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About Us

Our Goal at RERC is to bring Real Estate buyers and Sellers together by creating the best possible arena to buy and sell all types of properties. We speed up the time frame of selling properties and achieve the actual market value for the properties through the public auction process. Our team of Real Estate and Auction professionals have a combined experience of over 100 years. This means you can expect the best auction marketing program possible and the best service in the industry.

At RERC, we conduct auctions all over the United States. On the selling side, RERC helps Home owners, Estate Executors, Builders, Developers, REO Managers, Loss Mitigation specialists, and others.
On the buying side, we offer first time home buyers, first time investors, as well as highly experienced Real Estate investors the opportunity to take advantage of the deals at our auctions. At RERC we use only the best, most experienced real estate auctioneers and agents around the country who are fully licensed and bonded.

If you have properties to sell, we would like to speak to you about how we can develop a customized and immediate sales campaign that’s right for you. Please E-mail us at [email protected] and our Director of Sales and Marketing will personally call you.

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Sellers are able to shorten their time frame of selling, maximize their recoveries, and liquidate their assets quickly and at a much lower cost.

A RECOVERING MARKET MEANS BETTER OPPORTUNITIES FOR BOTH BUYERS AND SELLERS

Overall in the past 5 years, the number of listings has risen dramatically nationwide. All across the country, three or four times as many sellers are trying to attract the shrinking number of purchasers that are out there.

Real estate auctions listings produce their most impact during their first 25 – 35 days on the open market. Therefore, the biggest challenge for sellers is standing out during the first month and attracting as many buyers as possible.

With an RERC auction, a property goes through an intense advertising campaign that saturates the market and positions properties into the global arena. The auction takes place at the end of the advertising campaign when interest has grown to its height.

In some cases properties have been listed the conventional way for months or even years on the market and have not sold. What do you do? Auctions can absolutely renew interest and excitement for that property. One of our clients, Abe G. of Virginia, found that true when he used RERC to sell his luxury home. After having watched his home languish on the market for over 2 years, Abe told us, “it was a miracle to go from the auction day to closing in only 3 weeks.”

TOO MANY OPTIONS FOR BUYERS MEANS AUCTIONS ARE THE BETTER CHOICE

During this phase of the economy and real estate cycle it is a buyers market in which the buyers have a plethora of options and opportunities, but with that comes more work for buyers. Obtaining due diligence for each property and doing the research can take an enormous amount of time. Also, there is no guarantee when properties are under contract they will close. So many buyers waste their valuable time tracking properties with no idea if they should continue or look for others.

Registering is easy and can be done in person, online, or over the phone. With auctions, buyers can attend with the work practically already done for them. They have access to appraisals, inspection reports, surveys and tax records before the auction, helping them make an informed decision. Auctions are usually held on the weekends and all sales are final. Buyers bring a cashiers check with them to the auction and sign the purchase contract onsite if they are the winning bidder. It is important that buyers get pre-qualified for financing before they get to the auction. Closing takes place within 30 days of auction day with no contingencies. It’s a simple process for the buyers and sellers.

There are plenty of buyers out there if you know how to reach them. This is what we do best. It is also the best time for buyers to purchase because interest rates are at historical lows. Many properties can be purchased for a fraction of their previous values. Also, more people are buying at auctions if you can help them arrange financing before the auction which we also do. It is more convenient for both buyers and sellers to participate in the auction method of marketing vs. conventional means due to the time, energy, and cost savings.

HOW MUCH DO YOU ASK FOR YOUR PROPERTY IN A RECOVERING MARKET?

Determining a price for smaller properties is not difficult however luxury real estate has always been a challenge because each property has its own unique attributes.
During the housing recovery, many could very easily list at 10% – 15% above the sold price of a similar house on the same street.

Listing homes higher by 10% or 15% in this market could result in these homes being completely overlooked. This is because many buyers use real estate Web sites to compare properties and narrow down their searches by price category. If the property is not priced correctly it could completely miss it’s target market.

Listing homes too low can backfire on sellers as well. Some brokers advise pricing a property in the bottom 20%-30% of comparable homes. However, in a time where other sellers, as well as investors, can immediately see your listing and change theirs, this strategy will send prices even lower.

At an auction, the bidding determines the pricing, which determines the market. So pricing mistakes are not a point of contention. Jerry B. of Virginia owned a custom-built home with no real comparables and was willing to take less than the appraised value. Instead of listing, he auctioned with RERC. The result as Jerry states “We were shocked when we got two offers bid on the house for $2,650,000 obtained at the RERC auction when we had virtually no serious offers for over 3 years prior to the auction”.

WHY MORE LENDERS AND REO MANAGERS ARE CHOOSING TO SELL BY PUBLIC AUCTION

In today’s market, financial institutions can sell large numbers of properties to a huge pool of buyers under one roof at one time. We do all of the marketing for them. These sellers are able to shorten their time frame of selling, maximize their recoveries, and liquidate their assets quickly and at a much lower cost. This is of great benefit and value to banks, lenders, and mortgage companies who are experiencing large volumes of foreclosures.