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East Coast Auctions Gain Ground

CLINTON, NJ-Locally based auctioneer Max Spann has seen a marked uptick in trades over the past several months.

By Alyson Grala | Updated on June 30, 2010

CLINTON, NJ-A multifaceted national real estate company, locally based Max Spann Real Estate & Auction Co. has seen business double in the past year. Headed up by Max Spann Jr., who serves as president, the company held eight separate auctions this past spring alone for 154 condo units in Delaware, Maryland, New Jersey and Pennsylvania. In June, the company held four more auctions with 44 units on the block, in addition to an online-only note sale.

The trick to the 40-plus strong company’s success: its accelerated auction marketing, which allows sellers to control the terms and the timing of the sale of their real estate assets; properties can trade hands in 30 to 45 days. “By accelerating their sales, sellers avoid protracted carrying costs and future market uncertainties,” says Spann. “For buyer’s, auctions allow bidders to buy quickly, efficiently and at prices they determine.” According to Spann, the company is approached by banks with a nonperforming loan or by frustrated developers who cannot afford the slow-drip method of traditional real estate sales.

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