Why I Believe in Auctions (And Why You Should Too)

I grew up in an auction family. As a kid, I remember my dad setting up tents in people's front yards, hauling everything out of a house, and selling it to the crowd that gathered that day. It was hard work. Long days, heavy lifting, and a lot of pressure to get it right. But we made a real difference for the families who trusted us. They needed something sold, and we made it happen, fast and fair, in front of everyone.

After college, I got my real estate and auctioneer's licenses and started selling real estate and personal property at auction myself. In 2013, I bought my family's business, Farmer Auctions, and ran it until 2016, when I sold it to another regional auctioneer. It's still running in Salem today under our family name. What hooked me early, and still drives me, is that an auction gives you the truth. There are no contingencies to hide behind. You find out what something is actually worth, on that day, in front of real buyers. You also control the timeline and the terms, so you're not stuck waiting on someone else's financing or second-guessing at the closing table.

That's part of why I joined Investors Real Estate Partners. We take a hybrid, consultative approach, starting with the client's goals, not a default format. Sometimes a traditional listing is the right move. Sometimes auction is. Our job is to tell you which one gets you there. I steer sellers toward auction when any of three things are true. First, if your property is in demand, a traditional listing can actually cap your upside. Price it too conservatively and you may never find out what a motivated buyer would have paid. Second, if time matters more than testing the market slowly, an auction sets a firm date and drives a decision. Third, if you want an all-cash buyer and full control over terms and contingencies, auction puts you in the driver's seat instead of negotiating those points away one at a time.

Buyers benefit too, and it's worth saying plainly: auctions are not just for distressed property. That reputation is outdated, and there are plenty of examples that prove it. NASCAR legend Junior Johnson's 150-acre Hamptonville, NC farm had sat on the traditional market for months, listed at $6 million, then dropped to $5 million, with no takers. Nothing distressed about it, just an unrealistic ask and no way to find the real number. Johnson brought in Iron Horse Auction Company, and the property sold in about 30 minutes for $2.3 million, the highest closing price of any property sold in the Piedmont Triad region in over a year. That's the auction process doing exactly what it's built to do: cut through a stalled listing and land on true market value fast. For buyers, that same process means price transparency instead of guessing games, a defined closing timeline instead of a financing contingency dragging on for weeks, and access to motivated sellers and unique assets that never make it to a traditional listing.

If you're thinking about buying or selling real estate or want to see what's coming next register for an account on our website to stay up to date with new listings and get notified as soon as new auction opportunities hit the market. We'll keep you posted on upcoming auctions, and you'll never miss a chance to find real value or move your property on your terms.

Will Farmer, CAI

Will Farmer is a Senior Vice President at Investors Real Estate Partners and a real estate and auction executive with more than 20 years of experience helping property owners, investors, and institutions maximize value through brokerage, auctions, and advisory services.