Auctions for the Affuluent - Hmmm

I received a call yesterday from a very successful REMAX agent here in Columbus. He usually carries between 75-100 listings and has a very successful team. His listings go from about $400,000 up to $2,000,000.

The call was out of the blue, but on my cell. I don't post my cell online, so he had to have gotten it from someone else. Regardless the conversation was interesting. He asked for a meeting as soon as possible. Ok. No problem there. So I asked him what topic he would like to discuss? "Real Estate Auctions" was the answer. Is there any particular property that I should look at to prepare? The answer here was interesting. He said no, that about 20% of his clients were in need to sell situations and that he wanted to put together a co-marketing effort to reach out to affluent consumers who would embrace selling at auction.

I don't know how many other auctioneers are getting these calls, but I suspect it is just going to increase. NAA auctioneers have been saying for a long time that auctions are vehicles for selling property at market rates in a short period of time. It is not just for distressed assets (although we do a lot of those).

I look forward to seeing everyone at the auction. Happy bidding.