Spotlight On: Beth Rose, Owner and Auctioneer of Rose Auction Group

December 20th, 2013 by melissa

Spotlight on . . .Beth

We recently spoke with Beth Rose, owner of Rose Auction Group and third-generation auctioneer. Beginning the company in Ohio and expanding to Michigan and Florida, Beth conducts over 400 auctions per year in all areas of real estate. Her solid background and expertise has awarded her as the first female in history to win the Michigan State Auctioneers Association bid-calling contest in 2009, and Auction of the Year in 2010. Topics we discussed with Beth include the development of online auctions, the rise in real estate sales and current economy, and women in the auctioneering industry.

PA: As a third-generation firm and company owner, tell us about Rose Auction Company and how you became its leader.
BR: To most people, the dynamics of my family have always been intriguing. My father, David Rose, was my mentor and I grew up in the auction business with him and my three sisters. He groomed us to be the best salespeople! He believed in education and put us through vigorous sales training to make sure we were always ready to make a sale.He always told me to wake up every morning as if you were unemployed and go make a sale that day. To this day, I use that philosophy. My biggest competitor in my local market is my sister, Pamela Rose. Although we compete in the auction business, at the end of the day, we’re still family and best friends. I treat every appointment as if Pam is sitting in the driveway to get the deal. My father created four powerhouses and just as we competed as children on the playground, we love the thrill of competing in the auction business. My father has since passed away but I remember him saying, “My girls are some of the best sales people around; they are survivors and they will only excel in their careers.” Today, my NAA family has filled the void of my father as my mentor. Going through CAI and meeting the best of the best in the industry keeps me going. But most of all, being a leader means passing the torch to the next generation of auctioneers to give back what the industry has given me.

PA: As a veteran of the industry and first female in history to win several recent Auctioneering awards, what is your opinion on opportunities for women in the industry today? Do you think there are more options for women in real estate auctioneering now than there were 10 years ago?
BR: Women have a tremendous amount of opportunity in the business today, more than they had in the past. Today, we’re seeing more women in leadership roles of our industry than ever before. We have catapulted these leaders not only to represent our industry as a whole, but to pave the way for women to guide us into the future. Seeing more women get into the real estate auction business is inspiring. It’s not an easy business to jump into, but with the influence of our leadership and mentorship created through lifelong friendships made within our industry, I’m confident women will continue to shape the future for the real estate auction business.

PA: How do you think the recent surge in real estate sales is affecting property auctions – positively or negatively?
BR: It’s extremely positive! The inventory is low and the demand is high! Throughout 2013, our crowds have been bigger than ever and buyers have been more competitive than ever. We live in an area where the auction method is a first choice, not a last resort. When sellers are interested in selling their real estate, they think Rose Auction. We have spent many years educating our local market on the auction method of marketing. Our auctions have become more popular and powerful by answering the needs of consumers with effective marketing and online bidding for every auction.

PA: With the real estate market and current economy appearing to move in a positive direction, what are your predictions for the property auction industry for 2014?
BR: 2014 predictions have indicated that it is going to be a stellar year, Auctioneers! Low inventory and low interest rates are consistently moving the real estate market in the right direction. In the auction business, we are seeing companies leverage the popularity of auctions that was created during the house crisis with foreclosure auctions, by transitioning their focus and educating private sellers that the auction method is a viable first option of selling real estate. We are also seeing the transition from a buyer’s market to a seller’s market which will amp up the competition among buyers in 2014.

PA: What type of property auctions are drawing the most potential buyers – Commercial? Residential? Land?
BR: This is a great question. Land auctions have been achieving historical, record results. The demand for land has skyrocketed, which in return, makes an auction the premier choice of selling. Residential auctions are going strong as well, due to the high demand for inventory. Where commercial properties have traditionally been difficult to find buyers, Commercial Agents are seeing an opportunity by utilizing the auction method to reach a worldwide market.

PA: How do you see the development of online-only auctions for real estate?
BR: In the last ten years, we’ve seen personal property sweep the industry with online auctions, and I believe in the next five years, we will see the same with online-only real estate auctions. In order to stay relevant in an industry that is rapidly changing, auctioneers need to look at online-only auctions as an opportunity, not as a challenge. If we can shape the minds of consumers by simplifying the selling process and creating a buying platform that’s efficient and universal; that’s a strategy that will dominate the real estate industry.

PA: What do you think is the most effective vehicle of advertising for an online auction versus a live auction?
BR: The answer lies within the title – ONLINE. The key to a successful online advertising campaign for an online auction is driving buyers to your website. The Internet has been making big changes to personalize the online experience. In years past, we would cast a wide net of reach using print advertising to touch as many consumers as possible. Now, we’re finding a successful online advertising campaign is getting specific with your target market to ensure you’re reaching the right buyer, not just any buyer. With live auctions, the key is getting the right buyer through the door. Online advertising remains the driving force for both types of auctions, but driving your buyers to previews and open houses will ensure that you build a rapport with your buyer that will result in a successful live auction.

PA: Does social media play an active role in your marketing plan?
BR: Social media has become part of our daily routine and certainly an integral part of our marketing plan. There are several segments of social media that, together, build upon an effective online presence. Having a platform to socialize with consumers, educate them on the auction industry, and market our auctions is an invaluable advertising strategy.

PA: Lastly, what would your three top tips be for buyers and your three top tips for sellers?
BR: Top 3 Tips for Buyers:
1. Attend the open house prior to the auction to carefully look at the property and determine your level of interest.
2. Read the terms and conditions prior to bidding so you have a full understanding of what is required to close.
3. Make your financing arrangements ahead of time to avoid any delays in closing that would put your deposit at risk.
Top 3 Tips for Sellers:
1. Find an auctioneer that specializes in your type of real estate.
2. Find an auctioneer that is a member of the NAA.
3. Ask questions: How many houses have you sold? What are your credentials? What is your marketing plan? Can I see your testimonials or references?

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