Crazy Sh*t In Real Estate with Leigh Brown - Episode #59 with Ray Wood

Today’s episode discusses one crazy way of doing real estate that
could help sellers get TOP DOLLAR for their home when it comes to
crazy bidding wars—auctions. What better way to motivate buyers
than to have them compete, in-person, with other interested
candidates! Leigh chats with Ray Wood, an experienced auctioneer
in real estate. Tune is as they talk about both the barriers and
benefits of auctioning your home. 


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Brown Experience. 
Time Stamped Show Notes:

00:28 – Introduction for today’s episode

00:42 – Leigh welcomes Ray Wood

00:56 – Ray is a partner at Best Agents and Locked On

01:48 – Ray is a fourth generation, real estate agent and it
was his Dad who got him into the industry

02:26 – A lot of property is auctioned in Australia and Ray
got his start by auctioning different items from the back of a
truck

03:45 – Buying a property is an emotional decision

04:23 – An auction is a transparent environment where the
buyers can see who else wants the property and this makes them
want it more

05:48 – Ray shares how there are instances in the Toronto
market where 30 or more people make an offer on the same property

06:27 – By conducting an auction, you’ll easily be
getting top dollar for your home as opposed to looking at all
offers individually



06:58 – Consumers in the US and Canada are typically against
auctions

07:05 – Consumers must be educated about how auctions can
be productive

07:48 – An auction starts at a base amount as opposed to
starting at a high amount

08:50 – Auctions in North America are still stigmatized
because agents and sellers do not know how they work

09:31 – Agents should help the sellers understand the
science of how it works



10:16 – An open time in Australia is 45 minutes

11:22 – Ray is big on establishing a relationship with an
agent

12:07 – Ray wrote a book: How to Sell Your Home for More

12:32 – Leigh asks Ray where people can find auction
specialists and Ray has no idea

13:05 – Ray says agents have a moral obligation to sellers to
produce the best result—if people are hesitant about the
procedure of an auction, it’s probably not considered the best
option

13:50 – Leigh thinks auctioning could possibly be the answer
for the current real estate problem in Charlotte as there are
multiple buyers bidding for one property

14:27 – Ray says not everybody has the ability to educate
sellers and buyers

14:55 – Harcourt’s work in California might be a good
indication of the future of auctions

15:26 – Consumers do want innovation

16:05 – Locked On is a CRM and a cloud-based software that
helps you communicate with your clients

17:07 – Contact Ray at his email and check out his podcast

17:43 – Tweet Leigh Brown for your very own crazy story in
real estate 

3 Key Points Auctions can be valuable for both buyers and
sellers—especially when it comes to having multiple, competing
offers. There is a need to educate consumers about how to do
auctions for real estate. Agents have to put the best interest of
their clients, first and foremost. Credits

Audio Production by Chris Mottram

Show Notes provided by Mallard Creatives

Cover Design by Two Minds Design

Original Music by Rimsky Music