Dayton Commercial Realty uses auctions and video to meet its customers’ needs.
Commercial real estate can be a competitive market, but Dayton Commercial Realty is taking steps to stay ahead of its competitors. Reaching markets from Piqua to the outer belt of Cincinnati and beyond, the firm offers a “one-stop shop” approach that offers benefits for both potential buyers and sellers.
“Our method is more compact because we are (all) in house,” says Ric Moody, broker and auctioneer at Dayton Commercial Realty. “Customers don’t have to look for an auctioneer because we have that.”
After a friend called Moody about getting involved in auctions, Moody decided to get his auctioneer’s license. Since then, Moody has auctioned off commercial real estate and some other interesting items. He has helped auction off a lake in Mechanicsburg; sold ceiling tile, frames and metal grid from an old junior high school, sold a three-foot high ACDelco spark plug; and sold doors right off their hinges.
“At times I am not surprised at the things we auction off,” says Moody. “We can technically auction all over the state, including near Lake Erie and northeast Ohio.”
Moody says that being an auctioneer is one of the oldest professions in the world, dating back hundreds, if not thousands, of years.
“Our customers are happy because they don’t want to be foreclosed on and really want to dispose of the property rather than pay more to upkeep it,” says Moody. “Auctioning is becoming more prominent in commercial real estate.”
Along with not having to pay the mortgage, insurance and taxes on properties, most of the buyers that come to auctions are looking to buy and there is assurance that the property will sell that day. This gives Dayton Commercial Realty a leg up, allowing the company to auction properties off with benefits for both the seller and buyer.
One of the other developments that sets Dayton Commercial Realty apart is its use of videos to showcase properties that are up for sale.
While the use of this method is still limited, Moody doesn’t think that anyone else in the Dayton market is using video as a way to sell properties.
“We can show everything and tell a story in two to three minutes so the audience can see it and increase the potential buyer experience,” says Moody.
Though the use of video is new to the business, Dayton Commercial Realty received three phone calls about a pizza shop it highlighted with video in just two days, proving that their video method worked.
“People called us saying, ‘I just saw your video and I have a couple questions,’” says Moody. “People have also commented on the video saying ‘very informative.’ That lets us know that the use of video is working. It’s the cutting edge of technology and we see the process moving toward something greater.”
In the future, Moody would like to see the use of aerial drones, so buyers can see the landscape and parking availability for the business as well.