Real Estate Auction Benefits to the Sellers

 

• Competitive open bidding assures you are getting fair market value Increases interest and visibility through an aggressive marketing program Buyers come prepared to buy.

• Quick sale reduces long-term carrying costs, including taxes, insurance, & maintenance

• Exposes the property to a large number of pre-qualified prospects

• The seller knows exactly when the property will sell as closing will be set at time of auction

• Eliminates numerous and unscheduled showings

• Takes the Seller out of the negotiation process Property sold “As Is”, No contingencies. This eliminates the need for repairs and endless negotiations

 

How Does the Auction Process Work?

 

Step 1: Auction Evaluation

Our Real Estate Team will begin with an evaluation of the property and your needs. We will meet with you and/or your Realtor at the property to discuss the real estate options as well as provide a free evaluation of the property and your needs to see if an Accelerated process is right for your property.

 

Step 2: Marketing Strategy

Our Marketing Team will evaluate all potential forms of media and develop a strategy for reaching your target audience in the most effective and cost-efficient manner possible. Taking advantage of the strengths of your property, the marketing plan will be tailored for your specific property to generate the greatest amount of interest possible. The goal is to create a unique market and demand just for your property.

 

In this step a decision will be made to market the property on an absolute basis or subject to Seller’s approval. An absolute auction is one where the property will sell regardless of the highest bid amount. Subject to Seller approval means the Seller will be able to consider the highest bid offer and either accept or reject the bid. Keep in mind not all auctions end at the auction. Many deals are negotiated after the bidding. Having the Buyers there is a benefit.

 

Step 3: Development

Our marketing team then develops the marketing material specific to your marketing plan. Our marketing teams are second to none, providing your property an exclusive presentation that can make the property standout against all the rest. We will also develop a specifically targeted mailing list from our extensive databases for direct mail, if necessary. Our databases have been carefully culled to the pre-qualifying criteria established by the Marketing Team.

 

Step 4: Online Auction and Advertising

Next, the public announcements, Realtor pitch sessions, On-Line Auction solicitation, telemarketing, and advertising campaign begin. Remember, the goal is to generate hype through the accelerated marketing techniques.

 

A critical piece to generating the hype for the property is our proprietary online auction platform (Accelerated Listing Service, ALS process). Your property will be potentially exposed to everyone that has access to a computer. Based on the time agreed upon for auction marketing online bidders will have an opportunity to purchase your property long before the onsite auction begins.

 

At the same time, the designated team receives calls and follows up on each and every qualified inquiry several times, enticing the prospect to attend the preview, bid on-line and attend the onsite auction. This is all in parallel of an extensive outgoing telemarketing campaign.

 

There is not another marketing model that will expose a property to more interested parties, generate awareness and bring offers.

 

Step 5: Preview

At the preview, the team will meet with your prospective bidders, providing the answers to all questions and presenting the best features of your property. This is also the time to prequalify buyers through lender partners to assist end users in buying under the Accelerated time frame.

 

Step 6: On Site Auction

The Auction begins and bids are taken. Soon the auctioneer calls for last bids and the gavel sounds resulting in a winning bidder being announced and you are presented an offer.