Phoenix Business Journal - Jan 26, 2007
Friday, January 26, 2007
Home auction brings agents, buyers, sellers together
by Christia Gibbons
The Business Journal
In a residential housing market where it's difficult to create buzz and excitement as sellers outnumber buyers, a
John McCann, through his recently established National Real Estate Auction Corp., said he plans to pull in 1,500 to 2,000 home buyers, sellers, real estate agents, brokers and others for his multihouse auction March 24 at the
In negotiations now for homes ranging in price from $125,000 to $5 million, McCann said he is hoping to gather more than 100 homes for sellers to auction off.
By offering a range of houses at a range of prices in a process that will include online viewing, appointment walk-throughs and open houses culminating in the auction, McCann said his concept allows from five to 10 times the number of people as usual to view a house.
"We hope to create a fierce competition," McCann said. While his own realty company, Premier Real Estate Group, will have houses in the auction, other sellers, whether represented by themselves or by agents, also will have houses up for bid.
McCann, who owns several real estate companies and a mortgage business in
Sellers will be able to set their own minimum bid, and bidders must ante up a $2,500 cashier's check to enter the bidding process. Fees to enter a property for sale in the auction begin at $2,000.
Frank Busch, president of Thomas Title & Escrow in
"It's a creative marketing ploy," Busch said.
Barry Kramer, of Keller Williams Realty in Ahwatukee, agreed. "This is a reaction to where the market is," Kramer said. "(McCann's) trying to create excitement and generate some sales. It's a good idea."
McCann, who originally fled to
Wayne Watson, of JWW Realty Co. in
"The auction process is a good process," Watson said. "Think of all the celebrities who auction jewelry and cars. If you want to sell something and do it quickly, this is a way."
EVENT FACTS
What: Great Arizona Real Estate Auction
Who: National Real Estate Auction Corp.
When: 6 a.m. to 6 p.m., March 24
Where:
For more: Jay Taylor, National Real Estate Auction Corp., 480-991-4400 or jay@azpropertybid.com
Web: www.azpropertybid.com




