So, have auctions become the preferred method of REO disposition, and is it inevitable that they will replace the role of the REO Agent as we know it?
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So, have auctions become the preferred method of REO disposition, and is it inevitable that they will replace the role of the REO Agent as we know it?
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I have seen auctions increase over the past few years but still think it's only about 1/3 of the REO sales in my area (Grand Rapids, MI). I notice that a lot of properties will go to auction first and if they don't sell then will get listed on the MLS by an agent.
The biggest issue is that auctions usually cut out the Realtor (auction.com) or make it difficult for an agent and buyer to work together (Hudson & Marshall due to high deposits and 5% retainer). What do you think?
Any thoughts on Williams and Williams? Those are the 3 biggest; any other auction companies you work with or used to purchase properties? Are you setup as a listing agent??
I have no doubt. Mark this thread and refer back to it when this happens.
What does the NRBA say about this? I don't think so. Maybe about 20% max are online auctions in my market.