More Realtors use auctions in transitional real estate market

A forum at the 2006 Realtors Conference & Expo in November in New Orleans addressed the use of auctions to sell homes in the current housing market.

“Many Realtors increasingly work in a full-service environment that may offer insurance, title and property management along with brokerage services,” said NAR President Thomas M. Stevens, in a news release. “Auctions can be a part of an array of services Realtors offer to their customers and should not be seen as competition to the existing range of services provided by a traditional brokerage.”

Ben Anderson, chairman of the NAR Auctions Committee, added that auctions provide a fair and speedy method of selling or buying homes.

“For homes that take a long time to sell, using auctions creates a sense of urgency about the property, often helping to sell a property before it goes to auction,” he added.