Five Key Principle Elements of the Phoenix Auction Business

The Reputation Institute conducts business reputation research, has identified five key principle elements of a business reputation.This article is designed to provide you with these elements and how they affect a Phoenix auction business.Specifics may vary from auction to auction; however, the following information includes helpful and important guidelines from which everyone can benefit.

Distinctiveness - Does your company stand out from your competitors?When people think of your company, do they have a clear image of your company or do they get you confused with other companies in your industry?

Focus - Is it clear to your customers what your company's goals and strengths are?Strong reputations are built when your company focuses its efforts around a central theme that it shares with its customers.

Consistency - Is your company consistent in its actions and communications?Does your company send mixed messages or have occasions where words do not match deeds?Reputation applies to every part of your company and therefore, everybody in your company has to assist in building that reputation.All employees need to understand the company's values and live them.It is not enough to teach individual behaviors but also teach the underlying values.

Identity - What is your company's emotional appeal to its customers?Identity is the positive or negative emotional appeal that your company has for its customers.It is the sum of their emotional experiences with your company.Do they have good memories, bad memories, or indifferent memories of your company?Do they remember your employees as helpful and friendly or cold and aloof?Do they trust your clerks and cashiers or do they double-check every lot and carefully count all change?

Transparency - Do your customers believe that, when it comes to your company, what they see is what they get?Or does your company openly share information and engage in dialogue with customers?Do customers take your company's actions at face value or are they always looking for ulterior motives?Does every customer experience the same company or does your company show a different face for each customer?

Not only is reputation of individual Phoenix auction businesses critical but also the reputation of the auction industry as a whole.Most auctioneers are very concerned with their business reputations because the auctioneer's name or their family's name is highly associated with their auction businesses.But the cumulative reputation of all auction companies is what creates the reputation of our industry.And in the same way that an individual company's reputation is hard to earn and easy to lose, so is the auction industry's reputation.

Why is the reputation of the auction industry as a whole so critical to the success of our industry?Unlike most industries, there are many alternatives to the services provided by auctioneers.There are many different ways to sell or purchase merchandise that don't involve hiring an auctioneer.You can hold a yard sale, consign it, open a retail storefront, have a going out of business sale, sell it outright or donate it to charity.If people are hesitant to use auctioneers or, worse, do not trust them, they will take their business elsewhere.

I think the reasons why the Phoenix auction industry and auctioneers should be highly concerned with their reputations were well summed up by Alan Greenspan during a commencement speech at Harvard University in June, 2000."In today's world, where ideas are increasingly displacing the physical in the production of economic value, competition for reputation becomes a significant driving force" manufactured goods often can be evaluated before the completion of a transaction.Service providers, on the other hand can only offer their reputations."

About the Author

Deb Weidenhamer is President of Auction Systems, the Southwest's most active auction and appraisal company.

Visit us online at Auction Systems, or call 800-801-8880 for more information.

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The Hidden Costs of Buying Properties Abroad

You can fund the purchase of a property abroad by arranging a mortgage through a UK lender, such as the Halifax, Abbey or Barclays.You can also release equity from your home in the UK or by arranging a mortgage in the country you are moving to.

Your main home will be at additional risk if you use it as security to raise finance.On the other hand borrowing money overseas also carrys a risk, especially if currency exchanges rates move against your own interests.Normally there will be no problem in finding a favourable mortgage for popular holiday destinations like Spain, but the choice of mortgages for farther flung locations may be more limited.We recommend that you consult a mortgage adviser, who
specialises in overseas locations.

A Note on Legal Fees
The fees payable over and above the purchase price varies dramatically between different countries, so it is extremely important to take account of these costs when considering your budget.

What to pay and when to pay it
Having found a property and had your offer accepted, you will have to lodge a non-refundable deposit, which is generally 10% of the agreed price.
Check this out, as some countries like Portugal and Italy, require a third of the asking price in advance.

Never part with money until an initial contract has been agreed and even then make sure that the cash is lodged with a bonded estate agent or lawyer.
Italy is probably the most expensive country to purchase a property in, where the costs add up to a startling 16,500 pounds when purchasing a 100,000 pound property.This is made up of Estate Agent 3000 pounds.Legal Fees 1000 pounds.

Survey and other adminisration costs 1000 pounds and miscellaneous fees are an amazing 11,500 pounds.The latter includes land registry taxes, other notary fees and transfer taxes.Turkey was the cheapest country we found.Here the total cost over and above the purchase price was 7000 pounds, which breaks down as follows Estate Agent 3000 pounds.Legal fees 1000 pounds.Other fees amount to 3000 pounds.

Get the experts in
Different countries have different property laws and regulations, so it's important that you find a good, fluent English-speaking solicitor who is not connected to your seller, estate agent or property developer.
They should be used to dealing with overseas purchasers and go through all the possible fees, taxes, insurance issues, local authority rules and any possible pitfalls.The laws and procedures involved with every aspect of the house buying process are often different to British laws, so make sure the local knowledge of your solicitor is excellent.

If you have bought a plot of land and are having a property built make sure all planning permissions are covered and find a good architect.Again, the tourist office can help.If you think the service you are receiving is unsatisfactory, say so and explain if things do not improve you will go elsewhere.
Make an offer

Once you have found your ideal home, set a maximum price you will pay and don not go over it.

After your offer is accepted and you have instructed solicitors make sure you keep tabs on them and the estate agents.Ask for regular updates and make sure you fulfil all the requests made of you promptly.

About the Author

Interested In getting a quote on a Mortgage?

Please Visit the mortgages-makesense.co.uk for more information and other resources.Our sister site Brokers Online offers cutting edge articles and information about mortgages and other financial products.

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What Are Junior Lien Foreclosures

Unless you have been living in a cave somewhere, you have probably heard that the residential real estate market is practically in the gutter. Foreclosures are at an all time high and are expected to continue to rise in the next two years. Many so-called real estate investors are packing up and heading back home, with their tails between their legs. But not you. Not if you know how to use this buyers market to your advantage and make more money than ever.

Junior lien foreclosures occur prior to an actual bank foreclosure. It takes about 6 months for the bank to complete the entire foreclosure process. During this time, the bank is not getting paid any money, the house is lived in but most likely not being taken care of properly, and the bank cannot sell the house. No money is coming in for the bank, but plenty is going out. Lawyers cost plenty and foreclosures have to go through the court system.

Because of the influx of foreclosures on the market, the court system is overburdened with the foreclosure process which means it can even take longer for a bank to foreclose on an errant borrower. During that time, the borrower is living rent free and doing whatever they want to the property. If you have ever been inside a house that went into foreclosure, you know that it is not a pretty sight. You might see holes punched in walls, doors missing, light fixtures ripped from their sockets. People who are getting tossed out of their homes are sometimes angry or trying to take everything that is not nailed down.

This is where a savvy investor comes in. If you proceed with a junior lien foreclosure, you can intercede in the middle of the foreclosure with the bank, purchase the property and satisfy both the bank and the owners.

In most cases, the owners of the property just want to get out and on with their lives. They cannot sell the property and may owe more than what the property is worth. They are anxious and scared. You come in and make them an offer to sell their property so that they can walk away without it costing them any money. This is known as the short sale, or junior lien foreclosure.

Because you are saving the bank not only from the legal hassle of foreclosure, but also from having to sell the property once it has been foreclosed upon, you can offer quite a bit less than the property is worth. And the bank will most likely take it You may have to negotiate for a while, but it will be well worth it. More than likely, the bank does not need another foreclosure on their hands.

In order to facilitate such a transaction successfully, you need to learn as much as you can about junior lien foreclosures, short sales and real estate investing in general. Once you are armed with this knowledge, you will be able to not only make money in this down buyers market, but you will not have to compete with thousands of other investors who want to get their hands on foreclosures. Your knowledge and skills that you can easily learn from one seminar or class will knock the competition out of the water and put you at the head of the real estate investment game.


About the Author

For more articles and a 10 part e-course on how to create your own Ultimate Buying and selling Machine plus over 50 training audios, simply go to

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