As Auction.com’s deputy general counsel, George Lane leads a team of lawyers and ensures that the company can successfully traverse the legal landscape of all 50 states and more than 3,100 counties. Lane and his team’s guidance and decisions help influence the company’s direction. He and the legal team have implemented various auction strategies such as proxy bidding, extend the bid and assign the bid, which are beginning to have revolutionary effects in helping lenders obtain maximum value on their distressed inventory and engaging foreclosure buyers. Lane and his team created and drafted a 50-state solution regarding purchase and sale agreements, giving Auction.com the ability to use an easy plug-and-play purchase and sales agreement nationwide. Lane and his team also implemented foreclosure sales online in Ohio, which now serve as a working model that other states can emulate to move foreclosures online and has led to Auction.com’s foreclosure third-party sales rate in Ohio to rise over 15% since inception of the program.
What is the best piece of advice you have ever received?
“Be an athlete. Never limit yourself to one area of the law or business. Continuously work to expand your skill sets as an in-house counsel and perform at a high level in various arenas. This allows an attorney to effectively guide and impact both the company and industry at large.”