How to Choose the Right Real Estate Agent for You

Posted

When you go through the process of buying or selling a home, your real estate agent is your number one resource and the key to your success. Your agent should be able to guide you through the nuances of the local market, understand your needs, and help you implement the right strategies to meet your goals.

But with so many agencies and realtors out there, how do you possibly narrow it down to the right person for you and your current or potential home? We’ve gathered some of the best advice below to help you make your decision!

Start with some independent research.

The easiest way to start your search for an agent is by looking into local agencies and independent realtors online. Read customer reviews to get an idea of what it’s like to work with the different agents you find and check their websites for listed experience, licensing, and other standout qualifications. You can also ask friends (on social media and in person) for referrals of agents with whom they’ve had a good experience.

Meet with potential candidates.

Once you’ve narrowed it down to a couple of your top choices, you should meet with potential agents in person to get a better sense of their personality and professional style. Ask a few questions that will help you determine if they’re prepared to meet your unique needs, such as:

  • How long have you worked in the local real estate market?
  • What is your average list price-to-sale ratio?
  • Do you work more often with buyers or sellers?
  • What is the average Days on Market for your listings?
  • How many clients do you typically work with at a time?
  • Can you provide any references?

Choose someone you connect with.

For the best experience and results buying or selling a home, you need to work with an agent who makes you feel comfortable voicing your questions and concerns. They should communicate with you openly and frequently, so you never feel overly stressed or lost during the process. You should feel confident that your agent fully understands your expectations and will do what’s best for you and your current or future home.

Looking to buy or sell a home in or around Woodward, OK? The agents at Smith & Co Real Estate are prepared to do everything it takes to find the right buyer for your sale or new property for you and your family. With our extensive experience and bonafide success rate, there’s no one better to guide you through the local market.

Give us a call at 580-254-3975 so we can get you started with the right team member!

Mineral Trends

Posted

The mineral market is currently experiencing a period of significant growth and transformation, as global demand for minerals and natural resources continues to rise. This trend is being driven by a number of factors, including the growing global population, the increasing demand for consumer goods and infrastructure, and the rise of renewable energy technologies.

One of the key drivers of the current mineral market is the increasing demand for metals such as copper, nickel, and lithium. These metals are used in a wide range of applications, including renewable energy technologies such as solar panels and electric vehicle batteries. As countries around the world seek to transition to cleaner energy sources, demand for these metals is likely to continue to rise.

In addition to metals, there is also growing demand for minerals such as phosphate, which is used in fertilizer production. With the global population continuing to grow, and demand for food increasing, there is a growing need for phosphate to help increase crop yields and improve agricultural productivity.

Another trend that is impacting the mineral market is the increasing focus on sustainability and ethical sourcing. Consumers and businesses are increasingly looking for products and materials that are produced in an environmentally responsible and socially sustainable manner. This has led to growing demand for minerals and other natural resources that are sourced from sustainable and ethical sources.

Despite the positive outlook for the mineral market, there are also a number of challenges that must be addressed. One of the biggest challenges is ensuring that mineral resources are extracted in a responsible and sustainable manner. This includes minimizing the environmental impact of mining and ensuring that workers are treated fairly and paid a living wage.

Another challenge is ensuring that the benefits of mining are shared fairly with local communities. This includes providing employment opportunities and supporting local development initiatives.

In conclusion, the current mineral market is characterized by growing demand for a wide range of minerals and natural resources, driven by factors such as population growth, increasing demand for consumer goods and infrastructure, and the rise of renewable energy technologies. While there are challenges that must be addressed, the outlook for the mineral market is positive, with opportunities for sustainable and responsible growth in the years ahead.

This is a lot of information to understand but thankfully, you don’t have to understand it all.  That’s what we are here for.  Ira  has 40± years experience with oil and gas mineral rights.  Whether you’re looking to buy or sell, or just want to chat about the markets, call Ira 580-334-6001.

Tips for First-Time Commercial Real Estate Investors

Posted

Commercial Real Estate Agent in Woodward, OK

Any kind of real estate that will be used to run a business or generate profits is considered commercial property. This can include empty buildings, buildings with businesses already in them, rental properties, and land which you plan to use for profit. Commercial property can be a lucrative investment if you take the time to do your research, find the best real estate, and use it wisely.

If you’re thinking about taking the leap into the world of commercial real estate ownership, here are some tips to help you make the right investment!

Start by identifying the needs and goals of your business.

If you don’t know what you want to accomplish with your property, you won’t be able to determine which properties on the market will best fulfill your needs. Before you even begin your search, sit down and answer some fundamental questions about your business and the characteristics of your ideal property. Here are a few questions to get you started:

  • What are you planning to do with your property?
  • What type of property will work best for your business? Retail shop? Office complex? Warehouse? Rental units?
  • How much can you afford to put down? What can you afford in terms of maintenance and utility costs?
  • What location will be ideal for your business?

Work with a team of experts to find the right property.

Especially if you’re new to commercial real estate investment, it’s important that you partner with other professionals to help evaluate properties and, eventually, acquire one. Look into hiring a commercial real estate agent, broker, inspector, appraiser, attorney, and possibly even an accountant. At this time, you’ll also want to start working with a financer—a bank, credit union, private mortgage company, etc.—to explore your financing options and determine exactly how much money you’ll have to work with.

Do your due diligence before closing the deal.

Real estate of any kind is a big investment, so it’s important that you do your “due diligence” before making anything official. This essentially means learning everything you can about the property and ensuring everything with your contract is in order before signing.

For a commercial property, you’ll want to order an ATLA (American Land Title Association) survey to give you history and detailed information on the property and its relevant surroundings. Then, you should run the numbers (this is where an accountant comes in handy) to analyze risk/reward potential. Finally, have a commercial real estate lawyer look over your deal before you sign to make sure everything is correct and fair to you.

At Smith & Co. Auction & Realty, we have commercial real estate agents ready and willing to work with you every step of the way to find your perfect commercial property in Woodward, Oklahoma. Looking to streamline your sale? We also hold commercial real estate auctions with incredible properties for amazing deals.

Contact our team today to discuss your commercial real estate needs!

An FAQ On Online Auction Bidding

Posted

Online Auctions in Woodward, OK

Internet and smartphone technology have truly revolutionized different industries far and wide—and the auction industry is no exception. Virtual auctions and mobile apps make it easy for bidders and buyers to connect quickly and from the comfort of their own homes. Here at Smith & Co Auction & Realty, we like to make it as simple as possible for our sellers to sell and our buyers to bid. In addition to the traditional live auctions we hold throughout the year, we also host online auctions and give interested buyers the opportunity to bid in both live and online-only auctions right at their fingertips.

Bidding is made easy through our mobile app and straightforward online platform, but for first-time online auction participants the process can be confusing. That’s why we’ve put together a step-by-step rundown explaining how to register for an online auction, put in a bid, and optimize your virtual auction experience!

Types of online auctions:

We hold two types of auctions in which you can bid online. The first is a Simulcast Auction. This is a combination of a live and Internet auction. It’s a live, on-site auction with in-person bidders AND the availability to bid online during the live auction from your computer, phone, or tablet.

The second type of virtual auction experience we offer is an Online Only Auction. This is an auction that is held exclusively online with no live in-person bidding available.

How do I register for an online auction?

To register from your computer, laptop, etc.:

  1. View the www.smithcoauctions.com website. Click the ‘Bid Online’ tab. Current auctions will be displayed on the screen. You will see a button for the Catalog, Registration and Auction Details. The Auction Details will contain the terms and conditions of the Auction. You will be required to check a box during registration agreeing to the terms and conditions. If you have any questions or if any of the information is unclear to you, please contact us.
  2. Click the “Register to Bid” button on the page. It will pull up a Bidder Login Box. If you have registered before please type in your Username and Password. You will then be taken into the bidding area of the auction. If you are a new user there is a link below that says “New Bidder? Click Here”.
  3. The first step for new users is to verify a valid email address. Each account must have a valid unique email address. Please type in the email address and confirm. Then click the “Check Email” button. The system will check that the email address provided is not being used.
  4. Fill out all of the required information on the form accurately and in its entirety. You will need to enter a unique Username that is not being used and Password. Confirm the password. Check your desired account options and click the “Create New Account” button. A welcome screen will show that your account has been created. Please keep your Username and Password in a safe place. You will need this to log in later.
  5. Click the “OK” button. This will take you to the credit card screen.
  6. Click the “Add/Edit Payment Options” button. A box will ask if you want to leave the page. This takes you into the secure area in your account to record your credit card information.
  7. Click the “Leave Page” button. This will open up your Payment Methods under your account. Please enter the required information and click the “Save Payment Information” button. A box will appear showing that the payment method has been saved. Click “OK”.
  8. Click the “Return to Registration” button. At this point you will be registering for this specific auction. Under the Payment Method Verification click the circle for the card you just entered. At this point, you can also send a message to the clerks—for example, let them know your Farm Tax ID# to avoid tax, etc. View the Terms and Conditions. Check the box that says “By checking here you acknowledge that you have read and accept the terms and conditions.”
  9. Click “Submit Registration” button. A box will appear that says that you have been successfully registered. Click “OK”. You now will be in the bidding area of the website. Happy Bidding!

To register from your iPhone, iPad or Android device:

*YOU MUST KNOW YOUR APPLE ID AND PASSWORD

  1. Open the ‘App Store’ and click on Search (the magnifying glass). Type ‘Smith & Co Auctions’ and download the app.
  2. Open the app and click on the red ‘Auctions’ button.
  3. Scroll to the auction you are interested in and click on the ‘Register’ button. It will pull up a Bidder Login Box. If you have registered before, please type in your Username and Password. You will then be taken into the bidding area of the auction. If you are a new user there is a link below that says “New Bidder? Click Here”.
  4. The first step for new users is to verify a valid email address. Each account must have a valid unique email address. Please type in the email address and confirm. Then click the “Check Email” button. The system will check that the email address provided is not being used.
  5. Fill out all of the required information on the form accurately and in in its entirety. You will need to enter a unique Username that is not being used and Password. Confirm the password. Check your desired account options and click the “Create New Account” button. A welcome screen will show that your account has been created. Please keep your Username and Password in a safe place. You will need this to log in later.
  6. Click the “OK” button. This will take you to the credit card screen.
  7. Click the “Add/Edit Payment Options” button. A box will ask if you want to leave the page. This takes you into the secure area in your account to record your credit card information. Click the “Leave Page” button. This will open up your Payment Methods under your account. Please enter the required information and click the “Save Payment Information” button. A box will appear showing that the payment method has been saved. Click “OK”.
  8. Click the “Return to Registration Button”. At this point you will be registering for this specific auction. Under the Payment Method Verification click the circle for the card you just entered. At this point, you can also send a message to the clerks—for example, let them know your Farm Tax ID# to avoid tax, etc. View the Terms and Conditions. Check the box that says “By checking here you acknowledge that you have read and accept the terms and conditions.”
  9. Click “Submit Registration” Button. A box will appear that says that you have been successfully registered. Click “OK”. You now will be in the bidding area of the website. Happy Bidding!

We highly recommend that you DO NOT wait until the last minute to register to bid. While you may wait to place your bid at a later time, by registering in advance you can rest assured knowing that you understand the bidding tools. It is important that you familiarize yourself with all the terms and conditions BEFORE BIDDING.  The terms of sale are non-negotiable.

Why do you need my credit card information?

Just like with a live auction, we must verify that you have funds available to make a purchase. Your credit card information is kept secure; we do not share this information. We will run an authorization charge of $1.00. Once the credit card company has approved this authorization, the $1.00 is refunded back to your card and you will be granted permission to begin bidding. In the event that you are a winning bidder, we will charge purchased items to the credit card on file.

How do I bid?

Once you have completed the registration process and have your secure bidder number and password, select the auction you wish to bid on. Click the large button that says “Click Here to Bid Now.” Once the new page has opened you may type in your bid amount to place and, if you would like, a maximum bid amount. Then, scroll down to type in your bidder number and password. Click “Submit Bids.”

Please carefully review that the information you have entered for accuracy before submitting bids. Once you submit the bid, the bid cannot be canceled and is binding.

Do I have to pay any fees to participate in an online auction?

No, you are not charged any fees to participate. However, to register to bid, you will have to provide credit card information so we can run the listed authorization amount of $1.00.

Do I need to register for each online auction?

No. Once you have registered with us your account will remain active. You will only need to log in with your username and password that was created during the registration process. Terms will vary with each auction though, so when bidding in a new one you will have to accept the terms and conditions for that particular auction.

How do I know if I am winning a lot?

When viewing the online auction, you will see your name at the top of the form. Hover over your name and a drop down menu will appear. Click on the current bids and you can see the status of your current bids.

What if I get outbid just before the lot closes?

Most of our online only auctions are set to “soft close.” This means that if someone bids in the last 2 minutes before the item closes the bidding will be extended by 2 minutes so you will be have additional time to place another competing bid.  This mimics a live auction setting. 

*Note: You have to be viewing the auction item as it is closing to notice this.

What is a maximum bid?

By placing your maximum bid, the system will automatically place bid increments for you in predetermined amounts (as explained in the auction terms). This will increase your bid if your original bid is topped by another bidder. The maximum bid feature speeds up the auction process and assists you with your bidding. If another bidder bids higher than your maximum bid, the system will stop increasing your bids and you will have to increase your maximum bid amount in order to continue competitive bidding.

Can I cancel an unwanted bid?

No, bids cannot be cancelled once they have been placed. By placing a bid you are entering into a binding contract. There are no refunds or bid cancellations. The registered bidder is personally responsible—legally and financially—for all auction items bid upon, whether representing one’s self or acting as an agent.

An online bid accepted at public auction is a legal and binding contract to purchase. Any bidder who fails to consummate a purchase will be banned from bidding at all future seller auction events and may be pursued for civil and/or criminal violations.

How do I know if I won a lot after it has closed?

You will most likely see a notification ‘may have won’.  This is because the software has to process all bids before confirming ‘sold’.  Once all items have closed and the online auction has ended, you will receive an email from Smith & Company Auction & Realty, Inc. that will confirm items won and a paid receipt. 

*Note: This email is typically received 1-2 hours following the close of the auction.

What if I cannot bid online?

Please contact our office and we will be happy to assist you through the bidding process. 

Can I inspect real estate/personal property prior to bidding?

Yes! We offer preview days for all of our personal property auctions.  If you wish to preview real estate, Ira Smith is happy to assist you and can be reached at 580-334-6001.

What is the buyer’s premium?

A buyer’s premium is a percentage paid by the buyer to the auction company on top of the winning price. While some auction companies charge upwards of 15%, at Smith & Company we try not to gouge you for purchasing at our auctions. Our buyer’s premium is 3% for personal property. We never charge a buyer’s premium for real estate!

If you are interested in bidding in one of our auctions, online or otherwise, please visit our upcoming auctions page for updates. If you have any questions about online or mobile auction bidding, contact the Smith & Co Auction & Realty team today and we will be happy to help!

3 Tips for Snapping Picture Perfect Real Estate Listing Photos

Posted

In the age of laptops, tablets, and smart phones, real estate buyers are relying more and more on the Internet in their preliminary search for the perfect property. For sellers, that means your online listing is your first (and best) chance to pique interest on the market.

As prospective buyers are scrolling through the dozens of houses for sale in your area, it’s the pictures that will be capturing their attention. If you want your listing to stand out above the rest, use these tips to take killer photos of your home!

1) Clean and stage your house ahead of time.

Your listing photos are your home’s first impression on potential buyers, which means they need to showcase your space at its best. Before you get your camera out, take the time to get your house ready the same way you would for an in-person showing. Go through each room and deep clean, declutter, and depersonalize to get rid of that lived-in look (outside and inside!). Then, stage your furniture and décor to make your space look inviting and highlight the best features of your home.

2) Choose your angles and positions wisely.

Taking attractive photos that display your space honestly is all about angles and positioning. If you have a wide-angle lens, it’s going to be your best friend when it comes to showcasing the size and layout of your home accurately while getting a full feel of each room. If you don’t have one, shoot from the doorway or corner to capture as much of the room as possible.

Keep your camera at chest height and shoot straight on. Angles that are too high or low can distort the scale and misrepresent the size of your space. Plus, it will help viewers feel like they’re actually in your home when they look at your pictures.

3) Lighting is everything.

Natural light makes a home feel warm and inviting—something you’ll want to take advantage of for your listing pictures. Plan to take your interior photos when the natural light is best in your space (this could be in the morning or later afternoon, depending on which direction your house faces). Clean your windows until they sparkle and open your curtains to maximize the amount of sunlight streaming through. You should also turn on all interior lights, to show viewers that they work.

For exterior shots, just make sure the sun is positioned behind your camera to illuminate your property without casting shadows in your photos.

When you work with Smith & Co Real Estate to sell your home, our professionals will guide you through every step of the process.

Not only will we help you take killer listing photos, we’ll help you market them, nail the showings they bring in, and get you the best offers for your property. Contact us today to learn more about how our realtors can put their 60 years of combined industry experience to work for you and your home!

Auction Chant: How to Better Understand the Auctioneer

Posted

It’s no surprise that many people find it confusing to unpack exactly what an auctioneer is saying.

Auctioneers are required to be very specific with their language, but we’re here to help you decipher the chant so you’re better prepared for your next auction!

The basic elements of an auction chant

An auction chant basically consists of two numbers, the have (which is the current bid price), and the want (the higher bid that is being requested by the auctioneer).

Between these two numbers is a wide array of sounds and other words inserted to add rhythm to the chant and increase the entertainment element. These filler words have purpose though, as they give bidders an opportunity to decide if they want to bid higher. In order to make it seem like they are talking faster than they really are, auctioneers will purposely slur words to shorten them.

This means there’s less time between the have and the want.

In addition to the have and the want, there is the next. When someone accepts the want and that number becomes the new have, the new want is known as the next.

At any time, the auctioneer will have 3 numbers in mind, the have, the want, and the next.

When the highest bidder is found, the auctioneer will give audiences one last chance to bid on the item. When they say “going once, going twice, sold,” it’s the last call for anyone to take the current want.

Now that you know the rules, it’s time to test your knowledge at one of our upcoming auctions! Give our team at Smith & Co. Auction & Realty a call at 580-254-3975 to learn more.

The Crop Circle Phenomenon

Posted

An aerial view of crop circle created in farm fields

Ever wonder who or maybe what is responsible for those strange crop circles that mysteriously appear in fields across the world? Crop circle enthusiasts have come up with many theories about what creates the patterns, ranging from the plausible to the absurd. Some people have suggested that localized and precise wind patterns somehow create the circles. Others suggest that the answer lies in time travel or alien life, and many who favor an extraterrestrial explanation claim that aliens physically make the patterns themselves. Still, others believe that it is human, not extraterrestrial, thought and intelligence behind the patterns.

While there are countless theories, humans are the only known, proven cause of crop circles. Their origin remained a mystery until September 1991, when two men confessed that they had created the patterns for decades as a prank to make people think UFOs had landed. They never claimed to have made all the circles, as many were copycat pranks done by others, but their hoax launched the crop circle phenomena. While most crop circles are now attributed to hoaxers, crop circle researchers still search for those that cannot be explained, “genuine crop circles” as they refer to them.  

At Smith & Co Auction & Realty, we can guarantee the purchase of crop circle-free land. Selling everything from farm machinery to 5200+ acre ranches, we are Northwest Oklahoma and Kansas’s choice for all your land auctions and real estate needs without extraterrestrial intrusions.

Contact us at (580)254-3975 to learn more about our auction services!

How to Succeed at Buying Land at an Auction

Posted

A land auction offers one of the easiest ways to invest in property. The process is very straightforward, and every potential buyer is placed on a level playing field. Here are a few things to know in order to be successful at your next land auction!

Research and be prepared

Someone Bought Land through an AuctionOften, the team of real estate agents that are running the land auction will gather information about the property and make it available to you prior to the auction. Read up on this extensive summary of the land and plan a visit before the day comes to make your bid.

Have a look around the neighborhood and research the property values of nearby land. This will help you decipher the value of the land you’re looking to buy. It will also help you determine your budget and what you’re willing to spend before attending the auction.

A land auction is beneficial for the buyer and the seller

Going into a land auction, you should know that you really can’t lose. Everyone in attendance has a fair shot of obtaining the land and you will never have to pay more than the land is worth, which protects the buyer’s wallet. If you’re a seller, you can set a reserve price which is a minimum amount unknown to the bidders. This ensures that you do not lose on your investment.

Find a land auction near you

Smith & Co. Auction & Realty deliver 100-125 live auctions a year to Northwest Oklahoma, selling everything from residential real estate to industrial equipment. Browse our list of upcoming auctions of land from 160 to 3100 acres large! Call us at 580-254-3975 today to speak to one of our experts and learn how we can help you set the best price for your land!

The Most Expensive MLB Memorabilia Ever Sold at Auction

Posted

baseball stadium under roof view with fans

With the weather warming up, it’s time to start playing America’s pastime—baseball. This sport has been reenergized when it comes to the collectible market. Over the past few decades, some incredible pieces of MLB memorabilia have been auctioned off.

Here are a few of the most expensive MLB memorabilia items sold at auction!

Mark McGwire’s 70th Home Run Ball

In the summer of 1998, Mark McGwire and Sammy Sosa were competing to break the single-season home run record of 61 held by Roger Maris. McGwire outlasted Sosa, hitting a then-record 70 home runs. A fan, Phil Ozersky ended up with the 70th home run ball, which he sold at auction through Guernsey’s for $3 million in 1999. Comic book creator Todd McFarlane purchased the ball. The combination of Barry Bonds hitting 73 home runs in 2001 and McGwire admitting to using steroids years later factored into the value of McGwire’s home run ball plummeting to around $250,000-$300,000.

“Laws of Baseball” Document

Daniel Lucius “Doc” Adams wrote a document titled “Laws of Base Ball,” which became the foundation of the American game we know today. The precious document was sold for $3.26 million by SCP Auctions in 2016. According to ESPN, the document was written in 1857 and stipulated that the ball can’t weigh less than 5¾ ounces, and the bat could be of any length but no more than 2½ inches at its widest part. The document also mentioned the game was to use four bases, 30 yards apart, with each base being one square foot.

Babe Ruth’s 1927 World Series Ring

The 1927 World Series championship ring was awarded to Babe Ruth. The ring was engraved “G H Ruth” for his given name of George Herman Ruth. Actor Charlie Sheen acquired the ring in the early 1990s, and it was sold at auction in mid-2017 for almost $2.1 million.  

Lou Gehrig 1937 Yankees Jersey

A Lou Gehrig jersey worn during the 1937 season went for $2.58 million through Heritage Auctions in 2019. The SCG-authenticated gray button-down jersey originally belonged to a family that had received it as a gift from former Yankees general manager George Weiss. Gehrig was the first MLB player ever to have his jersey number retired.

At Smith & Co Auction & Realty, we constantly hold auctions filled with high-value items. Along with our regular land, real estate, and industrial equipment auctions, we often have consignment or estate auctions that include a long list of unique items and sports memorabilia. 

Contact us today at  (580)254-3975 to learn more about our upcoming auctions! 

Four Benefits of Buying Heavy Equipment at an Auction

Posted

Tools and Equipment Auctions in OKPurchasing the right heavy equipment is no small feat. It can be difficult to find the exact equipment you need for an upcoming construction project or farming plan, especially at the time and price tag you want it at. That’s where buying heavy equipment at an auction can come in handy.

Prices that will fit your budget

We know it’s the truth: your project or farm could get by with one or two pieces of heavy equipment, but what it really needs is X, Y, and Z, too. At an auction, you can stretch those equipment expense dollars far beyond what you’d be able to do with any retail or seller. Find equipment at more affordable prices, and be open to bargain, too!

More choices at an equipment auction

One of the best parts of auctioning is that a buyer gets to see every option that’s on the table. With heavy equipment, that means older models, alternative types of equipment, or several items that could get the job done. It’s all about choices—and at auctions, you have plenty of them.

Know your seller at an auction

This might seem simple, but in an age where online sellers can remain anonymous, it’s worth every second of your time. At auctions, you’re dealing with in-person sellers who know this heavy equipment better than anyone—professionals who can tell you its value, its age, and the market price it’s being sold against. This is the sort of information you’ll want to have before making that next heavy equipment purchase.

Heavy equipment on demand

In many instances, you don’t have the days or weeks at your disposal to place an order and hope the heavy equipment comes in on time. However, at an auction, you won’t leave empty-handed—offering buyers more flexibility with their purchases. Don’t waste time any longer!

If you’re on the hunt for tools, heavy equipment and more, Smith & Co. Auction & Realty is on the job. On Saturday, April 28th, we have a live on-site auction with a hefty sale bill of tools, heavy equipment and vehicles ripe for the buy. If you don’t live nearby, online bidding is available. Call us at 580-254-3975 for more information and make sure to check out a list of our upcoming auctions!