Home
Experience
Services
Event Calendar
Life Behind the Mic
The Rough Cut
Testimonials
Contact

Stay connected:    



Blog Tags
acreage for sale Alice Cooper Andy White announcer asset division Auction auctioneer auctioneers auctioneertn auction marketing auctions bank owned property barrett Jackson bid caller Bill Goldberg blooper Brett Michaels bull CAI car car auction cattle cattle auction commercial real estate cow sale diamond ochs enterprises extreme mustang makeover heifer home auction homes for sale horse Joseph Mast justin Justin Ochs land for sale life behind the mic livestock National Auctioneer's Association NC Auctioneer oh auctioneer real estate Real estate auction Tennessee tennesseeauctioneer.com

Joseph Mast: 2011 International Champion

Joseph Mast: 2011 International Auctioneer Champion

“Now he’s the tops in all the land”

by Peter D. Gehres

‘You’d find him at the local auction barn.’

The story of Joseph Mast and his meteoric rise within the pantheon of American Auctioneering begins in the humble setting of a northeast Ohio dairy farm. Born to Jon and Rhoda Mast, Joseph grew up with his older sister Rachel and younger brother Jonathan as the 7th generation to live and work the land. When the dairy farm was sold and Mast graduated from high school his father suggested auction school by bringing home a Missouri Auction School brochure.

“The only time I went to auctions was when I took the cattle up to the sale barn and dropped them off,” recalled Mast when speaking of his early auction experience. “I was intrigued by Steve Andrews (OAA Hall of Fame Auctioneer). He was my mentor and I spoke to him about school and the business. I don’t want to say my career was by chance but it was not a career I had planned on doing as a youngster.”

After returning home from Missouri, Mast went to work with Andrews and any other auctioneer who needed a hand. Initially Mast’s focus was estate, chattel and real estate auctions like those he was familiar working during his apprenticeship.

“I watched Steve Andrews conduct lots of auctions and I thought it would be good if I could just get folks to start calling me to do those auctions.” Mast recalled. “I soon found out there was a lot more to it than just selling at the auction.”

‘Gotta make my mark and be an auctioneer.’

Mast’s introduction to the auto auction business came while he was spreading manure. Mast was atop an IH 1256 when auctioneer John Kline called and offered, “They need a ringman in Detroit, Michigan tomorrow. I will pick you up at 4 in the morning if you want to go.” Mast was hired the next day as a regular ringman and then auctioneer and Mast began his association with the sale of automobiles at auction.

Mast has regularly worked as many as six auto auctions a week though he now has a more diversified auction schedule. More than working the lane Mast moved into a leadership role at his local auto auction. It was Chad Bailey, the general manager of the Akron Auto Auction that put Mast in charge of all the auctioneers at their regular auctions. This raised Mast’s status both in Ohio and around the auto auction circuit as not only a great bid caller but also an important part of the larger industry. Mast attributes his success in this managerial role to understanding the egos of auctioneers but also supporting them and giving them the tools to effectively do their work.

‘His fame spread out from shore to shore’

In 2004 Mast entered the Ohio Bid Calling Contest and set himself on the trajectory to become Ohio’s latest International Auctioneer Champion.

“In 2004 I placed either second or third and I was upset that I didn’t win.” Mast related. “When I got in the top three it was in my mind however that maybe I could win.”

That notion proved correct when in the winter of 2005 Mast returned to the OAA convention and won the contest.

Three time world champion auctioneer, Paul C. Behr used an analogy that recalls Mast’s days on the dairy farm to describe his winning chant, “As an auctioneer, his chant has a rhythm you could dance around the room to and his voice has that smooth and rich tone everyone loves to listen to. Smooth as whipped butter.”

“Bob Fry was at that 2005 OAA convention and he gave me an application for the NAA and he paid for my first year of membership,” Mast fondly remembers. “He said you ought to go out and experience what the NAA is all about. He didn’t mention the contest but when I filled out the forms for the national convention I completed the International Auctioneers Championship portion as well.”

Mast made the top 15 in the Men’s division of the IAC in San Diego, California. That taste at the top not only wetted Mast’s appetite for more but it gave him exposure to national auction firms looking for young, talented auctioneers. Mast place 2nd in 2008 and 2009 and 5th in 2010 before being named the 2011 Champion.

Mast enshrined his journey to the top by having the numbers 2-2-5-1 engraved on his championship ring. The 5th place finish was extremely important to Mast because after two 2nd place finishes the 5th place finish lead to some soul searching. Mast questioned his progress and his ability to achieve his goals. Mast credits that reflection and the results of it for allowing him to be more comfortable and relaxed in 2011 and finally entering the winners circle.

Mast acknowledges that competing in the IAC, attending the NAA Conventions and completing the Certified Auctioneers Institute were accelerators for his success in the auction industry. Mast’s philosophy on bid calling is to conform to the crowd you are selling too. Bidders need to understand the auctioneer and his or her increments to build confidence and comfort in the auction. Mast focuses on using language that induces a sense of a bargain in the minds of the buyers or confirms that the buyer is obtaining something of real value for his bid amount.

‘He had all he could do and more’

Mast continues to sell at the Akron Auto Auction and manage that staff of auctioneers. He also sells at Flint Auto Auction in Flint, Michigan. Formally focused more on auto auctions Mast currently enjoys a high profile and well rounded auction calendar that include selling at the nationally televised Barrett Jackson Classic Car Auctions, Yoder and Fry Auctioneers, Williams and Williams Real Estate Auctions and Fasig-Tipton thoroughbred horse auctions.

Mast’s increasing focus is on growing Real Estate Showcase Auction Company which he owns and operates with Andy White. The northeast Ohio firm boasts five offices, fifty agents and 11 of those agents also work as licensed auctioneers.

“For the first 10 years of my career I said yes to anything and everything that came along.” Mast stated. “In 2009 I conducted 324 auctions. Going forward I have decided to hone in on those things I like the most and that are the most profitable.”

The paring down on travel has allowed Mast to focus on a young and growing family and local business growth though superior service and attention to clients both large and small.

‘He’s the best of all the auctioneers.’

Mast’s fellow auctioneers and past champions offer consistent praise for Mast and his poise and presence on the auction block.

Justin Ochs, a fellow 2011 IAC contestant that works the block with Mast at Barrett-Jackson stated, “His crisp clear tones, and perfectly timed inflections tend to create frenzied bidding. He’s developed a selling style that is rhythmic, clear, and engaging all with a completely original sound.”

Business Partner Andy White focused on Mast’s presence, “No matter if he is selling classic cars at Barrett Jackson or a challenging piece of Real Estate at home, his poise never changes. His professionalism never sways and he can deal with any situation or client with a calm, common-sense, business attitude.”

2006 IAC Champion John Nicholls sums up the comments of many in the auction industry when he offered, “I was so proud of Joseph. It’s been very gratifying to watch him develop as a bid caller and a person. I know that the IAC Championship has been a goal of his for a long time, and I was thrilled for him and his family. In addition, Joseph will make an excellent ambassador for the NAA and auction industry.”

At only 31 Mast intends to continue to refine his business interests and projects while focusing on being a good husband and father. Mast and his wife Marie raise their three children, Emma, Mattie and Micah, in a beautiful home overlooking the rolling hills of Holmes County, Ohio. There are many chapters left to write on Mast’s career and many more millions of dollars worth of property to move across the auction block. For now, however, Mast is focused on present commitments and enjoying his year as champion while sharing his experience with auction groups across the country.

Justin Ochs, CEO
Diamond Ochs Enterprises
TennesseeAuctioneer.com
"Choosing the right auctioneer to handle your auction often makes the difference. With a passion for excellence and extraordinary performance, Diamond Ochs Enterprises, your Tennessee Auctioneer, works to secure the highest dollar for your assets"
Posted in Uncategorized | Tagged , | Comments Off

Dave Ramsey: Sell a house at auction rather than rent?

Dave Ramsey:  Sell a house at auction rather than rent?

Source:  news-star.com

Link:  http://www.news-star.com/news/business/x1401560863/Dave-Ramsey-Sell-a-house-at-auction-rather-than-rent

Dear Dave,

I have a couple of rental houses, and I was thinking about unloading them at auction instead of renting them out again. What are your thoughts on selling homes at auction?

Shannon

Dear Shannon,

First, let’s take a look at the two types of real estate auctions, absolute auctions and auctions with reserve. With an absolute auction, whatever the house sells for, that’s it. When the gavel drops, you’ve sold the house. An auction with reserve is where the seller, or his agent, reserves the right to accept or decline any and all bids. A minimum price may or may not be disclosed, and the seller reserves the right to accept or decline any bid within a specified timeframe.

As a general rule, auctions are not going to bring retail price. People who go to them are looking for a deal, so you’ve got to be willing to accept less than what the property’s actually worth. Essentially, what you’re doing is drawing out the vultures and hoping one of them will get excited and pay a price close to retail.

Take a good look at your properties and the neighborhoods they’re in, and decide what you’re willing to accept. Then, talk it over with a quality auctioneer in your area. I’ve done pretty well selling properties at auction, and I’ve also found some great deals buying properties at auction. Of course, that meant someone else didn’t do so well!

Justin Ochs, CEO
Diamond Ochs Enterprises
TennesseeAuctioneer.com
"Choosing the right auctioneer to handle your auction often makes the difference. With a passion for excellence and extraordinary performance, Diamond Ochs Enterprises, your Tennessee Auctioneer, works to secure the highest dollar for your assets"
Posted in Uncategorized | Tagged , | Comments Off

Reserve Auction vs. Absolute…

Reserve Auction vs. Absolute

I recently posed the following question to fellow auctioneers: “Has the reserve confirmation system of auctions decreased our buyer pool?”

The over whelming response is that, yes, in fact it has. Why? You might ask, would the type of auction conducted effect the number of buyers that are interested in bidding on a given item.

Be sure to read, “Has the reserve confirmation system decreased the buyer pool?” post by Mike Brandly, while we take a look at several economic factors and other auction firms who continue to adhere to the absolute auction platform.

Although several industries were effected by the economic downturn, we will use an example from the real estate auction industry.  Leading up to the period before the market bust, 2006 to early 2007, reserve confirmation style auctions were being conducted successfully.  Prices were soaring, and while evaluating real property by sales within a six month period, it was fairly reasonable to expect to exceed those values on auction day.  Buyers had money to spend, or were dealing with financial institutions eager to lend the necessary funds.

We have all witnessed the aftermath of the market crash.  Prices plummeted, lending tightened, and buyer spending froze.  Tax appraisals once thought to be a fraction of what a property was worth, now were proving higher than current market value.  During the market fall, auction agents were still booking real estate auctions under current price evaluations, not realizing that prices would fall further before the auction date would occur.  Thus, resulting in “No Sales”, and reducing buyer confidence when buying at auction.

Put yourself in the position of the buyer, especially one who is deciding to spend a large amount as would be the case with a real estate investment.  They spend weeks before the auction researching the property, perhaps talking with lenders and filing loan applications, touring the property with family and friends and connecting emotionally to the home/land/business.  On auction day they meet all of the terms and conditions and when the dust settles they are the final and high bidder!  The next thing they hear is, “No sale.  The reserve was not met.”  This leaves a bad taste in the mouth of the buyer.  Why take the time to invest physically, mentally, and emotionally in a transaction if I will be denied the right to own the property even if I am the high bidder?  Thus, we are finding buyer pools are shrinking for reserve confirmation auction platforms.

Why would I choose an absolute auction?  Isn’t that the sale of my property regardless of price?  Yes, you would be correct!  Absolute auctions confirm to potential buyers that when all is said and done, if I am the final and high bidder, ownership of the property will transfer to me.  There are no secrets, this is a transparent transaction that levels the playing field for buyers and increases competitive bidding.

How can you be sure that you will achieve true market value for your property at an absolute auction?  Take a look at the two largest, and most successful auction firms in the nation that adhere to the absolute auction platform.

Ritchie Brothers Auctioneers, the world’s leading industrial equipment auction firm, has been conducting unreserved auctions since 1958.  The company reports $851 million in gross auction revenues during the first three months of 2011, 10% higher than the same period in 2010 (News Release – May 3, 2011).

Barrett-Jackson, The World’s Greatest Collector Car Event, surpassed it’s 2010 Scottsdale event with nearly $70 million in total sales at the same event this year.  In addition, 50% of the buyers who bought during the event were new buyers, and 45% of the consignments were received from new sellers.  Barrett-Jackson boasts that it sold more cars for more money than any other collector car event in the world (News Release – January 26, 2011).

I recently spoke with a buyer at a Ritchie Brothers auction in Nashville, TN.  He stated, “You can buy something worth the money at these auctions, but your not going to get a deal”.  This lends itself to the fact that absolute auctions increase buyer interest, therefore generating greater competition for the item up for sale and increasing revenues for the seller.

 

Justin Ochs, CEO
Diamond Ochs Enterprises
TennesseeAuctioneer.com
"Choosing the right auctioneer to handle your auction often makes the difference. With a passion for excellence and extraordinary performance, Diamond Ochs Enterprises, your Tennessee Auctioneer, works to secure the highest dollar for your assets"
Posted in Uncategorized | Tagged , | Comments Off

Foreclosures Could Produce Real Estate Auction Boom

Foreclosures Could Produce Real Estate Auction Boom.

Sagging prices for commercial and residential property have sparked an uptick in business for many real estate Auctioneers, National Auctioneers Association members say.

Lower prices have lured potential buyers and investors to auctions in search of bargains that were unheard of just a few years ago.

Jay Edwards, AARE, of Jay Edwards & Associates, Bel Air, Md., says he conducted 25 real estate auctions bringing in $4 million during the first quarter of 2011 — a 30 percent increase over the same time last year.

Tom Hirchak Jr., CAI, MPPA, of Thomas Hirchak Co., Morrisville, Vt., says not only is his business up compared to last year, but returns that he has been able to secure for his clients often are far from bargain-basement prices.

“We’ve sold things for twice what our sellers want,” he says.

John Kurtz, CAI, of Kurtz Auction & Realty Co., Owensboro, Ky., even has seen a spike in prices for agricultural real estate.

“I think there is new money investing in farmland,” he says.

Get the complete story from NAA Auctioneers at www.auctioneers.org/auctioneer.

Justin Ochs, CEO
Diamond Ochs Enterprises
TennesseeAuctioneer.com
"Choosing the right auctioneer to handle your auction often makes the difference. With a passion for excellence and extraordinary performance, Diamond Ochs Enterprises, your Tennessee Auctioneer, works to secure the highest dollar for your assets"
Posted in Uncategorized | Tagged , | Comments Off

NAA Auctioneer Hopes Videos Will Help The Public Better Understand the Auction Profession

NAA Auctioneer Hopes Videos Will Help The Public Better Understand The Auction Profession

“Auctioneer”, National Auctioneer’s Association June-July 2011 issue

By Sarah Bahari, Contributing Writer

Auctioneer Justin Ochs noticed a diJustin Ochs Auctioneersturbing trend in auctions. More people were foregoing traditional auctions and opting instead for the convenience of the Internet.

But Ochs, an Auctioneer in Madison, Tenn., knew online auctions lacked a crucial element.

“A live auction engages people in a manner that creates competition and generates thousands of dollars,” Ochs says. “A computer can’t put a hand on your back and tell you to bid one more time.”

To educate the public about auctioneering, Ochs created “Life Behind the Mic,” a video blog that sheds light on the industry through discussions about hot topics, talks with up-and-coming Auctioneers and interviews with some of the most influential figures in the business.

Launched last fall, the series is already attracting scores of viewers in the auction industry, and Ochs hopes to find ways to reach more of the general public.

Misconceptions

When people find out what Ochs does for a living, he says, they immediately wan to know more about the Auctioneer chant. But they do not know much more about auctions.

“There’s a misconception that Auctioneers are the guys who sell cattle, and that’s it,” Ochs says. “Throughout the industry, there are a lot of elite business men and women selling many important assets, and we want to reveal that.”

Justin Ochs AuctioneerOchs, 32, who owns Diamond Ochs Enterprises, decided early on that “Life Behind the Mic” would include a mix of interviews and live action shots from auctions around the country.

In one clip, he is interviewing Amy Assiter of Assiter Auctioneers, Canyon, Texas, who is the 2000 International Auctioneer Championship winner, about women in aucitoneering. In another, he talks with Joseph Mast, CAI, of Real Estate Showcase, Millersburg, Ohio, about being the youngest Auctioneer at Barrett-Jackson.

Other videos take viewers to the American Quarter Horse Association World Show in Oklahoma City and an elite heifer sale in the Tennessee Valley.

It’s personal

Interspersed throughout are family videos, which Ochs says give the project a personal feel. In one, he and his wife, Kelly, wish everyone a happy Thanksgiving. In another, he takes his son, Weston, to his first cow sale.

Using a small camera, Ochs spendss several hours every week conducting interviews and editing the footage into two-minute clips.

The videos are on his website, www.TennesseeAuctioneer.com, as well as on Facebook and YouTube.

Mast says Life Behind the Mic has been beneficial for Auctioneers eager to spread the word about what they do.

“Anything wJustin Ochs Auctioneere can do as Auctioneers to get our name out to the public is a big help,” Mast says.

“There are a lof of people very naive about what we do, and we would love to educate them.”

Ochsauction career started relatively late. He studied animal science at Kansas State University, Manhattan, Kan., and taught at a North Carolina community college while managing the barn for the equestrian team. While there, he tried out announcing for a horse show.

After moving to Tennessee to earn a Master’s Degree in event management, Ochs met and apprenticed with a Tennessee Auctioneer’s Association Hall of Famer.

“Once I did that,” Ochs says, “all sorts of doors opened.”

Ochs won the state’s Rookie Bid-Calling Championship and was the 2009-2010 Tennessee State Champion Auctioneer.

Educating the public about auctioneering has become a goal for Ochs, who says young Auctioneers in particular have the ability to engage people through technology and projects such as “Life Behind the Mic.”

“This is a huge, huge business. Auctioneers sell everything from livestock to antiques to website domains,” Ochs says. “We want the public to know more about the benefit of our services.”

 

Justin Ochs, President

“Choosing the right auctioneer to handle your auction often makes the difference. With a passion for excellence and extraordinary performance, Diamond Ochs Enterprises, your Tennessee Auctioneer, works to secure the highest dollar for your assets…”

tennesseeauctioneer.com Facebook button Twitter button LinkedIn button

Justin Ochs, CEO
Diamond Ochs Enterprises
TennesseeAuctioneer.com
"Choosing the right auctioneer to handle your auction often makes the difference. With a passion for excellence and extraordinary performance, Diamond Ochs Enterprises, your Tennessee Auctioneer, works to secure the highest dollar for your assets"
Posted in Uncategorized | Tagged , | Comments Off

Tribute to Spanky – Life Behind the Mic

Tribute to Spanky – Life Behind the Mic

spanky assiterSpanky Assiter may be the greates auctioneer of my time. He is an International Champion, World Champion, Texas State Champion, and NAA Hall of Fame Auctioneer.

Assiter is Chairman & Founder of Assiter Auctioneers in Canyon, TX. He is the lead auctioneer for Barrett-Jackson, “The World’s Greatest Collector Car Event”. He also sells for Williams & Williams, Keeneland Thoroughbred Sales, and multiple factory and wholesale automobile auctions among many other venues.

Whether it be a real estate auction, car auction, or benefit auction, Spanky has a stage presence that encourages competitive bidding between buyers resulting in greater profit for his clients.

Not just a bid-caller, a true auctioneer that encompasses stage presence, bid-calling, and block control that produces a true performance.

Spanky has simply sold everything, and is one of the most sought after auctioneers in the country. Enjoy the footage below!

 

Justin Ochs, President

“Choosing the right auctioneer to handle your auction often makes the difference. With a passion for excellence and extraordinary performance, Diamond Ochs Enterprises, your Tennessee Auctioneer, works to secure the highest dollar for your assets…”

tennesseeauctioneer.com Facebook button Twitter button LinkedIn button

Posted in Uncategorized | Tagged , | Comments Off

Live Auctions Generate Greater Revenue – Life Behind the Mic

Live Auctions Generate Greater Revenue

I have stood behind the claim before that live auctions will always generate greater revenue for the seller when the appropriate asset is being sold.

The fact remains that the environment created by live auctions produces greater competition between buyers, thus driving up the net profit for the seller.

By employing a professional auctioneer, and qualified and capable bidder assistants, sellers will benefit from prices realized by live auctions.

As you watch the video below, notice the buyer initially telling the bidder assistant that he is finished.  After continual encouragement from the bidder assistant, the buyer decides to bid several more times beating out the competition and becoming the successful bidder for the automobile.

Whether you are selling automobiles, antiques, livestock, or conducting a real estate auction, live auctions are the most profitable marketing method to employ.

Justin Ochs, CEO
Diamond Ochs Enterprises
TennesseeAuctioneer.com
"Choosing the right auctioneer to handle your auction often makes the difference. With a passion for excellence and extraordinary performance, Diamond Ochs Enterprises, your Tennessee Auctioneer, works to secure the highest dollar for your assets"
Posted in Uncategorized | Tagged , | Comments Off

Realtors Make Auctions Work

Realtors make auctions work

The Tennessean – Nashville, Tenn.

Author: Bobby Allyn Date: Jun 5, 2011

realtors make auctions workDwight O’Neal, who specializes in high-end home auctions, remembers when selling was nearly effortless.

“It didn’t take a lot of savviness to sell real estate prior to the downturn,” he said. “Now, we’re all struggling to find a way to get out of the heap of property that’s not selling.”

In 2008, just as Nashville’s housing market began to nosedive, O’Neal launched Realty Trust, an auction company with a bold emphasis on advertising. The way that houses are marketed is expected to evolve in the wake of the housing slump. And O’Neal says messaging with a tighter focus may be a promising way to attract a larger audience.

“Mass marketing has never worked. When money was easy, houses were flying off the shelves. It didn’t matter what the marketing was,” O’Neal said. “Now that the market has changed, the old way won’t bring the same results.”

Local Realtor Christie Wilson agrees. But she predicts new marketing investments will gain ever more momentum on the Web. Nearly 90 percent of homebuyers start their search online, Wilson said. “How are the other 10 percent finding their homes? Maybe they’re the buyers we need to reach.”

Realty Trust has become one of the first local auction firms to eschew blanket marketing for a more zeroed-in strategy. “When we looked at people who were being successful around the country — the very large companies — we found target marketing would be the best way to compete,” O’Neal said.

realtors make auctions workO’Neal says typical auction listing practices — traditional ads and lawn signs — do not engage enough buyers and have recently led to properties selling below their true potential yields.

So, before Realty Trust auctions a house, his team compiles statistics on prospective buyers, collecting income levels, net worth, spending patterns and school preferences. He gathers this data from information providers ranging from infoUSA to Dun & Bradstreet to the U.S. census.

O’Neal said buyers usually live within a 30-mile radius of the home. “That’s where we usually start.”

But some targeted buyers are hundreds of miles away. In that case, O’Neal will place advertisements in The Wall Street Journal and other national publications to capture a wider although still specific group.

“A lot of real estate companies were wondering, ‘What are we doing wrong?’ ” he said. “There are many, many, many more potential buyers.”

A segment of these yet-to-be-discovered buyers may find auctions attractive.

Joe Seales, who auctions homes and sells them in a traditional way, said more sellers are using auctions for the first time. They’re eager to move a home promptly in a market swamped with vacant inventory, he said.

“There’s been a lot of equity lost in homes. People have been coming to auctions to be efficient in an uncertain market.”

Realty Trust has noticed. After crunching demographic data, the company sends notifications by calling, mailing and texting, in addition to TV spots and newspaper ads, all tailored to thousands of specific types of would-be buyers. Almost all of them are home shoppers with deeper pockets.

realtors make auctions workA $4 million home O’Neal will soon auction in the Governor’s Club area, for instance, has a $45,000 marketing budget. Of that, the seller is to pick up $30,000 of the cost.

O’Neal said this form of advertising has laser- beam precision. In essence, the more money spent on target marketing, the more the home stands to net at auction, he said.

“People have already gotten to the point in real estate that they’re tired and worn out with the traditional method of selling,” he said. Additionally, the multiple listing service is a “big dumping place,” he said. “The system is becoming antiquated.”

Old ways remain

The way the majority of firms market home auctions has not changed much the past 25 years, according to Stan Vaught, auctioneer with Bob Parks Realty.

“We rely on signs and ads,” Vaught said.

Bob Parks also has a list of tens of thousands of potential buyers to whom it sends auction notifications.

O’Neal, a former Bob Parks broker, says that his former employer’s mailing list is unscientific and does not rely on fresh demographic data.

Vaught counters that Bob Parks remains one of the biggest players in the Nashville-area auction arena. It auctions about 30 homes a month, Vaught said, and usually spends about $1,500 on auction advertising. O’Neal, by contrast, auctions four properties or so a month, though all typically are at big-ticket prices.

Niche marketing techniques have the potential to open up a whole new market to sellers, according to Edsel Charles, president of MarketGraphics Research Group.

Yet for most sellers, financial stumbling blocks persist. “I think there are very few doing this.

I think (O’Neal) is ahead of what others are doing in marketing,” Charles said. But “a lot of real estate agents don’t have the money to spend on (such) target marketing.”

realtors make auctions workWith Nashville-area home prices at generational lows, many experts predict that higher-end home sales will begin to rebound. Recent sales data bear this out. According to the Greater Nashville Association of Realtors, 309 homes sold for more than $800,000 from last June to May; that’s 10 more properties compared with the previous yearlong period but fewer than the 2008 high of 315.

“I didn’t think it would have returned as hot as it’s returned,” Charles said. “In Nashville, the high-end market has quickly moved. It’s because stock markets have turned. People are more comfortable.” Many are saying, ” ‘Let’s buy before (home) prices go back up.’ ”

Still, U.S. consumer confidence fell to a score of 60.8 in May from a rating of 66 points the previous month, the United States Conference Board recently reported.

Such skittishness, however, is not affecting higher-end buyers in the Nashville area, O’Neal said.

“Demand has been pent up,” he said. “These buyers had the desire and cash two years ago, but they were afraid of spending more money than they intended. In auctions now, buyers aren’t having that worry. There’s more competition, and that’s the validation.”

Skeptics insist that selling a house on the auction block will guarantee a lower closing price. Yet luxury homes, it appears, operate in their own real estate universe. “If you are selling a real desirable property, you can actually get more at an auction,” Seales said.

Reach Bobby Allyn at 615-726-5990 or ballyn@tennessean.com.

Is sale by auction the right move?

Pros, cons: Broker Dwight O’Neal argues that selling a home via auction is the best way to gauge current market worth of a property. Sellers who want to move something fast should consider an auction, said Steve Hannah, a real estate agent with Century 21 Lakes, Land & Auction. But it could mean selling a home below expectations, some suggest. “People might be willing to look at the worst-case scenario, if it means moving a home,” Hannah said.

realtors make auctions workMinimum bids: One means of protecting against a low-ball price is for the seller to set a minimum bid. Most auctioneers say bidders usually don’t know whether a home has a reserve price or not.

Fees: Auction fees are commonly between 6 percent and 8 percent of the closing price, which is comparable to an agent’s commission in a traditional sale. In an auction, the buyer pays all closing and title costs.

Left holding the bag: There are cases in which the highest bidder doesn’t have the promised funds, says Jay Lowenthal, broker with Zeitlin & Co. Realtors and former president of the Greater Nashville Association of Realtors. But proof of cash requirements usually wards off poorly qualified bidders, he said.

Final tally: With valuable properties, sellers may fetch more than they anticipate occasionally. In most cases, experts agree that auctions don’t necessarily produce exceptional deals for sellers or buyers — just a fair deal. But auctions will ensure that a property is sold swiftly.

Justin Ochs, President

Affiliated with Real Estate Auction Firm StanRich Auctions, Inc. Firm #3829

“Choosing the right auctioneer to handle your auction often makes the difference. With a passion for excellence and extraordinary performance, Diamond Ochs Enterprises, your Tennessee Auctioneer, works to secure the highest dollar for your assets…”

tennesseeauctioneer.com Facebook button Twitter button LinkedIn button

Posted in Uncategorized | Tagged , | Comments Off

Land – 5.86 Acres For Sale – Gallatin, Tennessee

Land5.86 Acres For Sale – Gallatin, Tennessee

Land - 5.86 Acres For Sale - Gallatin, TennesseePerfect 5+ acres of land for sale near Gallatin.  Gently sloping lot surrounded by the peace & quiet of the country.  2 perk sites available on land tract.  Pad cleared in 2009 for home or barn.

Easy commute to Hendersonville & Nashville.  Great place to raise children, or enjoy relaxing after retirement.

Additional 8.06 acres available for purchase.

Beautiful Lake View.

Click Here for the MLS listing.

Call Justin Ochs, 615.507.5984 with additional questions.

Land - 5.86 Acres For Sale - Gallatin, TennesseeLand - 5.86 Acres For Sale - Gallatin, TennesseeLand - 5.86 Acres For Sale - Gallatin, Tennessee

View the virtual tour at the following link:  http://www.youtube.com/watch?v=ea6TfbT03u0

Justin Ochs, President

Affiliated with Real Estate Auction Firm StanRich Auctions, Inc. Firm #3829

“Choosing the right auctioneer to handle your auction often makes the difference. With a passion for excellence and extraordinary performance, Diamond Ochs Enterprises, your Tennessee Auctioneer, works to secure the highest dollar for your assets…”

tennesseeauctioneer.com Facebook button Twitter button LinkedIn button

Posted in Uncategorized | Tagged , | Comments Off

Land – 14.02 Acres For Sale – Gallatin, Tennessee

LAND14.02 Acres For Sale – Gallatin, Tennessee

14.02 Acres For Sale - Gallatin, TennesseeBeautiful acreage for sale with hilltop views. Come and enjoy the peace and quiet of the country. Own your own 14 acres of land that was originally a part of a 176 acre farm.

Land can be bought in 2 separate tracts, 5.86 acres or 8.16 acres.

14.02 Acres For Sale - Gallatin, Tennessee14.02 Acres For Sale - Gallatin, Tennessee14.02 Acres For Sale - Gallatin, TennesseeBring the kids, horses, four-wheelers and fishing poles.  Acquire your own little piece of heaven with breathtaking scenery.

3 perk sites available on this land. City water available. Driveway put in in 2009. Spot cleared for home or barn on lower 5 acres. Call Justin Ochs with questions, 615.507.5984.

Click Here for MLS listing and more information.

Justin Ochs, President

Affiliated with Real Estate Auction Firm StanRich Auctions, Inc. Firm #3829

“Choosing the right auctioneer to handle your auction often makes the difference. With a passion for excellence and extraordinary performance, Diamond Ochs Enterprises, your Tennessee Auctioneer, works to secure the highest dollar for your assets…”

tennesseeauctioneer.com Facebook button Twitter button LinkedIn button

Posted in Uncategorized | Tagged , | Comments Off

Affilliated with Hanson Realty & Auction, Real Estate Auction Firm #3806

Website designed and maintained by EDJE technologies | admin