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Rainmaker
2,642,312
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

I looked into this in a way and was told by CAR legal hotline it is dicey

Jun 22, 2016 11:09 PM
Ambassador
5,414,363
Bob Crane
Woodland Management Service / Woodland Real Estate, EXP - Stevens Point, WI
Forestland Experts! 715-204-9671

You will need an auctioneer.

I have bought a few at auctions, and passed on a few others.

Sometimes a property will go really cheap and other times people get auction fever and bid far beyond their common sense.

Jun 22, 2016 08:06 PM
Ambassador
2,571,547
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

For the raffle, lawyer up.  

For auctions, check with your State license board to see if your license covers it (be sure to comply with NAR COE if you don't have experience in auctioning property).

Jun 22, 2016 11:43 AM
Rainmaker
1,154,075
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

Suggest you call companies like auction.com or Hudson and Marshall. I am not sure any real estate attornies know ins and outs.

Jun 22, 2016 10:02 AM
Rainmaker
1,459,827
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

John DL Arendsen I once worked for a broker who wanted to raffle off a home. It became a big hassle to meet all the legal requirements. He did not do it after all. As far as auctions go, the auction houses I've worked with required substantial upfront money by the seller. The sellers did not want to go through with the additional expense. Additionally, the auction houses in my area don't want to pay very high agent fees. I have a friend locally with Tranzon Fox who is very good to work with here.

Jun 23, 2016 12:21 AM
Rainmaker
5,591,778
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

John,

There are many excellent companies out there that can answer your questions.  A

Jun 22, 2016 11:33 PM
Rainmaker
3,331,943
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

In NH to raffle a home you have to register with the State of NH. To auction it, just hire an auctioneer. 

Jun 22, 2016 10:54 PM
Rainmaker
3,069,984
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

parked and reading

Jun 22, 2016 10:01 PM
Rainmaker
5,571,934
Barbara Todaro
RE/MAX Executive Realty - Retired - Franklin, MA
Previously Affiliated with The Todaro Team

rarely happens here.....

Jun 22, 2016 10:01 PM
Rainmaker
1,157,485
FN LN
Toronto, ON

An extremely small number of agents in my jurisdiction have tried to auction a home.  It seems that they get quite a bit of press.

Jun 22, 2016 09:43 PM
Rainmaker
920,173
Jennifer Mackay
Counts Real Estate Group, Inc. - Panama City, FL
Your Bay County Florida Realtor 850.774.6582

Lots of excperience with auctions - not sure what you are asking though

Jun 22, 2016 08:39 PM
Rainmaker
634,282
Kathleen Luiten
Resort and Second-Home Specialist - Princeville, HI
Kauai Luxury Ocean Home Sales

We use an auction company here.

Jun 22, 2016 06:00 PM
Ambassador
4,312,759
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

John DL Arendsen - I have been to one of the auctions - to me it looked like someone already knew what to bid!

Jun 22, 2016 03:54 PM
Ambassador
1,771,430
Noah Seidenberg
Coldwell Banker - Evanston, IL
Chicagoland and Suburbs (800) 858-7917

A bit. Set your limits before hand and do not over bid.

Jun 22, 2016 02:11 PM
Ambassador
3,986,710
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

I have referred many homes ot be auctioned to our company auctioneer. He advertising and does good marekting and charges a higher fee to cover all the costs. Most of his sales are absolute.

Jun 22, 2016 12:44 PM
Rainmaker
1,525,305
Sybil Campbell
Fernandina Beach, FL
Referral Agent Amelia Island Florida

I've never done that, sorry!

Jun 22, 2016 11:35 AM
Rainmaker
2,442,558
Evelyn Johnston
Friends & Neighbors Real Estate - Elkhart, IN
The People You Know, Like and Trust!

I have done several "Sold in a Week" Open Houses and taken offers then contacted them individually to bump up their offers.  I have sold homes this way.

Jun 22, 2016 11:24 AM
Rainer
212,250
Kristen Correa, Broker
Kristen Correa Real Estate & Reedy Creek Realty Services - Keller, TX
I love coffee & real estate. I am out of coffee!

Hi John, like others, I have never listed using a raffle or auction, but I have purchased from one.

Tx does have new laws on it (who can conduct auctions) so the answer to this question is certainly regional-local.

A lot of times here in DFW they are also listed in MLS simultaneously to the auction or raffle.

And as far as legal and logistics (I did read through an auction service contract once when I thought about serving as a broker for one) it appears your liability would be a lot like handling relo. They handle the rest. I am not sure (if a consumer asked me to) I would consider the raffle or auxn method at all on my own without a pro even if Tx laws were leniant about it.

Jun 22, 2016 11:13 AM
Rainmaker
1,231,599
Mary Yonkers
Alan Kells School of Real Estate/Howard Hanna Real Estate - Erie, PA
Erie/PA Real Estate Instructor

No personal experience as an agent or bidder, but we have attended auctions including one in our own neighborhood.

Jun 22, 2016 11:01 AM
Rainmaker
1,738,623
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Property Manager

No experience with such but have been fascinaated with the raffle approach but there are lots of legalities, logistics and pitfalls.  

Jun 22, 2016 10:48 AM
Rainmaker
1,387,828
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Never been on the seller side, although multiple offer situations kinda feel like an auction. 

The comments I've seen so far about the named auction houses and CAR hotline seem to me to be spot on.

 

Seems odd to me to see an auction on a house that's not in foreclosure, since I'm so used to that type of auction.

Jun 23, 2016 09:31 AM
Rainmaker
4,799,501
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

In Florida, to auction a home, one must have a licensed auctioneer.

Jun 23, 2016 04:11 AM
Rainmaker
4,103,608
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

No.  Interesting question though.

Jun 23, 2016 02:02 AM
Rainmaker
822,252
Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

Have seen auctions of foreclosures, but have not been involved in doing so. You are right to explore legal issues, best to be cautious. 

Jun 22, 2016 11:40 PM
Rainmaker
1,405,029
Raymond E. Camp
Ontario, NY
Licensed Real Estate Salesperson Greater Rochester

Here it would have to be referred out and they could go high or low!

Jun 22, 2016 10:54 PM
Rainmaker
4,123,116
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Sorry... no help to you here. It's not something we see a lot of in our market.

Jun 22, 2016 09:39 PM
Rainmaker
4,433,703
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

no

Jun 22, 2016 09:09 PM
Rainmaker
6,613,594
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Follow the rules in your state. 

Jun 22, 2016 08:41 PM
Rainmaker
1,991,558
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

can't help you! 

Jun 22, 2016 11:47 AM