Blake Garrett, CEO of AceableAgent , recently sat down with Laura Brady, Founder and CEO of Concierge Auctions , to find out how online auction platforms can serve as a valuable tool to real estate agents.
This 30-minute interview is packed with useful information for real estate agents and fun details about how Laura created Concierge Auctions and made it an “overnight, 10-year success”.
Laura’s background is in Dallas commercial real estate sales and Sarasota residential sales. She briefly talks about getting her real estate license back then, noting that, “if only Aceable was around, [getting licensed] would have been a lot easier and more fun!”
This written post covers some of the highlights, but the full interview is well worth a listen.
What is Concierge Auctions?
First, let’s learn a little more about Laura’s business, Concierge Auctions. As Laura describes it:
“We are a real estate technology company. We have a bidding platform and a marketplace where [...] buyers compete in an auction.” Concierge’s online marketplace facilitates sales and purchases of properties via live auction.
This model has proven especially effective in the luxury residential market. Ultra-luxury homes are extremely illiquid because the buyer pool is so small at the high price point. So the auction model increases competition and leads to a faster sale.
Cher (the one and only!) was one of Concierge’s early clients. In 2010, Cher’s custom-built Hawaii home sold via this online auction platform. Laura goes into fascinating detail in the interview, including details about Cher’s involvement in the process, and how she worked with Concierge Auctions to raise money for the victims of the 2010 Haitian earthquake.
How does Concierge Auctions help real estate agents?
At first glance, Concierge Auctions might sound like competition for real estate agents. But real estate agents are actually part of this process. Laura is very clear on this point: “We’re a tool for real estate agents; we’re not the competition.”
Concierge Auctions offers materials for real estate agents, so you can easily promote this online auction tool into your listing presentation for luxury properties (properties valued at over $1,000,000). You will likely be the only agent offering such innovative ideas to sell the home, and your potential sellers will remember you as the forward-thinking agent. Even if your sellers decide to list the property through the traditional process, you might just win the listing for thinking outside the box!
And if the home is slow to sell, you can remind your sellers of the auction option to accelerate the sale.
Why your sellers might want to sell via online auction
Laura explains that the biggest benefit of selling property via online auction is time. With Concierge Auctions’ worldwide platform, they can generate substantial buzz around a luxury property in 30-60 days. Estimates suggest that up to two years’ worth of buzz in the traditional real estate sale model is condensed into this 30-60 day period!
If your sellers need to be certain of a quick and easy sale for their luxury property, use Concierge Auctions as your tool to help the property sell.
Price is another key component of any real estate sale.
Sellers ideally suited for the auction format are willing to accept a price range rather than stick to a specific number. No one can pinpoint the exact sales price when a property is listed for auction. A common misconception is that properties sell under market value at auction, but Concierge Auctions has found that auctioned homes generally sell at market value. The ‘auction discount’ mindset is typically offset by the increased competition and the sense of urgency created in the auction environment.
Your sellers are in good hands with Concierge Auctions
Concierge Auctions is the first business of its kind in the online real estate auction space. And their reputation for excellence has seen fast and reliable growth. Concierge Auctions is now active in 15 different countries. They have been listed in Inc. Magazines’ list of the fastest growing companies for the past four years. And they recently broke two world records for the highest priced homes ever sold through auction!
In fact, making history is a key company value for Concierge Auctions. Not only does Laura want to blaze this new trail in the real estate industry, but she and her team want to make history with every sale. Highest value, greatest volume, most locations...Every employee at Concierge Auctions has the opportunity to break records and make history.
And that’s not all. Concierge Auctions is also giving back in big ways! In 2017, they launched a new giving program. For every home sold, they build a home for a family in need, partnering with Give Back Homes (which has an amazing program for real estate agents!). This partnership built 67 homes last year, starting with a community in Nicaragua, which has been completely transformed by the project.
Not only is Concierge Auctions doing well, but they’re also doing good.
Listen to the Interview for More…
The fast-paced audio interview goes into more detail about how Concierge Auctions can assist real estate agents in landing business and closing deals.
Blake also asks some fun and interesting questions to help you get to know Laura. Questions like...
- What’s one of your biggest professional mistakes?
- How would your twin daughters describe you?
- If there were 3 more hours in the day, how would you spend them?
- Who are the people you most respect in the real estate industry?
- What’s an absurd thing that you love?
- Who would you name to your personal advisory board if you could choose anyone?
Give it a listen. You’ll be glad you did!