REAL ESTATE FOCUS
Despite a slump in sales of new and existing homes in 2007, revenues from residential real estate sold at live auction
grew a solid 5.3% from 2006, and 46.6% since 2003. What might account for this performance?
One explanation might be the greater acceptance of the auction method of marketing among homeowners, buyers,
institutions, and real estate professionals. Public recognition of the benefits and successful results of live auctions should
bring even greater growth to this sector as the housing market recovers.
As the sale of real estate through live auction has increased, real estate agents have discovered the opportunity that
live auctions provide for quicker turnaround of property. Finally, Auctioneers' interest in marketing real estate has
accelerated, particularly using multi-tract sales to increase a property's value.
SNAPSHOT ON CHARITY AUCTIONS
Charity auctions are the fourth-fastest growing specialty segment within the auction industry. Estimated gross sales revenue
increased to $16.2 billion in 2007, a 4.1% increase from 2006. Since 2003, total growth of this auction segment has
climbed 21.1%. Approximately two-thirds of NAA members conducted one or more charity auctions in 2007.
Non-profit organizations realize that using a professional Auctioneer for fund-raisers can raise more money, provide
greater entertainment, and protect the organization from problems and legal liabilities compared to a non-professional.
(Source: The National Auctioneers Association)
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