A real estate auction is the fastest growing and most effective method of selling real estate. The auction is preceded by an intense, accelerated marketing process that involves the public sale of any property - most are NOT distressed - through open cry, competitive bidding. The marketing period is designed to inform all interested parties about a property's eminent sale. The goal is to produce what economists would call a "perfect" market where true fair market value is determined by virtue of the competitive bidding process.
Once a seller contacts us regarding potentially selling a property, we begin a pre-qualification process. This process includes interviews with the owner/seller to determine the sell potential of the property and the expectations of the seller, a property analysis, an analysis of the property’s marketability, as well as a meeting of the minds between the auction company and the seller relative to the required timeline of events. If the property meets our auction candidate profile and if the seller’s expectations are in line with our marketability analysis, we then enter into an Auction Marketing Agreement.
The Timeline of Events for selling the property begins with the execution of the Auction Marketing Agreement. The timeline spans a period of 4-6 weeks for marketing up to Auction Day and then closing is typically 30 days from Auction Day. The Marketing Plan is designed to determine the property’s True Fair Market Value on Auction Day.
The Marketing Plan is property specific and typically includes print media, web site exposure, targeted email blasts, design of direct mail pieces such as postcards, letters and brochures, signage, and solicitation of Buyer’s Agents.
Auctions of real estate represent the fastest growing way to sell/buy real estate according to studies by the National Association of Auctioneers and by the National Association of Realtors. Clearly, this trend will continue because of the desire to do things faster in the electronic age. While the auction process is used for the sale of foreclosed and otherwise distressed properties, it is also quickly becoming the first choice method for a high percentage of the marketplace.
ACCELERATED MARKETING EQUALS FAST, EFFICIENT SALE OF REAL ESTATE!
FOR A FREE PROPOSAL, CONTACT US TODAY!