Bruce Norris is joined by Co-founder and Chairman of National Recreational Properties, Real Estate Disposition Corporation (REDC), LandAuction.com, and author of Auction Revolution and soon to be released How to Make a Fortune at Real Estate Auctions, Robert Friedman. Bruce and Robert discuss how long Robert has been involved in auctions, how he got started, land auctions, the evolution of auctions in cycles past, terms for land auctions, land auctions in the coming years, if REDC can handle more volume, how the volume so far and the magnitude of the downturn was unexpected, how his company goes about buying land, underwriting title, current clients of REDC auctions, the different kinds of auctions, the type of auction REDC uses and why, why banks lean to a certain type of auction, introduction of buyers’ premium at auctions, where the profit center is now for auction companies, advantages of absolute auction if any, licensing for becoming an auctioneer, Robert’s new book, the amount of people it takes to pull off a great auction, how marketing has changed for auction companies, the Internet and real estate marketing, working with builders, early lessons in the industry, ballroom auctions versus other types and why Robert chooses ballroom, most active areas, benefits to having an established brand at auction, why auctions have never been accepted in booming markets, and the stigma with auctions in a down market.
Real estate visionary Rob Friedman is the co-founder and Chairman of National Recreational Properties, Real Estate Disposition Corporation (REDC) and LandAuction.com. Together these three companies comprise one of the largest real estate and auction businesses in the world. His real estate firms have sold tens of thousands of properties grossing billions of dollars, the majority through real estate auctions.
Since the age of 24, Rob has been investing in all types of real estate including land, residential and commercial. While his first love is land and land development, Mr. Friedman has multiple shopping centers in development and owns strip centers, automotive dealership locations, fast-food locations and numerous other types of properties across the country.
Mr. Friedman is the co-author of “Auction Revolution” and the soon to be published “How to Make a Fortune at Real Estate Auctions.”
In addition to his extraordinary success in Real Estate, Mr. Friedman was among the first to recognize the potential of the internet. He has numerous online ventures including Football.com and Basketball.com, two leading online sports entertainment and e-commerce websites. He also sits on the board of Big Brothers and Big Sisters of Orange County.
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