Property Auction Blog

Seems like realtors are trying more and more to get in on the auction fun these days. Many realtors are partnering with auction companies to get their client’s properties sold with the time-defined auction method.

Some realtors are holding on to properties for 6-12 months these days with no end in site. The question is: What is best for the client’s objectives? We know some realtors will take that exclusive listing to the grave but this practice is often not in the client’s best interest.

Rowell Auctions out of Georgia is conducting a multi-property auction sale “in cooperation” with two realtors, ERA and Prudential. Last month’s realtor magazine had a column about the subject as well, getting the message out there (from Steve Good) that auctioneers are not your competition, they are your friend.

So it seems to be that partnering with an auction company to get that listing sold is a pretty good idea. We are hearing that owners are actually contacting auction companies to have them talk to their exclusive broker about partnering on the sale. Word of advice to brokers: call an auction company before your seller does! Look for several more auction sales like this in the next few quarters.