(CHESAPEAKE, Va.) — NEWS: In a pandemic-ravaged economy that’s left few industries untouched – with many having had to completely rethink and reorient operations within a short window of time – one might question why someone would leave an established career to set off on a new venture. However, that’s exactly what Seth A. White chose to do, noted real estate auction firm Tranzon Fox has announced today.
Five years into a career as an agent for two of the leading residential real estate brokerage firms in Hampton Roads, during which time he handled transactions that reached eye-watering highs of nearly $2 million for waterfront homes – something many agents still dream of achieving – he was seeking a chance to better differentiate himself and an opportunity that would allow him to lean into the wind-buffeted economy, rather than push against it.
Although he had previously explored the possibility of immersing himself in the real estate auction business, partly because it would enable him to continue representing residential clients while also stepping into the commercial realm, he ultimately decided it was not the right time.
“I continued to see the value in having the opportunity to serve my clients with an accelerated sale process using focused marketing that would ensure an asset yielded a price in line with its current market value. And sellers love the as-is purchase contracts that typify the auction business,” said White, Tranzon Fox’s newest auction associate.
So, in the turbulent present, in which some industries have been hammered relentlessly while a few have prospered, and Wall Street is up substantially one day and down the next, leaving values of many assets less clear, Mr. White decided this was the time to embrace auctions. “There’s obviously a large advantage in being able to sell a property for the highest possible price in the shortest reasonable period of time through a transparent bidding process. Many private sellers choose it for its efficiency, but, of course, I will also be able to assist in foreclosures, bankruptcies, and other situations of distress and duress, when efficiency and time are not just optional, but mandated,” he said. Furthermore, Mr. White knows that, “time is money, and executing for my clients will become ever more important as we navigate through these delicate periods of time.”
Ultimately, what convinced White was Tranzon Fox’s established ability to sell and close or obtain ratified contracts on a variety of properties during the pandemic era, from the low-end, to a $3 million-plus veterinary hospital / boarding / grooming facility. This includes asset types that have been hammered of late, namely retail and restaurants.
“They’re still getting deals done, and I want to be a part of that,” White said. “Now is the time.”
In 2000, a group of real estate auctioneers banded together to create Tranzon, LLC, a nationwide network that revolutionized the way real estate professionals bring buyers and sellers together. Today, the Tranzon team features some of the most experienced real estate, marketing, and auction professionals in the business. Using Tranzon’s Market-Making System(tm), a proven methodology for the accelerated sale of property, the company has conducted tens of thousands of successful commercial and residential auctions for clients including financial institutions, trusts, guardians, estates, and private individuals. All Tranzon companies are independently owned and operated.
Learn more at: https://www.tranzon.com/
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