It's interesting to hear from folks who are in the real estate business say things like, "Wow, your an auctioneer, I bet business is just booming" or "I bet your business is really picking up the way the market is right now" and I have to remind them even though they are selling real estate the traditional way, Auctioneers are just using another way of selling and marketing the exact same thing. In most cases we are another tool for Real Estate Agents to have in there arsenal.
Auctioneers are no diffrent from the traditional Realtor in regards to trying to find our niche in this slower economy. We are still having successful sales but no where near the numbers we have had in the past.
With our aggressive marketing we will spend a few thousand dollars in a matter of weeks, whereas it would be all to risky for a affiliate or agent to spend that much. We bring buyers to the seller and submit multiple offers in one day rather than weeks or months.
At Auction sale prices are actually still holding around the same price. The key for auctioneers to successfully market and sell property is to get it before it ever goes to the MLS. Once a property has a price attached to it, its next to impossible to reach or achieve more than that price. Imagine going onto a car lot and seeing car you like and reading on the window its $45,000, I dont know of anyone who would offer $50,000 right off the start, its natural for people to want to get things and get a good deal. At an auction the price is determined by fair market price, which is driven by the buyers who attend the sale. They set whatever price they are willing to give, with terms we set forward.
The numbers i have show that when we sell a property thats been listed we have a 60% chance of getting that property sold. Compared to a 90+% for property that has never been listed.
We work with realtors, agents and brokers all the time with property they refer to us, Its imperative they bring us in on the front in so we can work our magic. It's almost impossible to exceed expectations once property has been listed for months.
Auctions are no longer a last resort, they are seen for their value and immediate effectiveness.