KIKO Company started with the auction business in 1945 with a simple vision and a founding belief in integrity. Dick Kiko’s eyes light up in a warm smile as he tells the story of his grandfather, Russell T. Kiko and why he chose the now famous wagon logo. “Grandpa Russ picked the wagon because he saw himself as a pioneer of the auction method of marketing,” recalls the KIKO CEO and Broker. The KIKO wagon has become a well-recognized logo representing top-notch auctions in Ohio, Pennsylvania and West Virginia. But it stands for much more.
From its humble beginnings when Russ Kiko conducted auctions on his family farm with the help of his wife, Coletta, and their 13 children to today, KIKO Company has expanded to include over 65 auctioneers and realtors. They execute over 1,000 auctions per year and also offers real estate listings through MLS, the multiple listing service offered through a Realtor. In addition managing the growth within the company, Dick Kiko is on a mission to educate people that KIKO is NOT just an auction company and to dispel the myths surrounding when and why to hold an auction.
“KIKO is not just an auction company,” said Dick Kiko emphatically. “We do so much more. We have been doing business for over 70 years because with KIKO you have industry leading options. It all depends on the seller’s goals.” He went on to explain that auctions are an effective system for sellers because, unlike basic ‘for sale’ real estate listings, an auction will bring maximum dollars in the shortest amount of time simply because of the competitive nature of the auction system. But if the seller’s goal is a ‘for sale’ listing KIKO works because in addition to the tools that all realtors use, they are able to utilize their enormous data base of buyers and market expertise to bring more value to their sellers.
Now in the third generation of family-ownership, Dick Kiko is proud to tell the story of KIKO Company. And he’s not joking about family-ownership; currently there are 34 family members associated with the Company. They pride themselves on leading the real estate and auction industries with deeply rooted core values of integrity, collaboration and family.
“These core values are the standards established by Grandpa Russ. That heritage set a strong foundation, and our history of hard work and dedication are the building blocks for our success now and in the future,” said Kiko. “Our expertise comes from being in the business for over 70 years. Smart people call KIKO first because we are able to provide them with options, either ‘for sale’ or auction.”
Myth: KIKO only does auctions.
Fact: KIKO does more than “just auctions.” KIKO brands include:
• Real Estate for Sale
• Commercial for Sale
• Agricultural Auctions
• Firearm Auctions
• Online Auctions
KIKO executes most of their auctions for owners who want the sale done quickly, with no negotiating, and at market value. “Competitive bidding drives value,” says Kiko. “An absolute auction attracts everyone who is interested because people know that property will be sold on a stated date. KIKO auctions work because we get the right people together at the right time with a desire to buy. They compete and the highest bidder wins. Competitive bidding usually stretches bidders to bid more“
Another perk to auctions, according to Kiko, is that absolute auctions are sold “as is” as opposed to real estate sales. With a real estate listing the buyer has an inspection done and can consequently request concessions of the seller.
Myth: One big misconception about auctions is that they are only for foreclosures or bankruptcies.
Fact: “The reality is less than 2% of our auctions are foreclosures or bankruptcies,” says Kiko.
Over the past few years, KIKO has moved into a modern new office in Canton, grown exponentially in marketing and brand options, and expanded their geographic footprint with the addition of an office in Tuscarawas County.
Additionally, KIKO utilizes nationally recognized marketing and advertising techniques as well as cutting-edge technology to promote their auctions and “For Sale” listings to the general public. KIKO has a database with over 500,000 contacts, and The KIKO Auction Press, a bi-monthly newspaper, advertises all upcoming KIKO auctions to over 8,000 subscribers in 48 states. Finally, Kiko says the KIKO website (www.kikocompany.com) is one of the leading sites in the industry. “Our website receives over one million unique site visits each year. Colton Kiko, the first 4th generation sales associate, echoed Dick’s sentiment: “We use social media, such as Facebook, LinkedIn, and LoopNet to add another layer of interaction with our clients.”
Nothing is too big or too small for the KIKO Company. “KIKO converts assets into cash. Whether you are selling a shoebox or a full warehouse of stuff, a home, commercial property, a single tractor, a fleet of heavy equipment, oil & gas mineral rights, a business, antiques & collectables, firearms, or vacant land we are the trusted asset advisor you call to help reach your goals,” said Dick Kiko. “Smart sellers explore all their options with KIKO.”
Watch for our continued series focus on KIKO Company