Sounds like there were some great deals but no buyers. 36 people showed up. I wonder how much of the $200 million plus in real estate was sold. I have heard similar stories of these Auction events in some other cities not generating much sales despite the apparent number of "deals" to be had. Any thoughts from those in the business or wanting to be?
This just proves what I said. The auction will not work, $500 dollars was to big of a door fee. The article sites that Richard considers this a success, who is he fooling? I mean this was the worlds solution to all real estate problems... I will leave it at that!
I agree, the $500 fee to keep "spectators away" looked like it kept the buyers away too. In this market, you can look at this stuff all day long for FREE. My guess is they will rethink the fee for future events. Hard to figure out how he is quantifying success in this case since there were no hard numbers as to how much property was listed and sold.
