Live auction industry exceeds $270 billion in 2007 – Residential real estate auction revenue increase 5.3% despite housing market downturn January 30, 2008
Posted by AlynnROCK Group in Auction FAQ, Auction News, home auction, real estate auction, Real Estate News.Tags: Auction MLS, Auction Network, Auctions, MLS, NAA, National Auctioneers Association, real estate auctions
add a comment
Live auction industry exceeds $270 billion in 2007
Residential real estate auction revenue increase 5.3% despite housing market downturn
Overland Park, KS – In 2007 the gross revenue from goods and services sold at live auction grew 5.3% to $270.7 billion. In 2006, the auction industry sold $257.2 billion in goods and services at auction, an increase of 7.1% from 2005. The annual report was compiled by Morpace, Inc. on behalf of the National Auctioneers Association (NAA) which surveys auction professionals to determine the state of the industry, as well as track key auction specialties within the industry.
While traditional real estate professionals continue to face the challenges of a housing market downturn, the real estate auction market continues to be one of the fastest growing auction sectors generating $58.4 billion in 2007. Within the real estate segment (i.e. residential, land/agricultural, commercial/industrial), residential real estate auctions witnessed the largest growth, increasing 5.3% from 2006. Accounting for 32% of the total live auction industry, automobile auctions continue to be the largest sector of the industry generating $87.8 billion in sales. Charity auction revenue grew from $15.6 billion in 2006, to $16.2 billion in 2007, an increase of 4.1%. The overall number of live auctions conducted in 2007 increased by 4.6%.
“The live auction industry continues to grow at an amazing pace,” said NAA president Tommy Williams, CAI. “More and more consumers are realizing the benefits of buying and selling at live auction. Consumers are now buying or selling their homes, purchasing art and antiques, or raising capital for charitable causes through auctions.”
To assist consumers interested in real estate auctions, the NAA launched the first real estate auction multiple listing service (MLS) in 2007. Prospective bidders from across the world can access http://www.auctionmls.com/ to view upcoming real estate auctions ranging from residential, to farm/agricultural real estate. In addition to launching the first auction MLS, the NAA partnered with the Auction Network to develop the first 24/7 multi-media network devoted to the auction industry. Everyone from the enthusiast to the casual bidder can participate real-time in a wide variety of auctions taking place worldwide by visiting http://www.auctionnetwork.com/.
# # #
** Article taken from the National Auctioneers Association 1/23/08 News Release **
About the NAA
Headquartered in Overland Park, Kansas, the National Auctioneers Association (NAA) represents the interests of approximately 6,000 auctioneers in the United States, Canada and across the world. Founded in 1949, the mission of the NAA is to promote the auction method of marketing and enhancing the professionalism of its members through education and technology. In 2007, the auction industry grew by 5.3% with over $270 billion in goods and services sold. To learn more about Auctioneers, auctions and the NAA visit: www.auctioneers.org.
National Public Radio (NPR) Highlights 2007 IAC Champions Denise Shearin & Bryan Knox January 28, 2008
Posted by AlynnROCK Group in 1, Auction FAQ, Auction News, real estate auction.Tags: auction, auctioneer, Bryan Knox, Denise Shearin, NAA, NPR, Showcase of Champions
add a comment
NPR listeners across the country were offered an inside look into the world of auctioneering and “bid calling” today on Michel Martin’s “Tell Me More” and Robert Sachs “What Would Rob Do?”.
“What Would Rob Do?”
with Robert Sachs and IAC Champion Bryan Knox
Auctioneering can be tough. A bid caller has to simultaneously keeping track of the bid count, look for bidders, and keeping the chant fun for those attending. Rob talks to NPR’s Paul Brown about some expert advice on running an auction from Bryan Knox the winner of the 2007 Men’s International Auctioneers Championship.
Auctioneering…What Would Rob Do to Call A Bid?
“Tell Me More”
with Michel Martin and IAC Champion Denise Shearin
It’s the familiar, but sometimes unintelligible voice standing out among all the rest: that fast-talking, number-crunching auctioneer. Denise Shearin shares tips and divulges insider info on the world of auction blocks. Shearin was recently named the International Auction Champion.
Auctioneer Gives Crash Course on Fast-Talking Style
{Thanks to the National Auctioneers Association News for this story. To learn more about the National Auctioneers Association “International Auctioneer Champions”, click here}
National Auctioneers Association Launches Real Estate Auction MLS January 18, 2008
Posted by AlynnROCK Group in Auction News, home auction, real estate auction, Real Estate News.Tags: Auction MLS, MLS, NAA, National Auctioneers Association, real estate auctions
1 comment so far
Overland Park, KS “ The National Auctioneers Association, the world’s largest professional association representing the interests of Auctioneers, recently launched a multiple listing service (MLS) designed specifically for real estate auctions. As consumer interest in auctions grows, consumers are turning to auctions to buy and sell real estate. The newly launched website, www.naarealestateauctions.com, provides consumers with up-to-date information on real estate auctions taking place in their area. Consumers can utilize the website to view residential, commercial, agricultural, and time share real estate scheduled to be sold at auction.
“The creation of the NAA Real Estate Auction MLS provides consumers with a convenient approach to researching upcoming auctions, “said NAA president Tommy Williams. “In addition to traditional marketing campaigns promoting upcoming auctions, auctioneers and their clients now have the ability to market their sale to a larger audience of prospective bidders.”
Residential real estate auction is the fastest growing segment of the auction industry. Between 2003 and 2006, gross revenue of residential real estate sold at auction has increased 39%. In 2006, over $16 billion was sold in residential real estate. In addition to residential real estate auctions, over $25 billion was sold in land/agricultural real estate and $15 billion in commercial/industrial real estate in 2006.
# # #
About the NAA
Headquartered in Overland Park, Kansas, the National Auctioneers Association (NAA) represents the interests of approximately 6,000 auctioneers in the United States, Canada and across the world. Founded in 1949, the mission of the NAA is to promote the auction method of marketing and enhancing the professionalism of its members through education and technology. In 2006, the auction industry grew by 7.1% with over $257 billion in goods and services sold. To learn more about Auctioneers, auctions and the NAA visit: www.auctioneers.org.
For Immediate Release
Contact: Chris Longly
National Auctioneers Association
(913) 541-8084 ext. 31
Article also found on Reuters
Auctioneers Use Marketing Skills & Urgency to Sell Property FAST! January 15, 2008
Posted by AlynnROCK Group in Auction FAQ, Auction News, home auction, real estate auction, Real Estate News.Tags: eBay, home auctions, NAA, National Auctioneers Association, online auctions, Proxibid, real estate auctions
add a comment
Auctioneers are trained today to be experts in marketing so they can bring exactly the right bidders to their auctions, making an effective sale with a good price for the seller in a timely fashion. In fact, a typical schedule today for an Auctioneer to sell a home or commercial property at auction is 45 days from the time a contract is signed with the seller to the day of auction. And immediately after the contract is signed, the marketing begins.
In that 45 day period, the auction company is sending targeted emails, direct mail brochures, placing newspaper advertisements, putting signage at the property and nearby locations and using other marketing techniques. All the advertising conveys a sense of urgency that the property will be sold on that upcoming auction day.
This increased effort in marketing property, above what can usually be done in a tradtional real estate listing, is often what draws bankers, attorneys, court appointed trustees and others to turn properties over to Auctioneers for a rapid and successful sale.
Potential bidders get the message that this property is not languishing in a traditional real estate listing, but is in an auction process where there is a set time for parties to preview the property, place a deposit to bid, and show up on auction day. It is this sense of urgency and structure that often moves bidders to act, instead of allowing them to delay, consider further, and delay more.
Auctioneers are learning ever-more sophisticated marketing techniques in seminars, real estate auction programs and by networking with peers who are using technology well. Auctioneers today know the real key to making an auction successful is not talking fast during the auction, but it is getting the right people at the auction and moving them to bid.
In a slow real estate market, like today’s, more sellers are turning to auctions because they have investigated this method and see it is successful. Real estate auctions are the fastest growing of all auction categories.
The general public is hearing more about the auction method today because of eBay and other online auctions, and the average person is more willing to try selling any property at auction, including real estate. The wise seller, buyer and Auctioneer will all work together for a win-win-win deal using the auction method.
{Article written in the National Auctioneers Association “Auction Advantage Newsletter – Winter 2008 Edition”}
** AlynnROCK Group * * Real Estate Auctioneers * * 