Sachs 5th Auction adds real estate to its list of auctioning services
True to their slogan, the crew at Sachs 5th Auction have made it happen. Early this year, the 13-year-old auction house in Belen teamed up with United Country to add real estate to its list of services.
Sachs 5th co-founder, award winning auctioneer and licensed New Mexico real estate broker Lorraine Sachs Garcia, said combining real estate with auctioning has always been a dream of hers.
“I always knew real estate and auctioning belonged together,” she said.
Sachs said the auction business started by accident, but that it was her husband, Anthony Garcia, who thought up the idea.
Because it was decided Sachs was the more outgoing of the two, in 1996 Sachs found herself traveling to St. Joseph, Mo., to attend the Missouri Auction School. In the beginning, she said, she was apprehensive about going because “in those days it was a man’s thing” and “there were hardly any women at all.”
But despite it being a male-dominated trade, in 1999 Sachs placed third in the International Auctioneer Championship women’s division.
Sachs 5th Auction now offers both traditional and auction real estate services. With this growth came the recent addition of three new team members, which includes realtor Louisa Baca, who is new to realty but had 27 years in car sales.
“I realized I didn’t want to be an old lady selling cars, I wanted to be an old lady selling real estate,” said Baca, laughing.
Also joining the team are qualifying broker Charles Fredric McClaugherty, whose credentials include work with Ben Brooks and seven years of ranch and subdivision sales, and associate broker J. Anthony Chavez, a Belen native, who had eight years experience in commercial land and residential sales and who is a foster parent and the auto-mechanic instructor at Belen High School.
Sachs says she is considering adding two more people to the team, but said finding the right person to share “the vision” is important. And that vision is to make real estate auctioning the way of the future.
“People think auctions are the last resort,” said Sachs, “Auctions are not the last resort, they are the first resort.”
Property owners can approach Sachs 5th Auction directly to have their property listed and get the option to either have it sold traditionally or by auction. If the owner chooses to sell by auction, he or she has three auction types to choose from: “absolute,” which allows the property to go to the highest bidder; “reserve,” which allows the seller to set an amount in which the property can not be sold under; and “minimum bid,” where the first bid must match or be higher than the set minimum amount.
Property listings will appear on the Sachs 5th Auction’s website prior to the auction so that interested buyers can become familiar with the property before making a bid.
The auction itself, which is anticipated to happen every 90 days, will have a live internet broadcast so that bidders around the world have the opportunity to get in on the action.
The team agreed that the real estate market is not as bad as it might seem and that people are buying. In fact, they said recently they received contact from 495 parties interested in one online listing for a horse farm. Sachs said their goal is to help “keep the money rolling for the economy.”
“We want people to know we’re not stuck in old ways,” said Baca. “We’re new and fresh and excited. We’ll work hard for a customer.”