You’ve asked yourself this question for the thousandth time. You’ve heard all the hype and skeptically turned your head away from the opportunity, only to find yourself attracted to it once again. You’ve seen the advertisements and laughed at the idea, but somewhere deep inside you wonder if it’s really possible.The question keeps coming back…Is it crazy starting a home-based business?With all the negative misconceptions surrounding home-based businesses, I feel it is important for you to understand the main reasons people start a home-based business in the first place. The purpose of this post is not to sell you on any one business opportunity or to convince you to even start your own business.The purpose is to help understand the mind-set of individuals who seek to create a different future for them self and/or their family. Perhaps you landed on this article, because you are looking for a better way to secure your future.Maybe you have already convinced yourself to start a home-based business, but are skeptical that you even have what it takes to succeed in your own business. Whatever your purpose may have been that found you reading this post, I hope you take away a fuller understanding of what led you to the world of entrepreneurship.It is well known that a home-based business is not everyone’s cup of tea. So, why do so many even venture into this career path?1. Dissatisfied With Current EmploymentHow many of you have walked into your place of employment bright and early on Monday morning and said to yourself, “I can’t wait for Friday afternoon to come!”? I can safely assume that the majority of you right now are raising your hand in your mind.There is no shame in feeling this way. Most of us live for our weekends, when we can relax with our families and get tasks completed from our to-do lists. We can sleep in past 6:00am and go to bed later than 9:00pm.Weekends = Freedom.Now, many are perfectly content with staying in their current 9:00-5:00 job. This is okay, because this equates to familiarity and stability for so many.For others, however, they are dissatisfied with their job and with the restrictiveness of its expectations. They are tired of missing birthdays and holidays, vacations with the family. We spend more time with our co-workers during the day than we do with our own family and friends.Activities and events are all planned around our work schedules and, many times, it is easier to just cancel the event than to try to request the time off from work.Now, there are two types of individuals who are dissatisfied with their current employment: those that are hungry to do something about it and those that will continue punching that time card. Again, it is respectable to stay in one’s current job, because they are taking care of their responsibilities and, possibly, working hard for that next promotion.However, for those that are hungry to make a change, starting a home-based business has proven to be the answer to their problem.As a home-based business owner, you make your own schedule and you dictate the amount of time you are able to spend with your family and friends. You are afforded the luxury of time, because there is no boss to report to but yourself.2. The EconomyIt is no secret that the state of today’s economy is one of uncertainty. Property values have fallen and unemployment rates have risen. Recent college graduates struggle to find employment, after racking up thousands of dollars in student loans. More and more families have to apply for government assistance just to meet their most basic needs.We are currently in the middle of a presidential election year and what has been a significant focus of both campaigns? The economy.With the current state of the economy, more and more people are looking for ways to secure their financial future, because they are not confident in placing this in the hands of their employers and of their government.With a home-based business, many have been able to start building a financial cushion for them self and for their family and all from the comfort of their own home. This is especially suitable for those currently employed and/or have families, as they are able to grow their business part time if need be.3. Financial Freedom & SecurityWith a home-based business, the potential to earn a significant amount of money is so much greater than with a traditional job. In a regular private or government job, the only way to increase your income is to obtain a promotion or get hired in a higher paying job.With a home-based business, your efforts and commitment truly does predict the amount of money you can earn. There is no interview, there is no politics. There is simply your ability to reach the maximum amount of your target audience (your ideal consumer) and be able to attract them to your product or opportunity.The dream of financial freedom and security is realistically attainable, and more individuals are recognizing this potential within the home-based business industry. Financial freedom and security is important to many in various ways, but there is one common benefit to all: the opportunity to live the lifestyle one has always dreamed of.

On a sunny afternoon in Florida, an energetic crowd gathers on the lawn of a high end luxury estate. A loud and eager banter between an auctioneer, a group of bidders and bidder assistants fills the air. For several minutes the auctioneer asks for the next highest bid and the bidders respond. Suddenly the bidders grow silent. The high bidder holds his breath in anticipation of winning the auction. The auctioneer calls for one more bid. In a loud clear voice which rolls over the audience he says, “Fair warning, last chance” the auctioneer pauses, “SOLD!” And in less than 10 minutes another multimillion dollar estate has changed owners.

Successful real estate auctions like the one above are happening all over North America and the Caribbean. Recently real estate auctions have been on the rise, the increase in popularity is partly driven by growing inventories and fading buyer confidence. Properties that were selling in weeks using traditional methods are now languishing on the market unable to attract buyers even as seller’s lower prices. Many say the real estate boom is over but savvy buyers and sellers are profiting from real estate auctions.

Real Estate Auctions Work in Up or Down Markets.

Regardless of trends or market cycles, real estate auctions provide an open and transparent process for buyers and sellers. Properly conducted real estate auctions attract ready and willing buyers and motivate them to act now.

The auction method removes the “wait and see” attitude which serves to further depress real estate values. Buyers are always concerned about overpaying. Buyers gain confidence with their purchases at real estate auctions because they can see what others are willing to pay.

When market demand is high and inventories low, real estate auctions can deliver selling prices well above what a willing seller would have accepted in a negotiated private treaty sale. In good selling climates many property owners using traditional real estate methods; negotiating with one buyer at a time, leave thousands of dollars of equity on the table. During up markets real estate auctions are the best way to establish top market price.

Evaluating Your Real Estate for Auction

Not every property or seller for that matter makes a good candidate for auction. First of all sellers must be ready to sell now and for the current market value. Also a real estate auction will not fix problems caused by a downturn in market value of your property, if you owe more than a willing buyer will pay, be prepared to come to closing with your check book.

Properties that do well in real estate auctions have a high uniqueness factor. Ask your self, “What makes my property different from most others?” Maybe you own a resort property or high end luxury home, commercial properties and land do very well at auction. Real estate auctions thrive on uniqueness. If your property is like everyone else’s, the best thing you can do is offer the most competitive price.

Most importantly sellers must be reasonable about setting a minimum bid. A seller must look at the lowest, most current comps and price below that to generate the interest and urgency necessary for a successful real estate auction. Once the auction begins and qualified bidders start competing against one another you can watch the selling price increase.

Locate a Qualified Real Estate Auctioneer

Start by checking with the National Auctioneers Association, the best real estate auctioneers belong to this organization. These real estate auctioneers are well trained and adhere to a standard of practice and a code of ethics. Many attend the annual International Auctioneers Conference where the latest techniques and innovations in the real estate auction industry are presented.

Find out if the company you are interviewing is a full time real estate auction firm. Many real estate agents are getting auction licenses yet have no experience with the auction method of marketing. Conducting a successful real estate auction is nothing like (private treaty) traditional real estate sales. Go with a real estate auction pro.

You’re probably better of with an auction house that specializes in real estate auctions. There are many qualified auctioneers who have generations of experience selling personal property; furniture, dishes, lawn equipment and the occasional rare painting. Selling real estate at auction is a complex matter that should only be attempted by full time experienced real estate auction professionals.

Commissions and fees may vary, sellers must pay all marketing expenses up front and buyers typically pay 10% of the sales price to the auctioneer of which a share goes to participating real estate agents.

Types of Real Estate Auctions

Auctions are effective because they create a seller’s market. Professionally conducted real estate auctions create urgency, a reason to buy today and competition for the property. Terms and conditions of sale are established ahead of the auction. Real estate auctions will follow one of these three approaches:

Absolute Auction

The property is sold to the highest bidder regardless of price- using this process often returns the highest sale price.

Minimum Bid Auction

Seller agrees to sell at or above a published minimum bid price – this method is useful for internet auctions.

Seller Confirmation or Reserve Auction

With a reserve auction, the seller “reserves” the right to accept or decline any bids usually within 48 hours of the auction. Reserve auctions are used when there is a lien on the property from a lender or a court ordered sale with a minimum selling price.

Hi, my name is Walt. I’m an auctioneer with 25 years of experience in the auction business and licensed in the state of MA. I own Quick Auction Service, a company that specializes in building and running custom auctions, I’m also the webmaster of my own site and have been on eBay for 8 years. Besides eBay, the types of auctions I run most frequently are antiques and on-site estate auctions, although I’ve run everything from business overstock auctions to charity & special event auctions.

I enjoy sharing my knowledge and stories of the auction business. My goal for article is to help folks get the absolute most out of their auction experience.

Whether your fresh out of the package or a seasoned dealer I think I can offer something in this article to help you with your auciton adventures.

There may be as many reasons to attend auctions as there are types of auctions to attend. Maybe you want to attend an auction to buy items for re-sale on eBay, or some other market. Maybe you want to furnish your home with wonderful antiques, or you want to furnish your home as inexpensively without sacrificing quality.Some folks are just looking for a fun night out. With a little perseverance all these things are possible.

There are antiques and estate auctions, auto auctions, overstock auctions, absolute and no reserve auctions, real estate auctions, specialty auctions where only one genre of items are sold, tailgate auctions, live auctions, online auctions, sealed bid auctions, silent auctions, charity and fund raising auctions and many more.

Can you really buy for pennies on the dollar at an auction? You bet! Many times I’ve seen folks buy and re-sell at the same auction on the same night for a good profit, although be advised, this should only be done after the auction is over.

There are a lot of ways to find an auction, but here are some tips on how to find and attend the best ones.

Visit the genre of shops in the area that apply to the type of auction you want to attend. IE: If your looking for a good antique auction to attend, stop in the local antiques shops and ask for what there are for good auctions in the area. Sounds obvious right? But listen to what they don’t say as well as what they do say. Oftentimes when a dealer speaks poorly about an auction he or she attends, it may be likely that they are trying to keep a good thing secret. Think for a moment, why would a dealer keep attending a lousy auction?

Newspaper ads: I personally like to find ads in the classified ad section rather than flashy display ads. Flashy ads are usually indicative of an auction that will be high priced, may have reserves, (a set price on an item), and usually an enormous crowd. While any auction can be profitable to attend, it is usually best to steer clear of the glitzy ones, at least for the beginner.

Here’s the minimum you want to find out before you go. If there is a phone number in the ad, call and ask for the terms of the sale. What forms of payment do they accept? Is it an absolute auction? An absolute auction is one that has no minimum or reserve bids on items. These are the best auctions to attend! Is there a buyers premium? A buyers premium is like a tax that everyone who makes purchases at that auction must pay above the winning bid price. Most auctions these days do charge a buyers premium, 10% is not unreasonable but I feel much more than that is greedy, and the auctioneer that charges over 10% is counting on most bidders not doing the extra math as the bids quicken in pace.

A fair auction will have ample time to inspect the merchandise, usually at least 2 or 3 hours. Find out when inspection starts and make sure to attend! Never attend an auction if you can’t make the inspection, not unless your prepared to gamble. Most auctioneers sell at a rate of about 100 items per hour, which is why they sell “as is”. They simply don’t have the time to give a detailed description of all the items. Since almost all items at auction are sold AS IS, there are sure to be some damaged, refinished, fake and incomplete items at any given auction. Beware of any auctions that offer very little or no inspection time.

Good auctions will usually have 150 to 400 lots. A lot may be one item or a group of items. The exception to this are specialty auctions, auto auctions, real estate auctions etc.

When you attend your first sale, take note of the 1/2 dozen or so dealers that buy the most often. See if you can find out about other area auctions they attend.

When you do find an excellent auction, attend it as often as possible. By frequenting good sales, you help increase the bottom line of that business. It’s difficult for many auctioneers to keep the quality of merchandise consistent, so good attendance certainly helps. And when an auctioneer gets to know you as a buyer, he/she will go out of the way to accommodate you, to keep you coming back.