Jeff Pearl, Full Service Full Time Realtor (RE/MAX Distinctive / LIC in VA)

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Rainmaker
768,871
Doug Dawes
Keller Williams Realty - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

I've not worked the auction end of the business. Have been to many auctions but not with clients

Aug 22, 2019 07:25 AM
Ambassador
3,315,014
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

If it's water damage, there's something underlying, like mold, or it wouldn't be an auction house!

#RunForrestRun

Aug 21, 2019 08:02 PM
Rainmaker
2,791,010
Kathleen Daniels
KD Realty - 408.972.1822 - San Jose, CA
San Jose Homes for Sale-Probate & Trust Specialist

Auctions are just not my thing.  More than the price it is all the unknowns and "disclosures" that are not disclosed. 

Aug 21, 2019 06:13 PM
Ambassador
4,215,450
Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams Fox Cities - Stevens Point, WI
Forestland Experts! 715-204-9671

I find most people underestimate the cost of rehabbing properties.

Aug 21, 2019 05:52 PM
Rainmaker
1,605,953
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co. Notary Services, retired Realtor

Recognizing a good flip can make one a lot of money Jeff Pearl .

Aug 21, 2019 05:37 PM
Rainmaker
2,455,334
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

I was doing a short-sale one day and I got a call from a flipper. He worked strictly by formula and kept running his math as I held the phone. He would not change the math to make the deal but realized his risk went up instead if he was to do so. Sorry he says...its not worth the risk (based on worst case)

Aug 21, 2019 02:41 PM
Rainmaker
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Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
Marketing Agent for The Todaro Team

never worked with a buyer at an auction..... 

Aug 21, 2019 02:17 PM
Rainmaker
3,276,225
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Worked with a buyer at an auction, but never made a bid on a property being sold absolute. Attended one once and the first unit went for big numbers and then the auction descended and some units could not produce a bid at $10,000!

Aug 22, 2019 05:09 AM
Rainmaker
3,015,876
Richard Weeks
Dallas, TX
REALTOR®, Broker

Another one I have never heard of.

Aug 22, 2019 04:43 AM
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Raymond E. Camp
Howard Hanna Real Estate Services - Ontario, NY
Licensed Real Estate Salesperson Greater Rochester

It seems here that a property that is in need of rehabbing has a starting price that is set for a home that is in tip-top condition! Once they have lowered the price it becomes an auction type as the listing agent calls and says we have multiple offers and need your biggest and best!

The selling price after it has been rehabbed is high and do not want to be around for another "08!

Aug 22, 2019 04:25 AM
Rainmaker
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Kevin J. May
Florida Supreme Realty - Hobe Sound, FL
Serving the Treasure & Paradise Coasts of Florida

Overbidding? That's the real crux of an auction. I've been to several as Buyer, agent and observer and now limit myself to absolute auctions where the bidder must be present, no phone or internet bids please.

Aug 22, 2019 12:24 AM
Rainmaker
1,553,713
Evelina Tsigelnitskaya
SIB Realty - Sunny Isles Beach, FL
www.SIBRealty.org 305-931-6931

No, I did not work with Absolute Auctions. 

Aug 21, 2019 07:33 PM
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3,988,042
Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

Have never worked with a buyer or a seller in an auction.

Aug 21, 2019 05:39 PM
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Roy Kelley
Realty Group Referrals - Gaithersburg, MD

I have participated in many auctions.

Aug 21, 2019 05:22 PM
Rainmaker
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Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg IL Real Estate

Never heard of them. Always shy of water damage.

Aug 21, 2019 04:29 PM
Rainmaker
548,188
Peter Testa
Nationwide Homes - Danbury, CT
PETER TESTA

The Investors I have put in bids for back off when the price climbs too high. 

Aug 21, 2019 03:26 PM
Rainmaker
1,238,801
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

My second office is at the courthouse steps for auctions with my investors.  Many fun stories there...

Aug 21, 2019 03:11 PM
Rainmaker
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Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Can't say I've ever worked with any auction houses, Jeff... not quite my wheel house.

Aug 21, 2019 02:21 PM
Rainmaker
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Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Thank you for the heads up.  A

Aug 21, 2019 02:18 PM
Rainmaker
1,014,667
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

This online auction company ordered a rpt asking why their $846K lower than sold comps. My value is too high. 

I replied 5% hammer fee, $500 tech fee, 0.5% commission to buyer agent, the buyers need to evict owners out after coe that will take another 4-6 months. 

 

Aug 22, 2019 07:03 AM
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55,737
Kris Collis, Associate Broker
Smart Way America Realty - East Stroudsburg, PA
Professional Results you Expect 570-507-7510

Jeff, do your investors typically work with an attorney in advance for full property info - title, taxes, etc.?

Aug 21, 2019 09:14 PM
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2,998,792
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of Manchester NH's Leading Agents

I work the auction circuit both for me buying and my investors. Lets take this weeks lesson, a house needing a 100 k work. I am high bidder at 140k, going once, going twice and someone bids 210k. Wait why didnt they bid 145k? They over paid by a good 60k, they need to learn how auctions work

Aug 23, 2019 05:25 AM
Ambassador
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Wanda Kubat-Nerdin - Wanda Can!
Prado Real Estate South - St. George, UT
So Utah Residential, Referral & Relocation REALTOR

Never have worked with a buyer wanting to bid in an auction. My advice is to find a number and stay with it to avoid getting emotionally involved and overpaying. The acreage is very nice on this one Jeff Pearl!

Aug 22, 2019 02:25 PM
Rainmaker
4,082,190
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

I have not heard of them.

Sep 12, 2019 11:17 AM
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Valeria Mola
SIB Realty - Miami, Sunny Isles Beach - Sunny Isles Beach, FL
305-607-0709 SIB Realty

No, never.

Aug 26, 2019 08:10 PM
Rainmaker
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Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Wow,  sounds like something to look into.

Aug 24, 2019 08:45 AM
Rainmaker
679,849
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

This is a case of a seller using the auction method of selling in order to ramp up buyer interest instead of putting the house on the mls. All due diligence still needs to be taken in making an offer.

Aug 23, 2019 07:06 AM
Rainmaker
1,543,140
Sandy Padula and Norm Padula, JD, GRI
HomeSmart Realty West & Geneva Financial, Llc. - Carlsbad, CA
Presence, Persistence & Perseverance

Never have. That buyers premium is ridiculous!

Aug 23, 2019 06:42 AM