A 6,300-square-foot, yellow brick American Colonial Revival home, built in 1889 on a prominent Clifton gaslight street, seems an unlikely candidate for an auction.

But after trying to sell the six-bedroom home the conventional way last fall, owners Elizabeth and Robert Burroughs turned to Penny Worley Auctions of Maineville this spring. Downsizing baby boomers, the Burroughs already had purchased a smaller home.

“There’s an equation of what works (at auction) and what doesn’t,” says Worley, who auctions residential and commercial properties, and equipment. “Being unique is important. So is the neighborhood, and being in an emerging market. Having an auction puts the seller in control.”

The buyer pays the 10 percent commission, saving the seller money, while the seller establishes and pays for the marketing budget. That include flyers, media and web ads, a major yard sign and e-mails to Worley’s 60,000-person contact list. The Clifton Avenue property, valued at $778,700, was being sold on reserve contract at its May auction.

The real estate auction market continues to be one of the fastest-growing industry sectors, generating $58.4 billion in revenue in 2007, up 5.3 percent over 2006, according to a Morpace Inc. study commissioned by the National Auctioneers Association. The NAA launched the first real estate auction multiple-listing service in 2007 (www.auctionmls.com) and partnered with Auction Network to develop a 24/7 multimedia auctions network.
 

Colliers Turley Martin Tucker promoted Don Murphy to senior vice president. Meanwhile, recent University of Cincinnati real-estate graduate Stanley Wells Jr. joined the firm’s Hartmann-Ryan Team as an office specialist. The team, specializing in leasing and sales of office properties locally and nationally, completed more than 110 transactions valued at more than $85 million last year. Wells, who had internships in several Procter & Gamble offices, is founder of You See Potential, a youth mentoring program.

Janice Urbanik was tapped to lead Syniad Ltd., a newly formed subsidiary of Construction Process Solutions Ltd. of Cincinnati. Syniad helps specialty trade contractors and design firms build business by improving their strategic plans, internal processes and teamwork. Before joining Construction Process Solutions three years ago, Urbanik was a manager at Procter & Gamble.

MSNBC’s Tucker Carlson will be the keynote speaker at the annual UC Real Estate Dinner, June 4 at the Duke Energy Center. The program includes awards for distinguished service and student of the year. National City Bank is the sponsor. Information: www.business.uc.edu/realestate.

Steven L. Timmel and Jeffrey J. Johnston, senior sales vice presidents at Grubb & Ellis/West Shell Commercial, were honored with Grubb & Ellis’ Circle of Excellence Awards. They work in the firm’s Institutional Investment Group, where in 2007 they completed 46 transactions with a combined value of $116 million. Timmel has 20 years of brokerage experience and Johnston is a 16-year veteran of the commercial real estate industry.

NAI Bergman named Mamie Johnson a portfolio manager in its Blue Ash office. Johnson will manage repair and maintenance services, and assist in lease negotiations. She has more than 20 years of experience in property and facility management with companies such as Sara Lee Foods and Hewlett Packard.

The Swanepoel TRENDS Report 2008 honored both Re/Max and Columbus-based Real Living Inc. in the “Top 10 Trendsetter” and “The Most Promising New National Brand” categories, respectively. The report, authored by RealtyU Group Chairman and CEO Stefan Swanepoel, recognized Re/Max for offering more than 90 percent of all listings on its website and garnering the top number of hits of all national real estate firms’ websites. Real Living CEO Harley E. Rouda Jr. and President Kaira Sturdivant Rouda were ranked No. 6 on Swanepoel’s Newsmakers of the Year list.

UC College of Business graduate students Bryan Beischel, Thomas Callihan, Cynthia McCoy and Jameson Muth were finalists in the annual real estate case competition for graduate students, hosted by George Washington University School of Business. The UC team placed in the top six of 15 groups from various schools.

Anne Mitchell, former corporate communications director for the Drees Co., is now communications manager of Kao Brands Co. at its North American headquarters in Cincinnati. Kao’s brands include Ban, Biore, Curel, Jergens and John Frieda.

Lew Bonadies, James Christen, Patrick Moore and Sandra Tenhundfeld, all executives at Al. Neyer Inc., earned the Leadership in Energy and Environmental Design (LEED) Accredited Professional designation from the United States Green Building Council. Bonadies is vice president of marketing, Christen and Moore are directors of architecture, and Tenhundfeld is a senior design associate.

Local real estate news may be e-mailed to realestate@cincymagazine.com.