Mel Giller Founder & President Melvin A Giller & Associates Inc.
Mel Giller is internationally known as one of the finest real estate auctioneers, while holding esteemed recognition as a lecturer, educator, and author on the marketing of real estate by public sale. Says noted real estate analyst Lewis Goodkin "Mel Giller is in a class all by himself."
Born and raised in suburban Boston, Mel Giller has over 35 years of experience in real estate as a builder, developer, marketer, realtor, auctioneer... and motivator. Although he did not invent real estate auctions per se, his pioneering efforts begun in 1975 shaped the art and craft from a rustic extension of livestock auctions to a sophisticated blend of public sales and real estate know-how.
Observing the success of art, jewelry and antique auctioneers -- especially in establishing public market values (pricing) -- Mel founded his first real estate auction company, Nationwide, in 1975. His peers thought he was crazy, bucking traditional real estate methods for a technique traditionally known in the industry for unloading distressed properties. But Mel dared to be different. He wanted to add what he believed was a missing dimension, a unique tool, to real estate sales potentials.
Soon Mel began to set real estate sales records through the auction program, not only of volume, but of price achievements... in both strong and weak markets. At times, his auctions generated total sales exceeding what many perceived to be market values and made national headlines. Mel's company was featured on the cover of FORUM Magazine, the only auction company ever to receive such accolades.
A real estate sales record, which has not been exceeded since set by Mel Giller in 1986, occurred when his auction of condominiums in Bal Harbour, Florida, resulted in the largest single day sale of residential property in US history. To an audience off over 5000 qualified buyers, Mel sold 280 condominiums individually, for a grand total of $24.5 million. Real estate analyst Lewis Goodkin stated at that time that the sale exceeded what was considered to be market price for the area by 10%.
For over three decades, Mel Giller has developed, nurtured, and refined the technique of auctioning real estate which he invented, creating an exact formula. Mel's method works -- every time -- attracting buyer and allowing him to be successful everywhere he goes. In fact, Mel Giller is the only real estate auctioneer to carry international credentials. "Buyers in all cultures react the same way to an auction," Mel observes. "An auction has no intimidation for a buyer. It's ok if they don't bid. They feel no pressure, and they love the process!"
Over the years, Mel has sold in excess of 10,000 properties, from Hawaii to Florida to the Spanish Riviera to Thailand. His clients cite his excitement, his experience, his expertise, his professionalism, his enjoyable personality, and a long list of accolades. He is able to go into the most distressed real estate markets in the world, presenting one successful real estate auction after another. Mel himself credits careful research and attention to detail for his victories. His tried and true real estate auction formula, a "powerful, powerful program" in Mel's own words, has made success synonymous with the Giller name.
1975 Founded Nationwide Auction Company in Tucson, Arizona, providing an alternative method for marketing real estate. Conducts auctions on properties of every description, for the most part specializing in the sale of land.
1978 Started selling individual properties by auction in Southern California, constantly refining and discovering new techniques. Mel's reputation leads to a series of lectures to real estate groups throughout California.
1980 Sold the first major luxury estate at auction in Northern California. The property had been listed by two of the most prominent brokers in the area without even receiving an offer. Mel's success led to the auction sales of other similar properties.
1981 During the worst real estate depression in nearly 50 years, Mel booked the largest number of real estate units ever to be auctioned in a day, of 132 condominiums and 65 developed homesites at Indian Palms Country Club in the desert area of California. Associated Press picked up the story, beginning Mel's national recognition for a sales technique previously used only for bankruptcies or foreclosures.
Other 'firsts' at this time: first group of luxury homes ever sold in Orange County by auction; first group of homes in a luxury subdivision in San Francisco Bay sold; first multimillion dollar assemblage of commercial properties ever sold at auction; first auction sale of a subdivision in Mexico, at Cabo San Lucas.
1982 Mel Giller brings his real estate auction expertise to Texas, producing many millions of dollars of sales in a state ravaged by oil losses. He expands the auction program to many other market areas which begin to witness this major selling phenomenon.
1986 In a market overly burdened with inventory, sales of the Plaza of Bal Harbour, a prime oceanfront high rise in a highly desirable location just outside Miami Beach, amount to just 24 sales in 18 months.... until Mel Giller steps in. On a Saturday morning in March, Mel Giller conducts the largest one-day sale of a single property that remains a record to this day. With an audience of over 5000 people, Mel Giller auctions 280 condominiums, one at a time, without a minimum bid or reserve, in a marathon that lasts 10 hours 40 minutes and brings total sales of $24.5 million. 'Smart money' around town had predicted approximately $60-65 per square foot. Final tallies average over $70 per square foot. There are 117 back-up bidders. 'Flake-outs' and other various reasons cause 32 sales to cancel the day after the auction, and they are all replaced within 3 days at auction prices, with many still waiting in the wings in case any other sales fall out. A new chapter is written in the profession of real estate auctions.
1989 An auction held in Malaga, Spain, on the Costa del Sol, introduces auction talents of Mel Giller and his team to European soil. Over 800 people attended the sale to bid on 27 villas, and all were sold successfully in less than 90 minutes. This success led to other auctions in Europe.
Mel Giller also introduces multi residential auctions into New York and New Jersey, with a string of successful auctions producing tens of millions of dollars in sales over the next two years.
1991 For the first time in New York City history, the Grand Opening of a new luxury high rise condominium complex is done through an auction. The pre-auction promotion brings 25,000 to tour the building, grounds, and decorated models. More than 3000 people attend the auction to bid on 77 condos in the 27-story building in Forest Hills, Queens -- 35% of the building's inventory. In four filled-to-capacity ballrooms, with the auction carried via television monitors from the main room, the residences are sold for a total of $15 million in five hours. The sale averages $190 per square foot in a depressed market where, in the best of times, condos in the area average $200/sq.ft. It is believed to be the first time in the history of New York City real estate that a significant portion of a luxury building's apartments is offered -- and sold -- on opening day. Even after the gavel fell on the last unit, prospective buyers remain to talk to sales representatives and explore a negotiated purchase at post-auction prices. The sale makes headlines in all major real estate publications in New York and nationwide. This helps establish enormous respect for the power of the auction from many who were, prior to this sale, nonbelievers in the auction program, including the National Association of Realtors, which is swayed by this and subsequent real estate auction achievements to endorse and encourage the auction as a marketing alternative to its 900,000 members.
Mel opens an office in New York City and continues to draw attention of the real estate world with his auctions.
1999 into the 21st Century Mel Giller continues his auction success, spreading to Canada, Spain, and Portugal. He discovers his unique real estate marketing skills to be in much demand in Southeast Asia and selects Thailand as a base of operations. In 1999, over 3000 people attend 5 auctions in Thailand conducted by Mel Giller and Associates during a 5-month period in 1999. Over 200 residential properties are sold much to the delight of buyers and sellers.
Auctions continue for the next few years in Thailand with enormous triumphs, inspiring the local market place to once again purchase residential properties.
Today, Mel Giller is an international phenomenon in the world of real estate sales. His proven methods of auction sales have been praised, recognized, respected and adopted (by many who've learned firsthand from him) in the industry. "There are still those with tunnel-vision, who will never convert their sales and marketing methods... but that's their problem!" concludes Mel.