FAQ

What is the cost of auction marketing?

Auction marketing campaigns allocate from 2% to 5% of anticipated sale price for advertising, promotion and public relations, in addition to the auction marketing fee. Many of the costs normally paid by the seller are transferred to the purchaser, resulting in net marketing costs generally equivalent to or less than standard real estate brokerage commissions. Net proceeds are often much better.

What Kind of Price will I receive at auction?

Auction marketing compels all real buyers to be present on sale day and make their best offer - auction prices will generally be the top of current market value. Sometimes demand is far greater than anyone anticipated and the sale day price exceeds all expectations.

Why do so many buyers attend auction?

Many are bargain hunters and speculators- they set the minimum price level from which auction prices move upward. Many investors and final users purchase at auction because it is very time efficient, they know the property will sell and feel comfortable in receiving adequate value in an open bidding process.

How does auction marketing compare to conventional real estate efforts?

It's much quicker than normal real estate marketing, often results in an equivalent or higher price, dramatically reduces marketing time, eliminates holding costs, conducts a transaction on the seller's terms and conditions, reduces normal seller's liabilities & eliminates haggling over minor details.

How does auction marketing work?

It utilizes aggressive advertising and promotion to focus the entire markets' attention on one property, assembles every real buyer for your property in the same place at the same time - then, it capitalizes on the competition between all real buyers to force the price to its highest level, selling on terms and conditions and at a time and place established by the seller.

What kind of sellers utilize auction marketing?

Individuals, estates, private and publicly traded corporations, real estate developers, financial institutions, insurance companies, partnerships, REIT's, court systems and others.

Can real estate Brokers participate in the auction process?

Absolutely - many auction transactions are referred to our firm by real estate brokers. Our broker participation program invites all Brokers to bring prospects/buyers to our auction event. Brokers are encouraged to refer potential sellers.

Will auction marketing work with my real estate?

It depends. If not, we'll be the first to tell you. In many cases, the auction method succeeds where there is little demand and other marketing tools have failed. For high demand properties, auction marketing works better than any option available - and often produces higher than anticipated sale prices.
We've successfully sold at auction "first time on the market" developments, single family homes, condos and town homes, acreage tracts, islands, office buildings, vacant and improved commercial and industrial sites, complete resort operations, manufacturing facilities, plantations, timberland, farmland, resort and waterfront properties and related personal assets.

How Can I Be Sure Of Selecting The Right Auction Marketing Organization?

Ask for letters of reference, brochures and videos from previous sales. Select a real estate auction marketing organization, not just a general auctioneer. Avoid learners, amateurs & auctioneers who ask for large "up front" fees. Be sure your auction professionals are members of the National Association of REALTORS.