I'm an auctioneer that usually talks sellers out of Auction!

By
Real Estate Agent with Better Homes and Gardens Real Estate Metro Brokers

Auction AssociatesYes Indeed. Sounds strange, but it's true.It isn't that I don't believe in auction as an aggressive and wonderful marketing tool for selling real estate, it's just that the market has changed and there are many reasons that auction won't work today.

The number one reason is competition from bank foreclosures and other REO properties. They offer great terms, and bargain prices. Unfortunately. most sellers look at auction as a last resort, and wait until the property is stale before putting it on the auction block!

Auctions are expensive and time consuming, and we are not in the business to lose money. Here's the key principle:

If a property won't sell for any reason. those reasons will not be overcome by auctioning the property! Auction isn't for properties that won't sell, it's for properties that everyone WANTS!

So if it's a house that has been sitting for six months, I won't touch it, unless you are VERT WILLING TO TAKE A LOW-BALL PRICE!

But any auctioneer will be glad to discuss auction with you, and it may be a viable option. We are always willing to "talk turkey" with sellers about the auction process! 

Richard Weisser, Broker, Associate Broker, Auctioneer, E-Pro, CE Instructor
Era United Realty, Newnan Georgia, Coweta Fayette Real Estate, Inc.
Serving Coweta, Fayette, Heard, Meriwether, South Fulton, Pike and Spalding Counties
770-827-6225, 770-683-8400 X364, 770-683-8401 (FAX)
All content, including text, original art, photographs and images, is the exclusive property of Coweta Fayette Real Estate, Inc., and may not be used without the expressed written permission of Coweta Fayette Real Estate, Inc.  Copyright 2003-2008.

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Comments 15 New Comment

Anonymous
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Ambassador
1,622,216
Richard Weisser
Richard Weisser Coweta Newnan Homes for Sale
Better Homes and Gardens Real Estate Metro Brokers

April...

Well thank you ... the link was indeed not working! I have corrected that now! I got into auction by accident! We started a company, hired an auctioneer, fired him, we were stuck without an auctioneer and I volunteered to go to school and get my auctioneer's license! I'll write all about it in a blog later today or tomorrow!

March 19, 2008 02:52 PM
Rainmaker
84,303
Edward Wadsworth
Free list of Bank Owned Homes
Better Homes Garden Real Estate Metro Brokers
Richard, i agree in todays market people who are attending autions are bottom fishing and are a waste of time in most cases.
March 22, 2008 06:13 PM
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1,622,216
Richard Weisser
Richard Weisser Coweta Newnan Homes for Sale
Better Homes and Gardens Real Estate Metro Brokers

Edward...

Yes, we are seeing a lot a people seeking to get something for nothing! It's frustrating all right, but it's a part of where we are at in the market!

March 22, 2008 08:19 PM
Rainmaker
486,913
Lorraine or Loretta Kratz
Certified Negotiation Consultants
Crescent Moon Realty, Inc. & Land N Sea Auctions.

Richard:

Here in California, the auctions that come in do well. They are all bank driven. I think that auctions are very viable, if the seller is motivated.

March 23, 2008 05:48 PM
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Richard Weisser
Richard Weisser Coweta Newnan Homes for Sale
Better Homes and Gardens Real Estate Metro Brokers

L&L,

Right you are! If the seller can take the hit, and put out enough properties to get enough interest, it works! I am speaking here of non-institutional sellers who are unwilling to suffer possible losses. Thanks for your comments.

March 23, 2008 06:20 PM
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Richard Weisser

Richard Weisser Coweta Newnan Homes for Sale
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Additional Information

Author Bio: Richard Weisser is a Georgia real estate broker, licensed auctioneer, and has been writing about Georgia Real Estate since 1999.

Coweta Fayette Real Estate offers opinions and helpful information to consumers and real estate professionals in the Coweta County Georgia area.

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