How has the Auction Perception Shifted Lately?
Braden McCurdy | July 8, 2019
The perception of auction is changing. It’s changing one great auction success at a time and is no longer a last resort.
Everyday home Sellers are choosing auction as a first choice and finding you can sell timely, without contingencies and without sacrificing price. The closed door negotiations are eliminated and auction provides a fair, level playing field for all participants.
Auctions are fun, which also contributes to the positive perception change as well. Every time I’m in front of a crowd speaking I ask “Who has been to an auction?” and the hands go up. You see most people have very favorable experiences with an auction they have attended. People enjoy auctions. Some of the latest television entertainment shows such as Barret Jackson and Mecum Auctions are contributing to the energy level and perception change as well.
However, real estate is different and we are occasionally asked why someone would auction a property?
So, how are we changing the perception of auction in Wichita, Kansas? I think it boils down to our culture and awareness. You see, our team is a family and all our team members strive to improve the perception of auction within our community. We also find that we have auction advocates within the marketplace. These are the people in the trenches telling our story and spreading the good word of how the McCurdy team cares and delivers when it’s time for us to go to work for their family. Good auctions attract other good auctions through word of mouth; it’s a grass roots effort.
You see, our assignments in all actuality are the opposite of the common misperception of distress. The majority of the properties we sell are non-distressed and likely free and clear of any encumbrances. These are everyday home sellers looking to conclude their property ownership responsibilities. In fact, in excess of 60% of the properties we sell are with no minimums and no reserves. This number continues to grow as the marketplace learns that the foundation of a good auction is based on competition. In today’s emerging market finding a Buyer isn’t as much the challenge, its discovering who is willing to pay the most which the auction process provides the competitive bidding environment to achieve top dollar.
Lastly I would invite you to come out and witness an auction first hand, you might buy something, you will likely learn something and no doubt you will have some fun!
