WHAT IS "AT AUCTION REAL ESTATE"?

“At Auction” came to life in early 2004. However, we are far from being your typical new business start-up. At Auction Real Estate is a “spin-off” division of The Auction Man, Inc., a nationally known and locally revered, full-service auction company founded in 1971 by Buddy Updike, “The Auction Man”.

As a result of our steadily increasing real estate business volume, we recognized the need for a regional auction firm which focused solely on real estate auction marketing. Our unique services are a combination of traditional and advanced marketing techniques unequalled by other real estate and auction firms. Simply put, no one offers the same quality, level, or number of services that we do.

WE ARE PIONEERS OF ONE OF THE MOST SIGNIFICANT CHANGES IN THE HISTORY OF THE AMERICAN REAL ESTATE INDUSTRY!

This is a time of drastic changes in the way each of us live our lives. Like it or not, we are increasingly forced to let go of our traditional ways of doing things. We see people using the internet in ever-increasing numbers for everything from retail purchases to education, on-line investment portfolio management to traditional banking and downloading music to gaming, among countless other uses. Our cellular phones are now also computers and cameras. Digital cameras are quickly replacing old 35mm film cameras. Basically, any means of making our lives more productive, easier, hassle-free, and more successful is being steadily employed. If there’s a faster way to accomplish more, with better results, we seem to happily embrace it. Of course, the real estate industry is not exempt from such changes.

According to the National Association of Realtors, in the near future at least one-third of all properties will be sold - At Auction! In steadily increasing numbers, property owners are choosing auction marketing as their FIRST choice method of sale. At Auction Real Estate is leading this real estate industry “Revolution” by combining the best of both old and new industry practices, thus offering a unique, advantageous real estate sales experience for owners of all types of real estate.

OUR REASONING BEHIND CREATING “AT AUCTION REAL ESTATE”

Our experience, over the past several decades, has proven that selling real estate through the competitive bidding process, available only through the auction method, results in obtaining true market value. Very often, this value is significantly more than the amount for which the seller would have gladly sold their property prior to conducting their auction. Traditional real estate marketing consists of pre-determining an asking price then waiting to see if the price is within reason (maybe it’s too high, maybe it’s too low). The seller’s price is then eroded by commissions, closing costs, holding costs, seller “allowances”, points, etc.

When we saw our opportunity to offer the same “turn-key” service, offered by the finest traditional real estate brokerages with virtually none of the usual hassles associated with selling real estate, AND we found we could offer these services at NO COMMISSION COST to property owners, we created “At Auction”!

SELL AT AUCTION??? WON’T PEOPLE THINK I’M DESPERATE?

This is a common misconception of the general public. The Great Depression was the main cause of the negative connotations linked to the word “Auction” today. Unfortunately, during the depression years many people lost their homes and farms to foreclosure and the way they were sold was…At Auction.

Banks have utilized the auction method of marketing for centuries. Back then, as they do now, banks quickly recover their interests in real estate by selling at auction. Today, the auction method of marketing is the fastest growing method of selling all real estate. And, although foreclosure auctions do still occur, savvy sellers are now choosing the auction method as their first choice of sale…not as a “last ditch” effort. Through auction, sellers have the opportunity to get all interested parties in one location, at one set time, to bid competitively for their property. For a seller, this is simply a "nothing-to-lose and everything-to-gain" opportunity!

WHAT TYPE OF PROPERTY CAN BE SOLD “AT AUCTION”?

Virtually any property is a candidate for marketing and sale At Auction. Of course, some properties are more ideally suited to the process than others may be.

For example, a property consisting of substantial acreage, with the possibility of subdivision, is generally a more appealing auction prospect than a generic “cookie cutter” tract house might be. This doesn’t mean a tract house can’t be sold at auction… they can be, and have been. However, current market value is more readily and easily pre-determined on a tract house than it can be for large tracts of sub-dividable acreage. A higher return is usually more easily obtained on “unique” properties offered at auction. Properties that have distinctive, desirable, special, or exceptional qualities are usually the most successful auction offerings. Waterfront property, farms, large custom homes, homes with special amenities, large rural estate properties, historic properties, properties with architectural significance, commercial and industrial tracts, one-of-a-kind buildings, and decedent estate properties are just a few of the more ideal auction candidates.

Basically, in a strong “seller’s market”, virtually any property can be a viable auction candidate. On the other hand, during slow “buyer’s market” periods, At Auction is still the best way to sell! When everyone else is waiting months, and sometimes years, to get their property sold, your property is sold and settled in as little as sixty days.