Real Estate Auction trends Before MLS

By
Services for Real Estate Pros with James R. Cash II Auctions & Real Estate TN RE Broker 310998

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.

 

Comments (8)

The Trumm Team Omaha Homes for Sale, Real Estate
Keller Williams Greater Omaha - Omaha, NE

Welcome to ActiveRain!

If you would like a few tips on getting the most out of ActiveRain, please visit my blog Welcome to Active Rain.  It has a few simple steps of what to do now that you have joined.

If you ever have any questions, just let me know.

Troy Trumm

Sep 18, 2008 12:22 AM
Beatrice Cooper,
Finacial Destination - Cape Coral, FL

Welcome to Activerain,

You will have alot of information in hand.  Take full advatage of the site.  Great folks here.

Enjoy

Sep 18, 2008 02:48 AM
Lori Isaacson
Credit Restoration Consultants - Plantation, FL

Hi Jay,

On behalf of Credit Restoration Consultants and the over 109,700 members of Active Rain I want to welcome you to the AR family. Please feel free to call or e-mail me with any questions you have regarding credit repair, credit scores or any credit related issue including identity theft. Have a great time on AR and keep on blogging.

Regards,

Lori Isaacson

Sep 18, 2008 04:03 AM
Greg Steffens
Mountain Country Realty - Lake Arrowhead, CA

Hi Jay - Welcome to Active Rain and congrats on your first post.  Be sure to spend some time looking around at what and how others are blogging here.  It is a great education and lots of fun.  Looks like you're off to a great start...keep it up!

Sep 18, 2008 06:13 AM
Jese Gonzalez
The Real Estate Power Houses - El Paso, TX
The Real Estate Matchmaker

I would like to personally welcome you to the ActiveRain community!  This community has a wonderful atmosphere and you will find lots of helpful friendly people and useful information. I often find something new and interesting when I read the new blogs.   

Active Rain is an excellent networking forum with a variety of interesting characters.  Expect to learn a lot and be entertained if you have an open mind.  The opportunities to learn, earn and network are absolutely incredible here on Activerain.   

 Welcome to the RAIN I look forward to reading your blogs.

Sep 18, 2008 11:31 AM
Susan McQuaide
Keller Williams - Simpsonville, SC

Welcome to Active Rain! I hope you find this site as informational and entertaining as I have!

Sep 18, 2008 01:03 PM
Scott Magaw
The Bill Kennedy Team - Keller Williams Realty - Spartanburg, SC

Welcome to active rain! By joining our community, you have made a great choice, and a very profitable choice. This is a great site for learning as well as sharing. Check out some blogs, join some groups, and enjoy! -- Scott

Sep 18, 2008 02:23 PM
Keith Elliott Jr
KEIRE Realty Group - Manassas, VA
Principal Broker/Owner

Hello Jay,

Welcome to Active Rain and congrats on your first post! The opportunities to learn and network are incredible here. Best of luck to you!

-Keith

Sep 19, 2008 01:04 PM