Auctioneer’s inside track lands $1.3M Riverside buy

Richmond BizSense
Jonathan Spiers

After selling his own home through an accelerated sale to help promote his auction house’s high-end real estate division, a local auctioneer has landed his next Richmond-area residence in an off-market sale that resulted from another fast-tracked transaction.

Mark Motley, president of Motley’s Asset Disposition Group, closed last week on his purchase of 5109 Riverside Drive, a nearly 80-year-old house overlooking the river that sold June 12 for $1.37 million.

Motley, whose Masterpiece by Motleys real estate division launched last year with the sale of his personal residence in Henrico’s Barrington West neighborhood, got an inside track on the Riverside property through another accelerated sale the division was coordinating in Henrico’s Grayson Hill, where he had bought a townhome after selling the Barrington West house for $1.3 million last fall.

Craige Pelouze, the seller of the Riverside house along with his wife Sandi, attended an open house for Motley’s Grayson Hill townhome, which Motley likewise listed through an accelerated sale. Pelouze told the hostess that he and Sandi needed to sell their house before they could buy their next home, and word got back to Motley, who made an offer on the house the day before they planned to list it.