Trust Hossner Brothers Auction Experts
Welcome to the Hossner Brothers Auctioneer's web site. We offer courteous, professional services and specialize in the auctioning of antiques, collectibles, real estate, and second-hand goods. Often actions are on open outcry style, but situations will differ depending on location and items sold. Many of our auctions are conducted in the Ashton Opera House. We also conduct auctions on site.
WHY AUCTION REAL ESTATE?
REAL ESTATE AUCTIONS ARE GROWING AT A RAPID PACE.
AUCTIONS are no longer just used for distressed properties and foreclosures. They are the wave of the future, so read on to find out why.
REAL ESTATE AUCTIONS: THE BASICS & BENEFITS
According to the National Auctioneers Association:
"While auctions are hardly a new home-sales technique, the real estate industry has taken more notice of it in recent years. Residential real estate auctions grew by 12.5 percent in 2006, making up the fastest growing sector of the auction industry"
According to Tony A. Isbell, Realtor Magazine online:
"Auctions have always provided benefits to both the buyer and the seller. The buyer has the opportunity to bid on a property and often purchase it at a discounted price. Buyers also have the comfort of seeing market value established at the auction.
From the seller’s perspective, an auction provides an expedited sales process, control over the terms and conditions of the sale, and highly intense promotion that isn’t generally associated with conventional retail sales methods. Because of its timeliness, an auction also creates immediate interest in a property from buyers who might otherwise sit back to see whether sellers will make further price reductions.
Recognizing those benefits and the need for greater flexibility in a slower market, some real estate salespeople have begun to explore auctions, both in person and online, as a marketing strategy open to them. Many are finding that auctions work well if you have a motivated seller and proper advertising exposure. At the same time, some auction companies are beginning to see real estate practitioners for what they are — a wealth of information and professional allies in selling a property at auction."
Why are a growing number of people using auctions to sell Real Estate?
It is a win/win situation for all involved! Check out these benefits:
According to the National Association of Realtors:
"A real estate auction is an innovative and effective method of selling real estate. It is an intense, accelerated real estate marketing process that involves the public sale of any property -- most certainly including those that are nondistressed -- through open cry, competitive bidding.
BENEFITS TO THE SELLER:
* Buyers come prepared to buy
* Quick disposal reduces long-term carrying costs, including taxes & maintenance
* Assurance that property will be sold at true market value
* Exposes the property to a large number of pre-qualified prospects
* Accelerates the sale
* Creates competition among buyers - auction price can exceed the price of a negotiated sale
* Requires potential buyers to pre-qualify for financing
* The seller knows exactly when the property will sell
* Eliminates numerous and unscheduled showings
* Takes the seller out of the negotiation process
* Ensures an aggressive marketing program that increases interest and visibility
BENEFITS TO THE BUYER:
* Smart investments are made as properties are usually purchased at fair market value through competitive bidding
* The buyer knows the seller is committed to sell
* In multi-property auctions the buyer sees many offerings in the same place at the same time
* Buyers determine the purchase price
* Auctions eliminate long negotiation periods
* Auctions reduce time to purchase property
* Purchasing and closing dates are known
* Buyers know they are competing fairly and on the same terms as all other buyers
* Buyers receive comprehensive information on property via due diligence packet
BENEFITS TO THE REALTOR®:
* Generates a list of ready, qualified buyers
* Offers clients and customers new selling and purchasing options
* Increases revenue and market share
* Develops your own market niche
* Assurance that property will be sold at true market value
* Property is sold within a relatively short period of time
* Exposes the property to many potential purchasers
* Auctions bring people in to look at all your listings, not just the auction listing
* Successful auctions result in referrals and return business
* Agents can earn commissions as referring agent/broker, cooperating agent/broker, or as the listing agent/broker."
"Real Estate Fuels Live Auction Industry
The live auction industry has grown to $255 billion, with real estate leading all the other categories in growth.
Revenue from live auctions grew by 6.3 percent in the first half of 2006 compared with the same period from a year ago, according to recent surveys of members of the National Auctioneers Association conducted by MORPACE, an international research firm, and Harris Interactive.
The hottest category of all auctions, residential real estate, grew by 4.4 percent in the first half of 2006, after an 8.4 percent increase in 2005 over 2004. Also, outperforming other auction categories were land and agricultural auctions, which increased by 7 percent, and commercial and industrial, up 4.9 percent in 2005.
Tommy Williams, president-elect of NAA and a Tulsa, Okla., auctioneer who specializes in real estate, says growth in both distressed and non-distressed types of sales has been comparable at his company, Williams & Williams. “The increase for both is pretty constant,” he says.
Key to the increase is greater acceptance by consumers and real estate practitioners. “People are beginning to understand the concept,” he says, noting that changes in traditional real estate, such as buyer brokerage, have also been a catalyst." According to Realtor Magazine Online.
