Today's Roebuck Auction Results...

[SHELLY]

What happened to their, "Sold in 1 Hour" campaign? Now, it's four to six weeks. ???

That reads "4-6 weeks at true market value."

What that implies that the sellers haven't been pricing their homes at "true market value"..... otherwise they'd have already sold.


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[Matt J]

TN fan, I would be shocked if the seller and banks actually gave Roebuck an exclusivity period that long, where a 10% fee would attach to any sale on these properties for that length of time.

Why? Because there are multiple auction companies ready willing and able to do these auctions, and this one contained the holy grail, which was a guaranteed pay date on a handful of "absolute" properties that will more than make up for the marketing spend and the $2000 that the drink/cheese service cost at Watercolor to host the event. The auctioneer used their own AV equipment, I believe. Anyone care to calculate what the auctioneer took in in revenues on the "absolute" properties alone, (the ones that were not pulled)?? I would venture to say they had a guaranteed pay date of around $150-175K without calculating, and that's assumming that none of the other "ordered sold" properties close.
So if I'm the principal here, or the banks, and I'm handing the auctioneer a check for $175K to host this auction/open house, I'm not also going to give that auctioneer ANY exclusivity beyond the auction period. Why? Because potential purchasers have a hard time trusting an auction company on disclosures etc. and Saturday's auction did nothing to esuage my general mistrust of auctioneers I can tell you.

Don't forget the cost of "SOLD in one hour" signs they had to run around and stick on the previous signs.

 

[Matt J]

Hey, don't they need my permission to advertise for commercial purposes, using a photograph of me?

Oh pish, don't you think after the "double you money this spring" comment they aren't too worried about lawsuits?

 

[Miss Kitty]

swgb...you are on a roll

 

[Matt J]

swgb...you are on a roll

It takes alot of bottomless champagne to get me to a "pish" mode.

 

[Ohio Girl]

Just curious why the Roebuck web site isn't adding "Sold in One Hour" banners on the pictures of the properties that sold on November 17th. Wouldn't this be good advertising for them?

 

[Smiling JOe]

Probably because they don't actually sell in one hour. In fact, even from the auction date, it still takes about 30 days before they can close.

 

[robertsondavies]

So has anything from this Roebuck auction gone under contract ?? Other than the "absolute" properties. Also, have the "absolute" properties gone under contract, or have there been hiccups there as well??

 

[Smiling JOe]

Good question. Roebuck is not a participant in our local Realtor Association, so none of their sales will show up there. You will have to check the WalCo clerk of courts or the property appraiser, to find out if the properties closed.

 

[robertsondavies]

Good question. Roebuck is not a participant in our local Realtor Association, so none of their sales will show up there. You will have to check the WalCo clerk of courts or the property appraiser, to find out if the properties closed.

good idea SJ..
I checked on Walton clerk of cts. cite, and see that at least 1 of the properties has closed.... the lot on canal front in Daughettes (lot 24 i think) for appr. 165k. nothing else so far