(EMAILWIRE.COM, June 27, 2006 ) Beloit, WI -- It can be someone whose parents have passed away, leaving an estate. It might be a job seeker who needs to move across the country. Or it's a couple that found their dream home.

Sellers have many reasons for contacting Beloit Auction and Realty Inc., but the results are the same - homes sold at a high price in a short amount of time.

“Auction means action,” said Bill Perkins, vice president of operations for Beloit Auction and Realty Inc.

The guaranteed 60-day turnaround - 30 days to auction and 30 days to close - is one reason people are clamoring to unload their real estate on the auction block. Real estate sales now account for more than 50 percent of items auctioned off through the auction service at 534 W. Grand Ave., according to Rich Ranft, president of Beloit Auction and Realty Inc.


In March, Ranft merged his auction business with Avalon Auction Center, 8727 E. Avalon Road, to help sell the auction business's hottest new item, real estate. Within the next few years, more homes will be sold in auctions, according to the National Auctioneers Association.

In 2005, residential real estate sold at auctions grew 8.4 percent nationally. It was followed by land and agricultural real estate, which grew 7 percent and commercial and industrial real estate which grew 4.9 percent.

Beloit Auction and Realty sold close to 100 homes last year. Although Ranft wouldn't say how much money he's making, he admits it's a lot. And he understands why.

“We can offer so much. We can offer a total sale. We can walk into your house, sell everything and have it all wrapped up in one neat ball,” Ranft said.

The process is simple. Once contacted, Ranft and Perkins will visit a home and discuss with the owner how much he or she is likely to get for the property at auction. If the owner agrees, Ranft will get the auction ball rolling. If the house has contents inside, the auction service will tote them out, clean up the mess and auction off the items.

It's 60 days to collect the cash. During the first 30 days, the auction service wages an aggressive marketing campaign including newspaper ads, color packed brochures and the service's trademark bulky yard signs.

“Auctioneers are the best marketers. They have a little window of opportunity to sell what they have,” Perkins said.

That finite time limit seems to be what draws in the buyers. The psychological aspect of knowing the object of one's desire can't wait often spurs one to action. During the 30 days to auction, Ranft capitalizes on this concept. He holds just two “previews,” similar to an open house for only one hour at a time.

On the 30th day the auction is held. The people who come are ready to bid and buy without contingencies. Anywhere from $1,000 to $10,000 down is required.

The Osborn estate auction is one example of how quickly the auctions play out. Dan Osborn Jr. of Delavan had wanted to sell household goods from his parents' estate at 2158 Riverside Drive, Beloit. After hearing Ranft could also sell the house, Osborn agreed to an auction held last Saturday.

Within 45 minutes, two homes sitting on the property and an attached vacant lot were sold. During the auction, bids also were posted in real time on the Internet.

“We sold it right on the back yard. We even had boats pull up on the shore,” Ranft said.

Dan Stauffacher of Beloit was glad to auction off his parents' home and relieved to have someone to turn to when his mother needed to move out of her home into assisted living. As an only child, Stauffacher didn't know how he was going to get rid of all the extra items his mother didn't need.

“Ranft said he would auction off everything he could and then get rid of the stuff he couldn't,” Stauffacher said. “It was like one-stop shopping.”

The speedy sale was just what Stauffacher needed. He didn't want to deal with the costs of fixing the old house and the inconvenience of having to check on it until it was sold.

“It just seemed like the thing to do,” Stauffacher said.

Beloiter Nancy Gavney was tired of being a landlord for one of her rental properties when she considered selling at auction.

“Within 60 days it was all finished and the paperwork was done,” Gavney said. “ I didn't think I would get as much out of it as I did.”

Written by Hillary Wundrow, staff writer for the Daily News, Beloit, Wisc.


Contact:
Beloit Auction Service, Inc.
Rich Ranft
Tel: 877-364-1965
http://www.beloitauction.com

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Published by ASMarketingcenter.com a division of www.AuctionServices.com and
www.NationalAuctionList.com

Contact Information:
Beloit Auction Service, Inc.
Rich Ranft
Tel:
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