As most of you know, I stay "tuned-in" to what's happening with real estate auctions across the country.
One of the more interesting things taking place is the number of celebrities & professional athletes that are turning to auctions to sell their real estate. The most recent is Country Legend Kenny Rogers who is selling his home in Athens, GA via Absolute Auction on June 26th
It makes sense for several reasons:
- Equity - They either own their property free & clear or they have pretty good equity and can let it go at a "discount".
- Public Interest
- As a celebrity, the public takes notice and it's even easier to
market one of their auctions. After all, who wouldn't want to own Kenny
- Why wait - As you know an
auction accelerates a sale, especially important if you're a
professional athlete that's been traded to another team.
- Absolute - Along with having equity, many celebrities are selling absolute (like Kenny) with no minimium bid, helping entice bidders even more with the possibility of a "steal".