I have a Columbus Ohio auction listing right now that has an opening bid of $10,500. Over the past 2 days I have received over 15 calls asking "what is the lowest offer you will take" or "if I offer the minimum, where can I expect the counter to be at?"
Huh?
This is an auction listing. There is no list price and we reserve the right not to counter anything. I can't tell you what to offer. Figure out market value and make one based on your clients buying criteria.
If you want to make an offer, make one. If not, show up at the auction.
What is killing me are all of the agents that are pissed because we won't accept a pre-auction offer at the minimum bid WHEN WE HAVE 15 PEOPLE OFFERING THE MINIMUM.
If I have 15 people offering the same amount before the auction, there will be one of them that will offer a little more at the auction. Trust me. Play the Vegas odds on this.
Please people....If you want me to cancel the auction and take your offer, please offer something that makes me say OHHHHH.
Please ??!!??!!??!!
If you elect not to follow these very simple instructions, then the answer to your question is......
YES, YOU ARE WASTING YOUR TIME......MINE TOO.....
Do you have questions about distressed assets, receivership or bankruptcy sales, auctions? Email me at rfk@gryphonusa.com and I'll try to answer it in an upcoming post.
Richard F. Kruse is the President of Columbus, Ohio based Gryphon USA, Ltd. (www.gryphonusa.com). The Gryphon Organization includes Gryphon Asset Management providing receivership and consulting services in the distressed marketplace, United Country Gryphon Realty & Auction Group (www.ucohiorealty.com & www.ucohioauctions.com) providing real estate brokerage and auction services throughout Ohio and OnlineAuctionUSA.com (www.onlineauctionusa.com) providing commercial asset liquidations from the Midwest to East Coast.
United Country Gryphon Realty & Auction Career Opportunities Available. Call 614-885-0020 x 17
I'd be ready to strangle them. I just got irritated FOR you!
You would think they could have figured that out on their own. Let us know how it ends.
Fran
While there's no fix for stupid, the cure for dealing with it's usually found in a bottle of Jack. Happy Firday!
Rich,
I constantly provide information for people who are looking to buy a "foreclosure" property and the #1 question is: Is that the price? referring to a house worth 300K in default for 100K, of course I say no and then proceed to explain how that works. Sometimes it gets old when people ask the same questions specially because it makes no sense, only the lot where the house is would be worth at least 80K and the house is almost brand new. But I guess all this comes with the territory. By the way that is a very creative picture =)