Peter

Kristen, you are obviously promoting your website, and I do not doubt that your are somehow connected to REDC. Are you located in Nevado or AZ?, because your website says you are from Arizona.

I am a native Arizonan investor, and I have been doing this for many years. Most of the information provided below is accurate. I considered listing several of my properties with REDC and their tactics are very deceiving. Their commission structure is actually higher than with a traditional realtor, and they pay more to the buyer's realtors than what I would pay them thru normal means. So, if it was because of the realtor's commissions alone the agents will be driving their buyers to this auctions - and I know of some that do!

Me and all the other sellers who list their homes on this auctions want to get the same amount of money out of them, than if sold the traditional way. And since REDC charge more than a traditional realor, the seller at the end will have to pay more on the auction.

The percentage of homes that REDC actually get sold is minimal - that should tell you something. And regarding your example below, I can show you a 100 other propeties sold as REO's (foreclosed properties) or even regular sellers for less than half of what they paid during the boom years.

Bottom line regular sales (REOs, regular owners, etc) are way better deals for both buyers and sellers than auction. At an auction you may end up paying more and might be taking a bigger risk!!! - Tue Sep 9 2008, 23:33