Real estate auctions in Carolinas and Virginia result in complete sellout

Jul 24, 2015, 14:25 ET from John Dixon & Associates

ATLANTA, July 24, 2015 /PRNewswire/ -- Two auctions of bank-owned real estate in South Carolina, North Carolina and Virginia resulted in the sale of all the properties for $1.2 million. John Dixon & Associates marketed the properties and conducted the auctions.

"This was one of our smaller groups of properties, and a lot of them were unimproved commercial and residential lots, but the important thing is we got everything sold and had a seller who was pleased with the results," said John Dixon, president of the auction company.

The auction company's practice of combining live and simulcast auctions was a key to the success, according to Dixon.

"There's a lot of conversation in the industry about the merits of live and online auctions. We only had four properties to sell in our Virginia event on July 23, and some auction companies might be reluctant to hold a live auction for those. But we find that the live auction brings an energy to the sale that comes across both in the room and on the streamed video, and that gives us the best of both worlds," said Dixon.

"About one-third of the real estate over these two days sold to online bidders, and just as importantly, the online participation created competition that led to higher bids from live bidders as well," he said.

The company now turns its sights toward a series of upcoming auctions, including two Multi-Seller Auctions August 4-5 in Atlanta, and a pair of auctions in Tampa and Chicago for a private equity firm. Details of those and other events are available at or by calling 800-479-1763.

John Dixon & Associates, based in Atlanta with offices in Tennessee, Florida, North Carolina and South Carolina, is one of the nation's largest auctioneers of real estate properties, including land, homes, developments, condominiums, farms and other properties owned by individuals, investors, banks and other institutions.

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

SOURCE John Dixon & Associates