Zeitlin & Co. Realtors has launched a division that aims to present high-end homeowners "a flexible sales alternative" to conventional listings.

Zeitlin Auction Registry is being run by Sheri and Barry Smith and is being billed as the first luxury-home auction service established by an independent Nashville firm.

“Zeitlin Auction Registry provides sellers with a marketing option that can establish and maximize the value of a luxury home while offering a sense of certainty during a turbulent economic time,” said Shirley Zeitlin, CEO of Zeitlin & Co., which was founded in 1979. “The luxury home market was negatively impacted by the recession, and an auction can bring a buyer and seller together in a win-win situation.”

Zeitlin Auction Registry will focus on properties listed at $950,000 and more. Based on NashvillePost.com's Headline Homes coverage, the Middle Tennessee market typically produces between 10 and 20 transactions per month in that price range.