22 Jun Lambert Premier Auctions Merges with Precision Real Estate Auctions
As of June 2021, Precision Real Estate Auctions is proud to announce a merger with parent company Lambert Premier Auctions. This merger marks the beginning of a new era for real estate auctions in Western Canada, as the two companies join forces to tackle the growing concerns of buyers and sellers in today’s complex market.
While Lambert Premier Auctions has traditionally focused on luxury auctions, the merger has expanded this scope to both luxury, non-luxury residential, and commercial real estate markets. Now, the company aims to bring real estate auctions into the mainstream, prioritizing transparent, cohesive processes for buyers, sellers, and agents.
The History of Lambert Premier Auctions
Founded in 2009, Lambert Premier Auctions sold its first property, Nautica Vista in Kelowna, BC, at an unreserved auction. This was the first regional sale of over $4M in 19 months and its success proved the auction model could work in the Canadian market.
From there, former Lambert CEO Alec Lambert began to lay the groundwork for a more complete, robust auction system in Canada. The company continued to improve its business model while successfully selling more properties such as Harvest Ridge, the first regional sale over $5.5M in 2016, and Solaris, which was sold in 2019 in just 55 days after being listed on market for over four years. As they worked, they noticed parallels between the problems auctions could solve in luxury markets as well as residential and commercial ones. The Lambert Auctions team began planning for further expansion of their services, testing and re-testing their methods across new markets.
Lambert Premier Auctions has always upheld values of commitment and community and aims to have a meaningful, measurable impact on the areas it serves. Since 2009, the auctions have generated over $1,000,000 for local non-profit organizations in the areas of health care, community development, and the environment. Nautica Vista raised $72,500 for charity and all Madrona Grove auction proceeds were donated to the BC Cancer Foundation.
The Launch of Precision Real Estate Auctions
In September of 2020, Lambert Premier Auctions launched a new division, Precision Real Estate Auctions, to offer an auction model solution to the broader residential and commercial real estate markets. The new division launched with three auctions in its first quarter, further cementing the need for this offering in the market. All three sales were done virtually through an online auction platform that brought in buyers from across the country.
Seeing the success of the new division led by Daniel Lambert, the company decided to put more focus on the residential and commercial real estate market. Daniel Lambert was appointed CEO and Lambert Premier Auctions was merged with Precision Real Estate Auctions.
Continuing on with the values Lambert Premier Auctions upheld, Precision Real Estate Auctions is proud to support local charities non-profit organizations in the areas of health care, community development, and the environment.
Bringing Real Estate Auctions Mainstream in Western Canada
With this merger, Precision Real Estate Auctions is able to offer an adaptable platform to support sellers, realtors, and buyers while broadening the auction market across Western Canada. While Precision continues to expand into the broader residential and commercial markets, it will continue to serve high-end properties with its luxury auction package.
By empowering buyers with transparent bidding and in-depth due diligence, increasing profits for sellers through competitive systems, and improving agent’s client bases by introducing more qualified buyers, real estate auctions provide lucrative, clear, and efficient processes for all parties involved. Going forward, the team looks forward to taking the next step in sharing their services with innovative homeowners and realtors.
Interested in real estate auctions? Whether you’re a buyer, seller, real estate agent, or just someone curious about the process, our experts would be happy to speak with you. Contact us for more info.