Tom Wood's (reiauctions) Blog

Real Estate Broker/Owner - Ad Maker Tool & Real Estate Auction Systems
This month,  I've noticed that the market in my area of St. Louis is really starting to pick up, especially on bank owned & HUD owned properties.   More times than not, when I submit an offer for one of my investor buyers, I get a call from the listing agent letting me know they received multipl...
I just noticed a new trend with bank foreclosures in my St. Louis market, maybe you've noticed it in your market? When a foreclosed property first comes on the market, the listing agent puts in the agent remarks that no offers will be reviewed for the first 7 days. As you can guess, the goal is ...
This past week I was shocked by what happened with a bid my buyer made on a HUD owned home.In case you're not familiar with the HUD bid process.  There is a website where HUD registered brokers can submit "sealed bids" for their buyers.  Typically only owner occupants can bi...
As most of you know, I stay "tuned-in" to what's happening with real estate auctions across the country. One of the more interesting things taking place is the number of celebrities & professional athletes that are turning to auctions to sell their real estate.  The most recent is Country Legend...
A couple weeks ago, I shared the download link for our “Cracking the Craigslist Code” guide and the number one response from readers was “Wow, it sure takes a lot of time & effort to post ‘good’ ads on Craigslist”.Yes, it does!  The good news is, that’s also the reason the ads perform so well.  I...
As most of you know, I always have an eye on REDC ( They are the undisputed leader for real estate auctions and especially with their "online only" auctions.  I haven't found any other company that comes close to the volume of sales they do. REDC is still selling primarily bank owne...
Does Craigslist make you smile?  It makes a friend of mine, Yates, smile.Yates was asked by a client, who was a real estate agent, to help him launch a new website and get it ranked on the 1st page of Google.  Yates is very good with SEO and researching keywords, but it’s nearly impossible to get...
A couple of weeks ago, while teaching a real estate online auction class in Mankato, MN, I met a successful auctioneer from Chicago who has been in the business for over 20 years.  He does FDIC auctions of personal property as well as real estate auctions. He shared a story with me about his fir...
This past week I submitted written offers for 2 different buyers on REO properties and was told by the listing agents that they received multiple offers.  They then asked for my buyers "highest and best". When this happens, my buyers always ask if I think there are truly multiple offers or just ...
7 years ago when we created our online real estate auction system, I expected a much larger adoption by the asset managers at the banks to use the auction process to sell their REO (Real Estate Owned) properties (i.e. foreclosures). Today, several asset managers do use auction companies such as ...

Tom Wood

Ask me a question
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the graph to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase: