Ray Carman – Auctioneer

With auction season winding up, the choices are not as many. So this week, a great place to go invest some money would be in Macon Co on Siloam Church Rd with Darrell Carman and crew. For more details, visit www.CarmanRealEstate.com and follow the auction tab!

As auction season is winding its way down, and winter creep in, the choices for auctions are becoming fewer. However, this still means GREAT opportunity for you, the potential buyer and treasure seeker.

This weekend you would do well to make your way to Sumner County to catch the Harold Gene Carman Jr auction on Hwy 25 and Collier Lane. This 48 acres offers a choice location, big and small tracts, and a fantastic home. Also. there is quite an array of personal property from furniture, to mowers, to a motorcycle. This will definitely be a great place for anyone seeking a great opportunity.

For more details, visit www.GeneCarmanAuction.com and come on out and enjoy yourself a great auction this weekend.

Ray Carman

Now having limits is not something we like to talk about in our world. We all want to reach for the sky and think NOTHING is beyond our capabilities. However, there are times when it is best to know what your limitations are for the benefit of your clients/customers.

We have all been approached with the “once in a lifetime opportunity” and immediately we knew this was something bigger than what we could possibly handle. When that happens, we are faced with a couple of choices:

1. Take the job anyway

or

2. Point the client/customer in the right direction to get the proper help.

Now honestly, option one sounds more appealing because more than likely there is a bigger payday behind that curtain. However, more than likely, the service expected by your customer/client is not attainable and in the end, the scar on your reputation could be much more damaging than the paycheck you receive. So, it is important to ask, what is more important? Your clients needs or your pocketbook!

There is a great outcome to option #2 though. Imagine a client asking you to handle a property beyond your scope, and instead of trying to tackle it as best you can, you connect them with a real professional in that field. There are several great things that could come from that.

1. You receive compensation from a referral when it is sold

2. Your client/customer sings your praises to their friends for doing the right thing.

3 You make a great connection for future referrals.

4. You pick up more business in your field of expertise from the client/customer you sent to the right source for their needs because you cared more about them than yourself.

It really is amazing how that works.

So. if you find yourself in “that” situation, consider the options before you dive in over your head.

Ray Carman

This week, I am going to give you the pick of the Auctioneer, as they have three sales you might find interesting. I might sound bias this week, but I honestly think you wil find you greatest enjoyment and bargain at a Gene Carman Auction this weekend.

First off, if you want some fine personal items, or just a great home in town that would be a good income producing home, then you will want to visit my grandfather, Gene Carman Sr, over on Bate Ave.

If you are looking for a spectacular mini farm opportunity in the Gallatin area to build a dream home, or just have a place to raise some livestock, then you should come visit me over on Branham Mill Road at 10am.

And, if you were looking for a acreage tract for a getaway cabin, hunting farm, or place for a gorgeous view, then come out and see Harold Gene Carman Jr at 1pm in Dixon Springs TN.

You can find additional info and videos for these upcoming auctions at www.GeneCarmanAuction.com

Often in my line of work, we charge a Buyers Premium at an auction. And more times than not, we have people asking what is a Buyers Premium and why is it charged? So, I thought I would take a moment and discuss that issue.

Most of the times, you see a Buyers Premium tagged in an auction ad for an upcoming auction. Many times it will read, “A _% premium will be added to the final bid to determine the sales price.” Most people are aware that this means that more money will be tacked on to the bid. What most people do not know is why it is charged.

Over the years, the auction business became more competitive, as with any business. Auctioneers had to find ways to become more aggressive with their charges in order to make a living. When I was growing up. a Buyers Premium was RARELY used in the middle Tn area. Most people did not like it on their auction and most people did not want to pay it, as they considered it like a tax. But as with anything else, the buyers premium crept into the area, and Auctioneers were forced to consider using it as a way of making a living. NOW, just about 80% of auctions will have some form of a buyers premium on it.

To understand it, you first might need to know what it is not. It is not a tax. It is not an additional fee for the seller. It is not an additional fee for the Auctioneer in most cases.

What it is, is a fee charged by an auctioneer in order to obtain a wage for his services. With competition growing in the industry, Auctioneers were having to cut rates to the point they could no longer make a living doing auctions. Auctions can often be very time consuming, far beyond the time put in the day of the sale. Therefore. auctioneers decided to approach sellers with a new approach, charging them little to nothing, and allowing a buyers premium to be added to bids in order to make a living.

The truth is, the Buyers Premium has drifted in and out of popularity over the expanse of time. Currently, you can find premiums from 1%-15%, depending on the sale and Auctioneer. Often you will see small premiums charged, because an auctioneer has negotiated a separate fee from the seller. As time moves forward, it will once again disappear as people start to drift away from the premium, mostly because of misunderstandings. However, you can mark it down, it is a concept that has been around, and will continue to be around throughout the ages.

If you have personal questions or opinions about a Buyers Premium, go ahead and let us know. I would love to have your feedback.

Ray Carman.