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Auction Industry Continues to Grow in a Declining Residential Real Estate Market October 24, 2006

Posted by AlynnROCK Group in Auction News, Real Estate News.

Although the article below originated from the National Auctioneers Association , I want to give credit to Real Estate Auction News for reporting it on their blog first! 

I just want to help get the word out to all of those Buyers, sellers, and Realtors  –  realizing that a time-defined sale is a viable and expedient way to handle the sale and purchase of real estate. 

Real Estate Auction companies are NOT “competition” for their Realtor cohorts, rather, we are working right along side each other to help expedite the sale of property.  In today’s saturated market, Realtors cannot promise their sellers how quickly their homes will sell.  But when they have sellers that don’t have time to hold on to their property, for whatever reason, then a phone call to a Real Estate Auctioneer can very often earn them a commission (and that’s money in their pocket sooner, for almost no work!) 

No wonder the Real Estate Auction industry is booming – the growth is due to in great part to mutually-beneficial working partnerships with fellow Realtors who just want to help their clients get those properties SOLD!!

Auction Industry Continues to Grow in a Declining Residential Real Estate Market

Press Release Source:

The National Auctioneers Association NAA Auction Industry

(OVERLAND PARK, Kan. Tuesday October 10, 11:41 am ET)

The National Auctioneers Association (NAA) reports continued growth for the auction industry with a 5.9 percent third-quarter increase as compared to the same point in 2005, translating into $254.4 billion total revenue projected for 2006.

The largest increase came from residential real estate auctions, which grew by 4.5 percent in the third quarter. Increasing use of the auction method of marketing to sell residential real estate has been the subject of widespread media coverage.

“These statistics show that the general public sees the value in selling their property by auction. Buyers and sellers are both turning to the auction method and we foresee this trend continuing to increase,” said NAA President William Sheridan, CAI, GPPA, AARE.

In addition, forty-four percent of auctioneers say they have seen an increase in gross sales receipts in the first three quarters of 2006 as compared to the same period last year.

Funded by the National Auctioneers Foundation, the findings were gathered by the global market research firm MORPACE International. The study is commissioned by the NAA to document the growth of the live auction industry.

With almost 6,000 members from throughout the world, the National Auctioneers Association is the largest organization of its kind dedicated to promoting the auction method and competitive bidding industry. Member benefits range from federal and state legislative tracking to comprehensive continuing education programs, including coursework to earn the following professional auctioneer designations: Certified Auctioneers Institute (CAI), Accredited Auctioneer, Real Estate (AARE), Graduate, Personal Property Appraiser (GPPA) and Certified Estate Specialist (CES).

The organization was founded in 1949 and is headquartered in Overland Park, Kan.

For more information on the NAA and its programs, log on to http://www.auctioneers.org/.

Contact: The National Auctioneers Association
Erica R. Brown, Public Affairs Manager
913-541-8084 ext. 31
Source: The National Auctioneers Association


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