Published in the Kansas City STAR November 20, 2016. The team of agents at Cates Auction & Realty Company is often asked about the best time of year for a real estate auction. “We have successful real estate auctions 12 months a year!” says vice president Greg Duncan. “It’s not uncommon for some great properties to be scheduled at the end of the year and through the winter months because one reason our sellers choose auction is to pick their sale dates when it’s convenient for them,” he adds.
As the company looks to the close of its 74th year, this winter appears to be following the same pattern. Already this month Cates has conducted auctions for a commercial building, a horse farm, development land, and seven single family homes. One of those houses, an executive home in Lenexa, Kansas, was referred to the company by a traditional Realtor. Cates agent Rick Bradford specializes in partnerships with local Realtors and worked closely with both the seller and the Realtor. “We had a beautiful fall day for the auction and with live bidding on site as well as online, the final sale price far exceeded the auction reserve. All parties were pleased with the outcome,” said Bradford. He encourages Realtors whose clients need to sell during the winder to consider the auction strategy.
December auctions include more homes, residential and commercial land, and an office building. Cates agent Ray Bucklew specializes in commercial auction properties and is working with the seller of a former medical building in Oak Grove, scheduled for auction on December 13th. Prior to Cates’ involvement, the property was last listed for sale at $229,000, but the seller’s auction reserve is only $50,000. According to Bucklew, “This seller set a very low reserve to be sure buyers understand the opportunity. The nearly 5,000 square foot building will be a great buy and can easily serve a variety of commercial uses.” Commercial buyers may also be interested in a 1.25 acre development site at a high-traffic location in Independence that is selling without reserve to the highest online bidder on December 14th
Cates agent Shane Maxwell specializes in land auctions and is working with the sellers of 52 acres in Johnson County. The property is divided into four tracts and using the company’s unique “Multi-Parcel Bidding Method” the bidding will be offered on the tracts individually as well as in combinations. There are no reserves placed on the auction. Maxwell explains, “The tracts vary in size from nine to 18 acres. Rather than pre-determine how it should be sold, we’ll let buyers bid on exactly what pieces or combinations they want to buy. It’s the fairest method for buyers and ensures that the sale is the best case scenario for the sellers.” He predicts there will be interest from developers, dream home builders, and even investors. The sale takes place live at the Spring Hill Community Center on December 14th.
Addresses and information on these properties, as well as a number of single family homes scheduled for auction in the coming weeks, can be found at www.CatesAuction.com. All upcoming auctions have photo galleries, videos, documents and open house dates. Prospective bidders and curious sellers are invited to contact Cates Auction & Realty at Sold@CatesAuction or 816-781-1134 for more information on buying and selling real estate at auction.
Duncan is looking forward to the next few months. “We’re already working on January and February auctions. Our staff will enjoy a well-deserved holiday break and begin the new year in full swing.” There are also plans to hire a new Auction Logistics Coordinator in January to help with planned growth.
Jeff Cates, whose grandfather founded the company in 1942 is pleased with the year-end auction offerings and even more excited about the plans for 2017. He points out, “Not very many companies get to mark a 75th anniversary. We’re grateful to our sellers, buyers, partners and friends so we plan to celebrate!”