Moody prefers to be busy . He sees himself as one of a few people in the state who combine two credentials: commercial real estate broker and licensed auctioneer — allowing him to auction real estate in Ohio as a Realtor and a broker.
“It’s big in the sense that most auctioneers came up through the traditional means of auctioneering,” Moody said in a recent interview at his West Dorothy Lane office.
Those “traditional means” might have meant auctioning off farm implements or household items like “pots and pans,” he said.
“There’s nothing wrong with that,” he added. “That’s how the field is. But I bring the commercial real estate side first thing.”
Moody believes he offers special expertise in the real estate field. Current Ohio law requires a Realtor license from the Department of Commerce and an auctioneer license from the Department of Agriculture to auction off real estate in Ohio.
“Ric Moody is probably one of the best all-around commercial brokers that I’ve met in Ohio,” said Barry Baker, owner of Columbus-based Ohio Real Estate Auction and employer of 45 real estate auctioneers.
Baker has known Moody for a decade and said there aren’t a lot of real estate professionals who, “have that arrow in their quiver,” as commercial real estate brokers and licensed auctioneers.
It’s not just commercial or industrial properties you’ll find on the proverbial auction block. Increasingly, auctions are a tool for homeowners who may be tired of waiting for the right buyer to come along. “A lot of private (home)owners who are ones wanting to divest are looking to get out right about now,” Baker said.
“When they take it (their homes) to auction, they need it or want it sold for a sure thing,” Baker said. “They’re not just testing the waters.”
Peruse the properties on Baker’s web site — www.ohiorealestateauctions.com — and in the last few weeks you would have found a home at 456 W. Whipp Road in Washington Township, which Baker called the “Castle House.” It’s a 3,800-square-foot French Normandy-style house that will have bidding start at $200,000 at an auction scheduled for Jan. 10, 2013.
Moody grew up in the real estate business, inheriting the company his father, Paul Moody, and a partner started in 1949 (today, Moody-Woodley).
He sees strengths in the Dayton real estate market that may boost it going forward. “We’re fortunate in that we have some of the lowest (-priced) commercial real estate in the country, which is good to find,” Moody said.
Those low prices can draw outside investors. It also makes the Dayton market competitive with Cincinnati and Columbus — what Moody calls “the triangle.”
Those low prices are a dual-edged sword, though . On his web site, Moody warns potential sellers that if they wait to sell “it could be a very, very long wait. It may be many years before prices ever get to pre-recession levels again.”
He cites what he sees as other area advantages: plentiful water, a skilled and educated workforce and the world’s largest Air Force base nearby. And, the nearby intersection of two well traveled interstates, 75 and 70.
“We are still the transportation hub,” Moody said.
The commercial and industrial markets still face stubborn problems, however, including a recovery that still feels like a recession and not enough of what Moody feels might be the right kind of industrial space — about 10,000 square feet, a medium-sized space that he said is all but “impossible to find locally.”
Of course, the area needs businesses that require the properties that are available, too.
“I could give you office space (for free), but if somebody doesn’t need it, they’re not going to take it,” Moody said.
About the Author
