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Updated almost 9 years ago on . Most recent reply

User Stats

12
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0
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Carrie Lee
  • Lender
  • West Chester, OH
0
Votes |
12
Posts

Looking for great auction bidder

Carrie Lee
  • Lender
  • West Chester, OH
Posted

Hi, I am located in Cincinnati Ohio. I have a team of professionals that I am working with. With the projects we are running now, we are looking for honest and reasonable people with remodeling experience that can help us inspect properties and go to Auction for us. We focus on several prime areas in Cincinnati. 

Look forward to recommendations from the community. 

Most Popular Reply

User Stats

256
Posts
188
Votes
Victor N.
  • Investor
  • Wellington, KS
188
Votes |
256
Posts
Victor N.
  • Investor
  • Wellington, KS
Replied

I do not have direct experience with what you are proposing so take this thought for what it's worth.  I am an active auction buyer and seller.  I think your proposed payment structure of 3% of the purchase price creates the wrong incentive for your business.  The auction buyer only gets paid if he/she buys and gets paid more if you buy at a higher price.  How about a fixed fee per auction plus mileage and a percentage of the profit when you sell.  That would seem to cover the issue of covering a buyer's time and expense when the best business decision is not to buy because the bidding went to high and to incentives the buyers to bid to pick up profitable deals.

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