Auction Sellers FAQ
Selling at Auction
An auction is an innovative and effective method of marketing real estate and personal property. It is an intense, accelerated real estate marketing process that involves the public sale of any property, most certainly including those that are non-distressed, through competitive bidding.
The auction method of selling will provide you with a proven avenue of converting real estate to cash. Auctions can produce very successful results.
In the past, auction was considered a line of last resort. It is now being recognized as the most efficient, effective, and profitable means of marketing real estate.
Benefits to the Seller:
- Buyers come prepared to buy
- Quick disposal reduces long-term carrying costs, including taxes and maintenance
- Assurance that property will be sold at true market value
- Exposes the property to a large number of pre-qualified prospects
- Accelerates the sale
- Creates competition among buyers. Auction price can exceed the price of a negotiated sale
- Requires potential buyers to pre-qualify for financing
- The seller knows exactly when the property will sell
- Eliminate numerous and unscheduled showings
- Takes the seller out of the negotiation process
- Ensures an aggressive marketing program that increases interest and visibility
Marketing Your Property
Marketing is not just advertising. Marketing means more than just placing ads in a list of publications. True marketing involves knowing what property will appeal to what kind of buyers. Targeted marketing is both more cost effective and successful than an unorganized “shotgun” approach. It involves presenting the property in a way that the bidders can understand, relate to, and expect. When done properly, those bidders become buyers!
Since expenses can grow quickly, we recommend a budget that can be customized to best advertise each individual auction. An itemized accounting of these expenses will be presented to you at the time of closing.
Websites and Internet
The Internet is now, by far, the fastest growing and most important tool for marketing available to us today. With thousands of consumers searching the Internet for their new home, there is a great need to keep up-to-date with our online marketing campaigns.
Online Bidding Technology
We have the ability to provide buyers and sellers with online auction technology that allows your auction to go live.
In-House Marketing Department
With our in-house marketing department, we are able to provide you with individualized service that makes your auction marketing custom to your needs. We custom design your auction print materials as well as prepare the online and offline advertising. We create and submit newspaper and print ads to the proper venues that is customized for your auction marketing plan. Each auction is unique and we structure our marketing plans according to those needs.