Recently, I had the opportunity to sit down with Stacy and Rodney Kennedy of Pacific Auction Exchange (PAX) in Pleasanton, CA. I know Stacy from the Realtors Marketing Association and the Valley Marketing Association meetings.

Stacy is another blogging convert. That Pat Kitano is a blogging evangelist!

It took about 4 minutes of listening to Rodney and Stacy to realize that I had a total misconception of what the PAX business model was. I had assumed that Pacific Auction Exchange dealt with clients who needed to auction their properety under financial duress.

As it turns out, PAX auctions all kinds of property in all kinds of situations. They have had some terrific results auctioning properties that were sitting on the market and seeing no action for more money than the original asking price. 

PAX made the front page of the Contra Costa Times on Nov. 14, 2006 when they succesfully auctioned a Discovery Bay home. The auction took 4 minutes and, according to the article, left the sellers happy with the price and PAX.

Stacy and Rodney are great people.