...and I have yet to see a home in our area sell for the amount at auction that I could have gotten at private treaty. I believe it is because buyers are not yet willing to embrace the process. In fact I have seen some auction homes be turned right around and re-sold by the buyers in some cases.

Intriguing for sure!!

In a larger population than ours I can see it working however.

Jun 29, 2020 07:51 AM

Mike McCann - Nebraska Farm Land Broker

The key is to educate the consumers on the process. We are just getting started with this so I know there will be a learning curve. Setting the right Minimum Bid price is going to be crucial. An auction will not overcome an over priced listing.

The auction may not be for every property but it does help us get in front of sellers to figure out what will work best for them.

Hopefully my vision will materialize!!

Jul 01, 2020 05:23 AM

Grant Schneider

Performance Development Strategies - Armonk, NY

Your Coach Helping You Create Successful Outcomes

Hi Bryant Tutas - this is a very interesting idea. Not sure I understand it year. I am following you now.

Jun 29, 2020 09:59 AM

Grant Schneider

I'm all about doing things differently. We have to have something that separates us form the pack. Thus far this seems ot be the ticket!

Jul 01, 2020 05:24 AM

Ray Henson

eXp Realty of California, Inc. (lic. #01878277) - Elk Grove, CA

Realtor

Hi Bryant, I just was certified for an auction site that sounds like what you describe. I was going to use it on my last listing, but it sold too quickly. Next time! I am looking forward to seeing more blogs regarding your Hybrid Home Auctions.

Jun 29, 2020 12:12 PM

Ray Henson

I have an auction site through an EXP broker. May be the same one you signed up for. We are creating our own now because the features were limited. Definitely give the auction a try when you can. The open houses alone will give you tons of business. I wish you luck. Feel free to reach out of you ever want to brainstorm.

Jul 01, 2020 05:27 AM

Doug Dawes

Keller Williams Evolution - 447 Boston Street Topsfield, MA - Georgetown, MA

Your Personal Realtor®

Welcome back to Active Rain Bryant Tutas

"But....difficulties create opportunity"

I look forward to looking at your idea for Hybrid Home Auctions

Jun 30, 2020 12:20 PM