Understanding Real Estate Auctions with Craig Buford

What’s the difference between a real estate auction and other types of auctions that you might be familiar with? What different types of real estate auctions are there? Listen in to today’s episode to hear from Craig Buford, who has what he calls an auction-centric real estate company in Oklahoma City. Craig discusses what to look for in auctioneers, what an auctioneers chant is all about, and what types of auctions are possible.

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Topics discussed in this episode:

  • Craig’s current role
  • Craig’s background in rodeo
  • Craig’s work in multiple states
  • The size of Craig’s team
  • How to grade auctioneers
  • What an auctioneer’s chant is
  • How a real estate portion works
  • How many people usually show up at an auction
  • Showing proof of ability to pay
  • What a seller looks for to decide between a normal listing and an auction
  • How long after winning an auction does the winner have to do a close
  • How United Country supports Craig’s team
  • Working with both investors and end-users
  • The types of properties Craig works with
  • Whether Craig’s auctions went online during the pandemic
  • Whether Craig uses Facebook
  • Whether referrals from past clients are a factor
  • Whether the same people show up for multiple auctions
  • How to find out more about Craig’s business from another state
  • The different types of auctions
  • Whether sellers are more informed because of online research
  • How United Country helps inform the company
  • The future of auction real estate post-pandemic
  • Whether Craig is seeing more institutional buyers and developers
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