Bruce Norris is joined this week by President of the National Auctioneers Association, co-founder of the Williams and Williams Auction Company, and panelist for I Survived Real Estate 2008, Tommy Williams. Bruce and Tommy discuss the extremely volatile past 5 months, the possibility for more unknowns in the coming year, what caused this to happen, innovative financing, homeownership levels, what buyers should have to bring to the table in order to own a home, what would happen if deposits weren’t required at auctions, people taking advantage of government system, HR3221 and some of the benefits, the unintended consequences of HR3221, valuation of properties and how auctions are part of that process, a correct version of an auction and how it brings out true value, overbids during a boom market, why auctioneers get frustrated because they are typically only considered during a downturn, builders releasing phases via auction and the benefits, if Realtors view auctions as partners or competition, how auctions work with Realtors, why auctions aren’t in the MLS, the task force between NAR and NAA, if Tommy can tell from auctions which areas are in trouble, NAA as a vast resource of statistics, how quality holds much more weight than price, if California is getting worse, the two states with the worst declines, ignoring true affordability, how we can do better in the near future, isurvived2008.com
Thomas L. Williams is a graduate of Penn State University (B.S. Animal Science) and the Certified Auctioneers Institute (CAI). Representing the third generation of Williams family auctioneers dating back to the mid-1800s, Williams is also a graduate of the historic Reppert School of Auctioneering. He has over 40 years experience in real estate auctions, land development and real estate investment. He currently serves as President of the National Auctioneers Association.
A founding partner of Williams & Williams, Williams served as president from 1986-2000, and became board chairman in 2001. He also co-founded and served as managing partner of Lowderman & Williams Auctioneers from 1965-85. He has conducted over 10,000 auctions in all 48 of the contiguous United States and Canada, and is an advisor to auctions conducted throughout Western Europe, South Africa, Australia and New Zealand.
An avid cattleman, Williams also owned and operated Bradmar Angus Farms from 1965-85, after which he continued to serve as a herd and genetics consultant for many of the nation's premier Angus cattle breeders.
Williams is a licensed auctioneer and real estate broker in over 20 states, and an active member of the National Association of Realtors.
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