I've pitched Robert Reffkin a couple of times about auctions. Even though he is the Compass CEO and running an operation of 30,000 agents and employees, he replies to every email! He said they are working on the things that agents ask about the most. Apparently, he's...
Textbook example of how to run an auction - hit 'em fast and furious in the beginning to get bidders to jump, and hope for the best. It worked beautifully too, because I'm not sure there was more than one bidder. P.S. Carson Palmer was the buyer - he built a big...
It would have been a good idea to launch the auction format on an industry-wide basis during the frenzy. But how about now? They are still a good idea because auctions bring transparency and certainty to the home-buying process, which buyers would appreciate and make...
The network insinuates that auctions are giving houses away, but the initial prices seem ridiculous: Dr. Alex Khadavi, a celebrity skin doctor in Los Angeles, was hoping for a quick sale and big payday when he finally completed a 21,000-square-foot mansion that took...
Instead of pushing a Code of Ethics that is 109 years old and is unenforceable, the National Association of Realtors should do the same thing and require a similar bill of rights. Besides, once you ban blind bidding, then open auctions would evolve naturally!...
I had a good conversation this week with the people at Doorsey, and they are well on their way to providing a sharp and effective online home auction platform that could change how homes are sold. If/when Zillow buys them and provides online auctions nationwide,...
Rob Hahn and I had a conversation about the state of buyer agency - which might only interest realtors, if anybody - but we also got into the idea of home auctions too:
Our multiple-offer process is complete. List price: $1,795,000 Offers, in order of receipt: Offer #1: $1,850,000 Offer #2: $1,915,000 Offer #3: $1,945,000 Offer #4: $1,929,000 Offer #5: $1,950,000 Every other agent would have recommended that their seller sign the...
Word on the street is that Lennar may attempt to sell their new San Marcos homes by utilizing the auction format. They don't have anything on their website yet, and it may be a bit clumsy to roll out so we may not hear much about it until they complete a few. They...
On February 27, 2019, our seller purchased 1463 Paseo de las Flores for $1,950,000. At the time, it was one of the top four highest-priced sales EVER in Encinitas Ranch, with two of the higher sales being $1,970,000 and $1,975,000 (plus a $2,100,000 back in 2005). I...
