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Real Estate Auctions – up 12.5% in 2006! January 23, 2007

Posted by AlynnROCK Group in Auction News, Real Estate News.
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shelby-cobra.jpgAs reported today in the Kansas City Star, home of the National Auctioneers Association in Overland Park, Kansas, here are the latest statistics on overall growth of the Auction Industry: 

“Paced by substantial growth in sales of residential real estate, the auction industry grew by 7 percent in 2006, according to the National Auctioneers Association of Overland Park.

Overall, revenue for the industry grew 7.1 percent to $257.2 billion. Residential real estate auctions, the fastest-growing segment of the industry, grew 12.5 percent in 2006 to $17.2 billion. Charity auctions grew by 6.6 percent to $16.1 billion.

“These statistics show the auction industry has seen a progressive increase in the number of auctions and dollars generated in 2006 over previous years. Buyers and sellers are increasingly seeing the advantages the auction method brings to the sale and we are excited to be a part of this shift in public perception,” William Sheridan, the association’s president, said in a news release.

The industry survey was funded by the National Auctioneers Foundation. Information was gathered by the global market research firm MORPACE International.”

As a highlight that just validates this report, check out the story in the Detroit Free Press about the Shelby Cobra that sold at auction yesterday for $5.5 Million! 

NARdi Gras buzzword…”AUCTIONS” January 9, 2007

Posted by AlynnROCK Group in Auction News, Real Estate News.
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gavel-money.jpgSo, are real estate auctions really a valid, viable way to sell property?  Let’s see what the NAR has to say about it. 

This year, the National Association of Realtors appointed Bill Sheridan, CAI, AARE, GPPA (the president of the National Auctioneers Association) to the Board of Directors of the NAR.  At the 2006 NARdi Gras Convention, Mr. Sheridan held a seminar called the Auction Forum to a standing room only crowd of Realtors who wanted to know more about the auction process….many of whom were beyond excited to learn that Real Estate Auction companies are not their competition, but rather a resource that Realtors can utilize to meet the needs of their clients. 

The response that the Auctioneers received at the NAR Convention was overwhelmingly positive – due in large part simply to education (most Accredited Auctioneers of Real Estate are also licensed Realtors) about the auction process and the emphasis on creating networks and partnerships with one another.  It’s a beautiful thing to see a Realtor’s eyes light up when they realize that they can partner with a qualified Real Estate Auctioneer, let the Auctioneer handle the marketing, the sale & the paperwork, and get a check in the mail about 60 days down the road (all the while they know they’ve taken care of their client and are free to continue selling their other listings).

 Just to highlight this tightening alliance, the NAR Daily Paper featured an article entitled “Auctions No Longer a Last Resort” which begins with “Imagine getting a listing and, with a little bit of legwork, having it under contract within nine to 12 minutes.”  ….  and ends with “Auctions can get your listing sold and make your clients happy!” 

Way to go NAR and NAA!  Let’s keep working together, focusing on the needs of our clients, to get these properties SOLD!