Popularity of auctions calls for more education, says auctioneer John Dixon

May 14, 2014, 14:31 ET from John Dixon & Associates

ATLANTA, May 14, 2014 /PRNewswire/ -- As real estate auctions gain in popularity, more property owners are considering the auction method for selling their own property. That's why auctioneer John Dixon and others on the John Dixon & Associates staff are ramping up efforts to explain the basics and options.

One such step was a recent webinar aimed at property owners, brokers and others exploring the use of auctions for residential and commercial real estate.

"There was a time when you could go a year without hearing about an auction. Now you can't go a day," said John Dixon, president of John Dixon & Associates. "But hearing about it and really understanding how to use an auction are two different things. We want people to understand when an auction is a good choice and when it may not be. We're also seeking to help people sort through the various methods and technologies available today," he said.

"Auctions are especially useful for sellers who need to sell in a short time frame," Dixon said. "This doesn't mean they're in financial trouble. They may simply wish to get out from under the load of taxes or maintenance. It can be part of a breakup of a partnership or marriage. They may have purchased another property. A broker may have a listing about to expire," said Dixon. For such sellers – or the brokers representing them – an auction offers numerous advantages, including a  contingency-free sale on a date that is certain.

Properties with high equity are good auction candidates, especially if a property is unique and likely to attract competing bidders.

Drew Dixon, head of auction operations for the company, addressed some of the more popular ways of conducting auctions, including live auctions, simulcast (live with Internet participants watching and bidding online), Internet only and sealed bid. Internet bidders, he said, have been purchasing up to 40 percent of properties in recent John Dixon simulcast auctions.

John Dixon & Associates, based in Atlanta with offices in Tennessee, Florida and North Carolina, is one of the nation's largest auctioneers of institutional real estate properties nationwide. Individuals seeking additional information may visit www.johndixon.com or call 770-425-1141.

For more information:
Carl Carter, 205-823-3273

SOURCE John Dixon & Associates