Real Estate Forums

Missouri Real Estate Pro · 09-29-2006, 01:32 PM

I've been hearing a lot of buzz about real estate auctions. I was wondering if any of you have tried this and if you have I was curious to know if you thought it was a successful method in selling real estate.

San Diego Real Estate · 09-29-2006, 05:31 PM

I too would like to hear the thoughts of anyone experienced with Auctions!

Missouri Real Estate Pro · 10-08-2006, 08:03 AM

I was reading an article that said that you only benefit from an auction if the

property is over $2million. Because properties worth this kind of money

usually sit on the market awhile, the article said that the broker should round

up a few choice buyers and have an auction. Much more exciting and

financially beneficial.

San Jose Real Estate Marketman · 10-13-2006, 07:53 PM

Back in the late 70's there was a company. I.E. real estate office who was doing auctions. You can figure the auction process out. But they had a list of homes in a price range with sellers willing to start at their lowest price. Then the company would run classifed ads about the house auctions. OH the people went crazy. Its an old idea but it would fit in great at this time. Its a great way to get new buyers thats for sure. Anyone want to brain storm on this? The biggest pull to homes for buyers are. 1, Forclosures

2, bank sales,

repo property, distress sales and auctions. I wonder which title would make a phone ring.

Anyone want to quess. If you was a buyer what would you pick and which order would you put these? Oh I forgot one Probate sales wooooo. deal or no deal?

Las Vegas Real Estate · 10-17-2006, 06:55 PM

Yeah, they are not too common here in the Las Vegas real estate market, but I love hearing input from others! The more knowledge I intake, the better off my business will be in the long run!

Las Vegas Real Estate · 10-18-2006, 06:53 PM

I am with you Las Vegas real estate, the more I can learn, the better. I have not had much experience with autions here either.... keep the responses coming!

Bama-Homer · 10-19-2006, 10:27 AM

Funny, that I notice this today, because on my way to a closing, I saw a Hummer painted with the name of an aution company. First time I had seen that here in town.

Slogan on the car.

"I can sell more houses, faster than any agent, GUARANTEED!"

It's a pretty good hook. Look at all the "Flip this House" programs on TV. People see the guys/gals on TV buying properties at auction...

Would it be wrong to hold an auction on your own listings?

Start the bidding at $150K for my $158K listing???

It could be a great way to get exposure of your listings. Does anyone know the drawbacks?

REMAX LV · 11-15-2006, 08:12 PM

Hmm, thanks for all of the great responses. I have not had to deal with a bank owned property here in the Las Vegas real estate market until recently, and I had no idea what I was getting into. I had to ask my broker to go over the rules and procedures with me

Las Vegas Homes · 01-23-2007, 06:44 PM

I do not usually deal with auctions here in the Las Vegas home market, but they are not as common as in other states either. Foreclosures are huge right now, but not really auctions!

San Diego Real Estate · 03-16-2008, 08:01 AM

Well we are starting to see more and more of the Auction Infomercials here in San Diego!

I too am curious as to your experience to that process???

Please share your experiences of the ins and outs Real Estate Auctions...