MARKETING BENEFITS
Sell today instead of months or years from today
Reduces carrying and operating costs
Frees capital for better uses
Property-specific intensive and widespread marketing
Exposure to hundreds or thousands of targeted buyers
Assures the maximum level of bidding
YOUR CHOICE OF SALE DATE
You select the day you want the real or personal property to sell
In a real property auctionYou control your real estate closing date
Auction CREATES URGENCY!
Creates a “now or never” atmosphere
Bidders know they have only one chance
They must bid their best to win!
YOU CONTROL THE TERMS
In the case of a real estate auction the earnest money deposit is non refundable.
Noncontingent quick closing on real estate 99% closing certainty (much higher than with ordinary real estate sales)
The only term the buyers set is price
When Can an Auction Benefit Me?
Auctions can be a valuable tool for the asset owner or disposition manager in many situations.
Two very good examples are:
WHEN THE SELLER MUST SELL QUICKLY
An auction provides an arm’s length setting for all interested bidders to compete, with an intensive marketing campaign. Holding costs are minimized, and capital is freed for other uses.
WHEN A PROPERTY HAS HIGH DEMAND
The Onassis auctions and the Atlanta Olympic auctions gave bidders the opportunity to pay what they thought the assets were worth – between 300% and 1000% of what the sellers would have asked!
Auctions Work Well For:
Personal Property
Vehicles
Equipment
Collectibles
Real Estate
Financial Instruments
Antiques and Much More!
Auction Method v. Traditional Listing
Have you listed your home, business, land or other real estate on the market through a broker and it just sits there? The traditional method of selling real estate through a broker can be frustrating and timely, especially in this difficult housing market.
That’s why the auction method is ideal for motivated sellers who want their real estate and personal property sold at fair market value in a timely manner. We understand that time is of the essence, so you can expect a closing in just 60 days from signing an agreement with us.
So how does this work? There are many different kinds of auctions, and we primarily encourage sellers to hold absolute auctions – this means that your real estate will sell to the highest bidder, regardless of price. Some sellers are concerned that their property will sell for too low; but what normally happens is that the combination of a presumption of a good deal and our effective marketing methods brings a crowd of interested buyers. The end result is a sale at fair market value – or better!
Simply put, the auction process is a condensed and intense marketing effort to alert potential buyers to your real estate. In the three weeks after you sign an agreement with us, we spread the word with newspaper advertisements, direct mail brochures, email blasts to our internal listings as well as Realtors throughout the region, signs and Web site listings to garner interest. The auction is held, and contracts with the highest bidder are signed that day.
Another difference between traditional listing and auctions is the fees a seller pays. The buyer is responsible for the year’s taxes, all closing costs and the buyer’s premium. The seller is only responsible for the advertising costs. This results in substantial savings for the seller – as well as satisfaction for both the seller and the buyer!
