Published Stillwater NewsPress: March 15, 2008 09:42 pm
Gregg Pickens: Auctions efficient way to sell land
Dale Himes – NewsPress
Selling property — houses, farms, raw land — through auctions is proving to be the most effective way, auctioneer Greg Pickens says.
He owns Pickens Real Estate/Auctions, 619 S. Lewis in Stillwater.
“This is not just a local trend but a national trend,” Pickens said. “The auction method has been in place basically since time began. People realize it is a very efficient and fair way to do business.”
“We’re in a time sensitive mode. People know when the sale is and when they need to do their inspection of the property and when to get their financing in order. For the seller, they know when the property will be sold, when the property will close, and when they will get their money.”
Gregg Pickens has grown up in the auction business. His father, Ernie, started the business in 1960. Gregg started going to auctions with his father at age 4. By the time he was 9 years old, he was selling using a microphone.
But Pickens spent 15 years in the real estate business with Fisher Provence Real Estate before he branched out with his own real estate company.
While the agency does list and sell houses and farms the traditional way, Pickens said he puts emphasis on selling property through auctions.
And, he says the auction industry has changed drastically through the years.
Technology has taken over.
“People can bid online. Most auctions are Web cast, which means you can sit at your computer in your office and watch a live auction wherever they may be held,” Pickens said.
Pickens Auction held 15 online auctions last year, using a variety of ventures but primarily proxitybid.com. “It’s user friendly for the buyers and for us,” he said.
Pickens is associated with MarkNet Alliance, a national network of auction companies which, according to the company brochure, “brings local market expertise to their clients with the ability to service their needs at a national level. Your MarkNet Alliance company knows your market. They are established in your region and have the reputation that is important to you.”
“We have gone from not having a Web site to a select group of real estate auctioneers on a global scale,” Pickens said.
Pickens said MarkNet Alliance will have a nationwide online only real estate auction in July, featuring 100 properties nationwide. Of those, 5-10 could be within central Oklahoma, including Stillwater properties.
“Bidders will bid only online. We’re excited about that,” Pickens said.
Pickens had more than 100 real estate auctions last year in 32 counties in Oklahoma, but expects between 120-150 this year. Pickens also helped MarkNet Alliance with auctions in Missouri, Kansas and Mississippi. He plans to assist with an auction in Mississippi in April, and may have an opportunity for an auction in Florida.
Auctions used to be held during the spring and summer but Pickens said the season for auctions is year-round.
“Our last auction in 2007 was on Dec. 12. Our first one this year was on Jan. 9,” Pickens said.
Most auctions are held on weekdays though some take place on Saturdays and Sundays.
“If a seller wants to sell it and there are buyers who want to buy it, it doesn’t matter what day of the week the auction is held,” Pickens said.
Pickens has a 12-person team that sets up and conducts the auctions. The auctioneering is handled by Pickens, his father Ernie, and Bob Priess.
While Pickens says real estate auctions are becoming more popular, he said the trend will increase.
“We attended the national Realtors convention in November, and they (the Realtors) are predicting in 2008 that 30 percent of all real estate will be sold at auctions,” Pickens said, adding that the auction industry alone is $270 billion.
“It’s a good way to sell your property,” Pickens said. “It’s a very fair way.”
Pickens Real Estate/Auctions office hours are from 8-5 weekdays. Pickens can be reached on his cell phone at 747-9304 while the office number is 533-2600. Or e-mail at www.pickensauctions.com.
