On a sunny afternoon in Florida, an energetic crowd gathers on the lawn of a high end luxury estate. A loud and eager banter between an auctioneer, a group of bidders and bidder assistants fills the air. For several minutes the auctioneer asks for the next highest bid and the bidders respond. Suddenly the bidders grow silent. The high bidder holds his breath in anticipation of winning the auction. The auctioneer calls for one more bid. In a loud clear voice which rolls over the audience he says, “Fair warning, last chance” the auctioneer pauses, “SOLD!” And in less than 10 minutes another multimillion dollar estate has changed owners.

Successful real estate auctions like the one above are happening all over North America and the Caribbean. Recently real estate auctions have been on the rise, the increase in popularity is partly driven by growing inventories and fading buyer confidence. Properties that were selling in weeks using traditional methods are now languishing on the market unable to attract buyers even as seller’s lower prices. Many say the real estate boom is over but savvy buyers and sellers are profiting from real estate auctions.

Real Estate Auctions Work in Up or Down Markets.

Regardless of trends or market cycles, real estate auctions provide an open and transparent process for buyers and sellers. Properly conducted real estate auctions attract ready and willing buyers and motivate them to act now.

The auction method removes the “wait and see” attitude which serves to further depress real estate values. Buyers are always concerned about overpaying. Buyers gain confidence with their purchases at real estate auctions because they can see what others are willing to pay.

When market demand is high and inventories low, real estate auctions can deliver selling prices well above what a willing seller would have accepted in a negotiated private treaty sale. In good selling climates many property owners using traditional real estate methods; negotiating with one buyer at a time, leave thousands of dollars of equity on the table. During up markets real estate auctions are the best way to establish top market price.

Evaluating Your Real Estate for Auction

Not every property or seller for that matter makes a good candidate for auction. First of all sellers must be ready to sell now and for the current market value. Also a real estate auction will not fix problems caused by a downturn in market value of your property, if you owe more than a willing buyer will pay, be prepared to come to closing with your check book.

Properties that do well in real estate auctions have a high uniqueness factor. Ask your self, “What makes my property different from most others?” Maybe you own a resort property or high end luxury home, commercial properties and land do very well at auction. Real estate auctions thrive on uniqueness. If your property is like everyone else’s, the best thing you can do is offer the most competitive price.

Most importantly sellers must be reasonable about setting a minimum bid. A seller must look at the lowest, most current comps and price below that to generate the interest and urgency necessary for a successful real estate auction. Once the auction begins and qualified bidders start competing against one another you can watch the selling price increase.

Locate a Qualified Real Estate Auctioneer

Start by checking with the National Auctioneers Association, the best real estate auctioneers belong to this organization. These real estate auctioneers are well trained and adhere to a standard of practice and a code of ethics. Many attend the annual International Auctioneers Conference where the latest techniques and innovations in the real estate auction industry are presented.

Find out if the company you are interviewing is a full time real estate auction firm. Many real estate agents are getting auction licenses yet have no experience with the auction method of marketing. Conducting a successful real estate auction is nothing like (private treaty) traditional real estate sales. Go with a real estate auction pro.

You’re probably better of with an auction house that specializes in real estate auctions. There are many qualified auctioneers who have generations of experience selling personal property; furniture, dishes, lawn equipment and the occasional rare painting. Selling real estate at auction is a complex matter that should only be attempted by full time experienced real estate auction professionals.

Commissions and fees may vary, sellers must pay all marketing expenses up front and buyers typically pay 10% of the sales price to the auctioneer of which a share goes to participating real estate agents.

Types of Real Estate Auctions

Auctions are effective because they create a seller’s market. Professionally conducted real estate auctions create urgency, a reason to buy today and competition for the property. Terms and conditions of sale are established ahead of the auction. Real estate auctions will follow one of these three approaches:

Absolute Auction

The property is sold to the highest bidder regardless of price- using this process often returns the highest sale price.

Minimum Bid Auction

Seller agrees to sell at or above a published minimum bid price – this method is useful for internet auctions.

Seller Confirmation or Reserve Auction

With a reserve auction, the seller “reserves” the right to accept or decline any bids usually within 48 hours of the auction. Reserve auctions are used when there is a lien on the property from a lender or a court ordered sale with a minimum selling price.

If you’ve ever thought about working from home then there are many different home based business ideas available to you out there but it can be a little scary to make that jump; the intention of this article is to take your mindset to the right place to allow you to explore this possibility.First of all let’s touch on the different types of home based business ideas that are available to you. Essentially they fit into 7 unique categories each based around a different way of making money so let’s list them out here:1. Advertising
2. Services
3. Subscriptions
4. Products
5. Commissions
6. Licensing
7. Being a BankWhichever of the home based business ideas you decide to go with it will be fundamentally based on one of the above models but in this article I just want to cover the most common one linked with home based business ideas and that is services.Home Based Business ServicesIn most of our lives we offer a service to someone and in exchange they pay us money to do so. We tend to refer to this as work and unfortunately it’s usually something we don’t like doing so how do you break the cycle and take back control of your life?Well one of the more common ways nowadays is to start your own services business from home. This can be a life changing moment because suddenly you start to see your ‘work’ not as work at all but something you bounce out of bed for with a smile on your face, imagine that. The first thing to do however is to decide which of all those different home based business ideas would be your calling and start to create a plan, a road map if you like to get you there. The following is just a small list of the many varied home based business ideas you could look at:1. Teaching from home (piano, academic, whatever your passion)
2. Web design
3. Writing articles for Internet marketers
4. Updating various social media for online marketers
5. Transcribing audio
6. Translation services
7. Scoring / editing films or shows (very achievable from home believe it or not)
8. Coaching (Skype is becoming ever more popular and gives you global potential)
9. Cooking (you can setup your own home cooking business)
10. Home nursery / child careNow think what you really love doing and before long you will find the idea that is right for you. I can’t help you with your decision but I certainly can and will help you plan your journey.Getting Started-Making That Leap Of FaithOne of the hardest parts of any journey is the beginning and you are bound to have worries and concerns about making the change. Let’s be frank here, you are probably going to leave a stable (albeit boring) job working for someone else and become in control of your own destiny. This means leaving behind security and walking into the unknown. Now this can be a scary experience but it’s also exciting and that should be your focus. The key to making the right start is to focus on the reasons why you are changing. Never lose sight of the goal, your ‘why’, as this will be the fuel for your vehicle throughout.Procrastination Is The Lock, Daily Action Is The KeyEinstein once said that the 8th wonder of the world was compound interest and although he was referring to money the exact same concept applies to time. The key to unlock your procrastination door is daily action and this works for home based business ideas just the same as for money. By doing a little every single day your business is going to soar but there are two caveats here. Firstly you need to take action EVERY day without exception, don’t miss even one single day. Make it a habit and you will slowly join the ranks of the highly effective people out there. Secondly, you need to be constantly reviewing, evaluating and then redrafting your goals and targets. The reason for this is twofold. Firstly it’s very easy to ease off the gas when you approach your target, a lot of us have trouble achieving closure on them and so by constantly pushing those targets forward you are always challenging yourself so that you never get complacent. Secondly, it helps you keep a regular track on your reason for doing what you’re doing, your ‘why’ as we called it before. This will stop you having your head in the sand and allow every day to feel fresh and new.

Have you ever compared the differences between a home based business vs a work at home job?

There are some major differences between having a home business and work from home, compared to having a job that allows you to work at home. Your home is the central hub of all the operations involving a home based business, while a work from home job means your daily work is based in your home but is just a part of a outside business. Most work at home jobs involve checking or reporting to an employer, and you are working on as a freelancer or telecommuter status. Some freelancers, however, will have a home based business and they deal with clients instead of an employer. There are definitely advantages and disadvantages to both kinds of these businesses.

When you are your own boss, you don’t receive a W-2 at the end of the year, so you’re responsible for taking care of your taxes. You would deal directly with the IRS concerning your sales and income. For people who are working from home, you’ll be receiving a W-2 at year’s end from your employer, who will also send a report to the IRS. When you’ve attained a specific level of sales as a freelance worker, the employer is responsible for reporting that amount.

Needless to say, there are no health care or unemployment insurance benefits, and worker’s compensation is not available to home based businesses. Partner discounts for the purchase of benefits are available from several insurance companies, but when you are the owner of a home based business you pay for them yourself. People who telecommute and work from home might have access to benefits, but if you are a freelancer you must get your own.

The benefits of both kinds of working at home jobs is the freedom in project choice, flexible time schedule, and the added comforts of your own home. Since you are an employee when you work from home there could be some limitations from the employer. The best thing about is being at home it offers you a lot more freedom and flexibility than an office does. However, a of people who own a home business, or home workers, will discover this kind of freedom can be a double-edged sword. In your own environment it can be easy to pick up a book, put on movie, or find some other activity you enjoy. If you add procrastination to the other possible distractions, you will soon find you’re missing deadlines and producing sloppy work. If you want to be your own boss and work a home business, you need to see if you have the self-discipline it requires.

Most of the time the money you make from a home based business results from sales of a products or services. There are some out there, however, that your earnings are based totally on the number of people you can recruit into the business. These kinds of business are referred to as pyramid scams, and your success is directly connected to how many other people you recruit in under you. As each new recruit buys in, you are pushed higher up the payment ladder. In scams like these, your own products sales are usually not very important.

However, there are a lot of home based businesses that you can start on your own and be your own boss. Besides a marketing company, there’s a portrait studio or a gardening center that would let you be your own boss. It doesn’t matter what type of business you choose to open, to be your own boss you have one that keeps all the operations with in your own home.

Be sure and do your homework before deciding which kind of work you want to do – ask a lot of questions and get a feel for the work itself before you make a commitment. Today the really successful home based business owners are people who might have purchased a product and loved it so much they wanted to share it with others. However, those who want to be their own boss, and work from home, are really happy with their business in their home.

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