Chinese Come to U.S. for Auction Training

Better Understanding of Auction Process Needed

to Participate in U.S. Market

May 13, 2009 - /FLIERWIRE/-- Washington, DC, May 13, 2009 The Institute for Auction Learning, exclusive provider of the Certified Auction Specialist® (CAS) designation program, has signed a contract to provide auction training for 460 Chinese real estate agents & potential buyers of U.S. properties. The primary focus of this training will be to detail the process and raise the awareness so that the attendee is better equipped to participate in auctions nationwide. The first group will depart for the U.S. from Beijing in late May for training commencing on June 1st. The group will be accompanied by 92 Chinese translators that will assist in bridging the communication barrier throughout training. "We are excited to gain knowledge about auctions from U.S. experts. Our recent U.S. buying efforts have not been very successful because we lacked understanding of the auction process. We believe that this is the first of many groups that we will send to the U.S. for this training", said Huang Bo, Director of Zhongtou Development.

About The Trainer
The Certified Auction Specialist® (CAS) designation program, is available exclusively through The Institute For Auction Learning, and is taught by Ms. Gloria LYNN Gardner, past Chair of the Auction Forum for the National Association of Realtors and Chief Auctioneer for Gramercy Auctions, a leading provider of auction solutions to REO sellers nationwide. Gardner is recognized as the leading "pro-broker" auctioneer after co-founding the Auction Department for the largest independently owned real estate firm in the nation in 1994 and she is considered to be the leader in bridging the gap between traditional real estate brokerage and auction. Since 1994 Gardner has conducted over 4300 real estate auction transactions. "We are honored to have been sought out to provide this training service to these real estate buyers and agents from China. It is refreshing to see a direct approach to this market. While many U.S. real estate professionals are turning a blind eye to auctions, this group understands that knowledge is power and they are determined to become educated on the U.S. processes", said Gardner.

About Institute For Auction Learning
The Institute For Auction Learning was founded in 2005 and is based in Washington, DC but conducts training nationwide. "At the conclusion of this course the attendee will not be trained to conduct the auctions as an auctioneer. Instead, they will have broadened their horizons and are prepared to cooperate with the auction method on the buying and selling side of any real estate transaction," said Gardner. For more information please visit http://www.auctionlearning.net/


About Gramercy Auctions
Gramercy Auctions is a proven leader in delivering rapid and efficient closing to sellers of Real Estate Owned (REO) properties nationwide. Using its proprietary pricing model, the Gramercy Price Index (GPI™) and a unique marketing technology, the Target Marketing Algorithm (TMA™), Gramercy Auctions brings the right bidders to the auction maximizing the final hammer price. In addition, Gramercy’s focus on on-site auctions and superior back-end processing ensures greater certainty of closings in a faster time frame, improving value creation. For more information please visit www.gramercyauctions.com

SOURCE:
The Institute for Auction Learning
http://www.auctionlearning.net/


CONTACT:
The Institute for Auction Learning
1101 Pennsylvania Ave., NW
Washington, DC 20036
877 668 6131

Perception Becomes the Reality

I haven't spoken to an American in the past 6 months who can give a logical explanation about our current economic situation or a rational answer for the future moving forward. The biggest problem with this "dilemma" is that the fear of the unknown has put us all in a state of paralysis while the paralysis is creating the economic lock down. This "catch 22" will be read about in history books by our children and our grandchildren. A time in history where America hit a tipping point. A time when life changed overnight and suddenly our wallets are threatened and our toys are in jeopardy....almost overnight...a time of uncertainty that feeds on fear. The $64 question is...do we keep our heads buried in the sand or do we boldly confront our circumstances and make a difference moving forward that we can all be proud of?

"The pot calling the kettle black"

There has been enough finger pointing to last 3 generations. Democrats blaming Republicans...Presidents blaming Presidents...banks blaming real estate agents...real estate agents blaming appraisers. Now it's all the fault of Wall Street and ponsi schemes. I'm sure that we've heard every possible variation of blame imaginable . But we sure haven't blamed ourselves. In reality, it was through our insatiable desire to have bigger and better...more and more...that we threw caution to the wind and we pushed the economy right over the top all by ourselves. After all, where there is no demand there is no supply.

"I told you so"

We celebrated when friends and relatives were able to purchase real estate with no money down and no income to support the debt. Sadly, now that many of these same people are losing their homes, instead of jumping in with help and support, we don't miss an opportunity to let them know that we "knew they shouldn't have purchased the property" in the first place. Surely you aren't really saying that you knew that they would ultimately end up in bankruptcy and foreclosure but you let them go ahead anyway without saying a word?

"Perception Becomes The Reality"

SO here you are...reading a real estate blog and wondering what in the world any of this has to do with real estate. I believe that it has everything to do with real estate. There are still a lot more people out there that are solid financially than there are who aren't and there are millions of properties out there to be purchased. The market simply needs to reset itself and WE need to get back to business. The value WAS...the value IS...and the value ALWAYS will be determined by the market itself. Auctioneers have been proving that since before there were real estate licenses and we continue to bring ready, willing and able buyers today in spite of the current challenges. The real estate agents that have taken a long hard look at our economy and have been willing to adapt to the circumstances are very, very busy selling short-sale properties making incomes that exceed what they make when the market was "hot".

"When the going gets tough...the tough get going"

We need to get back down to basics. We need to roll up our sleeves and get back to the business of selling real estate. Einstein said that the definition of insanity is continuing to do the same thing over and over and expecting a different result. We need different results. This is a new world in real estate and it's time to get with the program. Auctions are thriving. Short sales are thriving. Are you thriving? Remember...when the going gets tough the tough get going.

Going...going...GONE

How To Select The "Right" Auctioneer for your Real Estate Business

As we continue to fight our way through this struggling economy more and more Realtors are reaching out for marketing options that will assist them in accelerating the sale process for their clients. As a result, we are frequently asked "how do I go about selecting an auctioneer"? This process should not be difficult for you, however there are a few key factors to seriously consider as you search for the "right" auctioneer for your business. Here are the top 12 considerations:

1. Chemistry. It is critical that you identify an auction professional that you feel comfortable working with AND that you trust completely. You will be embarking on unknown territory and you will be following the lead of your auction professional. TRUST is key to your success.
2. Expertise . You need to identify an auctioneer that has the EXPERTISE necessary to sell your listings. Although you may know someone who is very successful selling antiques, cars, household items, etc., don't expect them to naturally have what it takes to succeed in selling your real estate. Extensive real estate expertise is a must.
3. Experience. Don't be a guinea pig. Your clients won't be happy if they become your latest experiment. You need to identify an auction expert who has LOTS of EXPERIENCE. Someone fresh out of auction school is NOT prepared to sell your listings. It takes time to become a good auctioneer and it isn't as easy as it looks. Find a proven player.
4. Professionalism. Contrary to popular belief all auctioneers are not "cowboys". When in Rome...do as the Romans. If you live in Texas where cowboy boots and ten gallon hats are customary then that will work for you in your market. If not...find someone who fits your professional "profile". Your auctioneer will be a reflection of you.
5. Reputation. Don't believe everything you hear. Ask for references and FOLLOW UP with them to get a good idea of how your auctioneer interacts with clients and what the overall feelings are at the end of the day. You can't afford not to do your homework.
6. Credentials. Most states require auctioneers to hold a professional license. Inquire about licensing and confirm that your auctioneer is in good standing within your state. Most of the "top notch" auctioneers will also hold the CAI designation which is an advanced educational program offered through the National Auctioneers Association.
7. Availability. In order for this service to be blended into your core business, you will need to identify an auctioneer that will be reasonably available to you throughout the auction marketing process. Auctions are new to you and the process can be very hectic. You WILL have questions and need guidance. If your auctioneer isn't reasonably available to you then you might become unnecessarily uneasy about the process. Define your working relationship BEFORE you move forward.
8. Negotiate. I am amazed at how many real estate agents believe that they aren't compensated if their listing is taken over by an auctioneer. Although MANY auction firms will require that you delete your listing (for them to take over) and expect you accept a referral on the sale IT DOESN'T HAVE TO BE THAT WAY. I have managed over 4000 auction transactions and I have NEVER removed the agent or negated their listing fees. Look at your options and negotiate the transaction! It should be a win/win for all.
9. Style. Although the auctioneer will be in control of the auction promotion, it is a good idea to review some of their marketing materials before you make your decision. Keep in mind that auction promotion is VERY BOLD by design but it doesn't have to be unprofessional.
10. Timing . You will want to specifically address timing relative to your auction needs. A typical well-managed auction marketing program will take approximately 5-6 weeks from the time your seller signs up for the auction to the time you are at the block. Any auction campaign that is considerably shorter or much longer is reason to question. Make sure that your auction is a priority for the auctioneer and that they have time to accommodate your needs within a reasonable time frame (especially in this market).
11. Branding . Auctions are a great “added service” for your portfolio and although you will be working with a proven player, do not lose your identity as part of the process! If you are going to add this option into your business then you should be gaining recognition for doing so. Insist that your name and broker information is included in all advertising and ask that you be able to keep your sign in the yard when they add theirs.
12. Closing Process . It isn’t safe to assume anything. Determine who will escrow the deposits, who will be closing the transaction, what Title Company will be used, who will be tracking the transaction to closing, how forfeited deposits will be distributed, etc. These details need to be discussed before your first transaction. There could be great differences in the way the transactions are managed by your auctioneer and you need to know before you’re headed to closing.

Adding auction services to your core real estate business is a must in this market. To ignore this option is to walk away from business. Don't waste any more time contemplating the possibilities. Use this checklist as a guideline and get to work! Time is money in this market.

If we can be of assistance to you throughout the process feel free to email your questions to info@auctionlearning.net. Good luck!