Submitted By: Stewart Larsen - Boerne Office
In a recent observation by Ina Steiner on AuctionBytes.com, October 22, 2007, we note that Ina sees… Real Estate Auctions Contribute to Live Auction Growth.
According to Ina Steiner, and in a recent survey, forty-seven percent of auctioneers that responded, reported an increase in gross sales receipts in the first three quarters of 2007. Additionally, Ina states, residential real estate auctions continue to be one of the fastest growing segments of the live auction industry with an estimated growth of 3.1% since the end of the second quarter. During this same period, commercial and industrial real estate auction has grown 2.9%.
Locally, we see real estate auctions on the rise as well. As noted by David Hendricks in Business Section D of the San Antonio Express-News, October 20, 2007, recently an auction of the McAllister house was conducted. Although bids submitted did not result in a sale, we recognize this as a viable alternative to conventional sales practices and are realizing our need, as REALTORS® to expand our marketing efforts in this arena. Having already experimented with this method of exposure and potential avenue for a sale, my own comfort level with real estate auctioning is growing at a very positive rate. For more information, visit me in our Boerne office or go to www.bradfieldproperties.com/stewartlarsen .
