Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

Auction Sellers Guide Phil Stover


Published on

  • Be the first to comment

  • Be the first to like this

Auction Sellers Guide Phil Stover

  1. 1. © 2014 All Rights Reserv ed Selling Your Real Estate? Use an Auction For the Best Results!
  2. 2. © 2014 All Rights Reserv ed There’s been an explosion of auction popularity in recent years •  Online merchandise auction sites •  Popular TV shows focused on auctions Did you know that in many countries around the world, auctions are the preferredway to buy and sell real estate? Our international friends in Ireland, Australia and some nations in Asia have long taken advantage of all the benefits of real estate auctions. You can, too.
  3. 3. © 2014 All Rights Reserv ed When selling your real estate, would you like: • A set date of sale? • An accelerated sales and marketing time frame? • Fast closing? • Only qualified bidders with no contingencies? • Competitive bidding that tends to drive up prices?
  4. 4. © 2014 All Rights Reserv ed • No drawn-out negotiations. The bidders compete against each other Then Choose a Real Estate Auction!
  5. 5. © 2014 All Rights Reserv ed Auctions vs. Traditional Sale for Sellers
  6. 6. © 2014 All Rights Reserv ed AUCTION METHOD Overall accelerated time frame Bidders are pre-qualified and readyto buy Competitive bidding drives prices up Property sold atFair Market Value Quicker end to carrying costs Scheduled,limited number ofshowings Set closing date,usually30 days or sooner after the auction TRADITIONAL METHOD Sales process maytake weeks or months Buyers often require financing or prior-sale contingencies Pricing steps typically go down Value is only an approximation based on similar properties sold Carrying costs drag on the entire length of sale process Unpredictable and often inconvenientshowings Closing date is often TBD Here’s a look at how an auction is better for the seller than a traditional real estate sale
  7. 7. © 2014 All Rights Reserv ed Virtually all types of real estate can be auctioned • Single family • Multi-family • Condos • Townhomes •  Commercial • Investment • Special- use • Land •  Agricultural •  And More!
  8. 8. © 2014 All Rights Reserv ed Some Example Properties Hawthorne, Florida USA Tierrasanta, California USA Fishhaven, Idaho USA Gig Harbor, Washington USA
  9. 9. © 2014 All Rights Reserv ed Omaha, Nebraska USA New Kent County, Virginia La Terranas, Caribbean DR Bonita, California USA USA Auction Bidding Types How is your real estate auctioned? There are three popular options:
  10. 10. © 2014 All Rights Reserv ed Highest bid wins. Absolute Auctions generate by far the most interest among buyers because of the Minimum Bid Auction Absolute Auction Reserve Auction
  11. 11. © 2014 All Rights Reserv ed opportunity to win the property with just another bid. This typically means more money for the seller due to the competitive nature of bidding Bidding begins at a minimum, acceptable price to the seller. Less popular among bidders than the Absolute Auction, a Minimum Bid Auction provides a starting point that a seller may feel more confident with, but the starting bid should not be unrealistically high as to discourage initial bidding. works with sellers to establish an appropriate and productive minimum bid. Only the seller, the auctioneer and the Auction Specialist with knows a confidential minimum price at which the property can sell. Bidders typically regard an Auction With a Reserve as the least attractive because of the unknown minimum threshold their bidding needs to reach in order to purchase the property.
  12. 12. © 2014 All Rights Reserv ed When is your Real Estate Auctioned? Working with our designated Auction Specialists,your propertyis typically ready forauction approximately six weeks after contracts are signed.This is an average time period based on the market and the type of property we are auctioning. During this period,we will market your property and assemble all due-diligence documents into a Bidder InformationPackage for buyers. There are three primary ways to sell a propertyat auction: • Live, In-PersonEvent • Online-Only Event • Live / Online Hybrid Event
  13. 13. © 2014 All Rights Reserv ed Let’s see how each of these methods are defined. Auction Methods These auction methods describe the length and the location of the auction.
  14. 14. © 2014 All Rights Reserv ed When most people think of “auction,” this is it. This type of event features a live auctioneer in an open- outcry setting. Qualified bidders raise their numbered paddles or bid cards when they wish to bid at the announced price, which is publically acknowledged by the auctioneer. A live, in-person event is typically held at a hotel ballroom or conference center for multi-property listings, or onsite at the subject property for a single listing. Perfect for a listing or listings in which a live, in-person event isn’t practical. Online bidding time is set for a narrow time frame or a broader time frame depending upon the marketing strategy preferred by the seller, in consultation with a specialist. Bidding is done by qualified buyers online, in real time, though the Online Bidding Platform. A great combination that melds today’s technology with tradition to throw open the doors for bidding from virtually anywhere. Bidders in the room, across town or around the world can purchase real estate while sellers can have their properties exposed to buyers far beyond local markets. Online-Only Event Live, In-Person Event Live / Online Hybrid Event
  15. 15. © 2014 All Rights Reserv ed Question & Answer
  16. 16. © 2014 All Rights Reserv ed Q: Aren’t auctions used only for foreclosures and distressed
  17. 17. © 2014 All Rights Reserv ed properties? A: Absolutely not. Any real estate that can be sold can be auctioned. It simply is the fastest, most efficient and most transparent way to buy and sell.
  18. 18. © 2014 All Rights Reserv ed Question & Answer
  19. 19. © 2014 All Rights Reserv edQ: I live in a definite sellers’ market in which multiple offers
  20. 20. © 2014 All Rights Reserv ed are made almost immediately when properties come up for sale. Why would I choose an auction? A: Despite multiple offers, you may end up leaving money on the table unless you let potential buyers compete openly against one another in an auction format.
  21. 21. © 2014 All Rights Reserv ed Question & Answer
  22. 22. © 2014 All Rights Reserv edQ: Can you help me sell my real estate without an auction?
  23. 23. © 2014 All Rights Reserv ed A: Yes. Please use our contact information at the conclusion of this presentation.
  24. 24. © 2014 All Rights Reserv ed
  25. 25. © 2014 All Rights Reserv ed Marketing Examples
  26. 26. © 2014 All Rights Reserv edCommercials Flyers
  27. 27. © 2014 All Rights Reserv ed What will it cost to sell my real estate at an auction? Our listing fee and the marketing cost will vary, due to several important factors including: •  Type of property •  Method of auction •  Single-property auction or multi-listing auction •  Other We can best answer this question with a conversation. Please don’t hesitate to contact us for more information and let’s discuss your particular situation. How Much?
  28. 28. © 2014 All Rights Reserv ed Making the Right Choices We’ll work with you every step of the way to determine the right solution for all the topics in this presentation, such as the type of auction (Absolute, Minimum Bid, Reserve), the method of auction (Online-Only, Live Onsite-Only, Hybrid), where to set the starting bid, and more. We’re knowledgeable about your local market and we have the experience to know what works for your particular real estate.
  29. 29. © 2014 All Rights Reserv ed $
  30. 30. © 2014 All Rights Reserv ed About US We’re a national real estate company specializing in auctions. We’ll sell your real estate using the fastest and most efficient way of bringing buyers and sellers together. was founded in 2010 by the CEO of a successful and well-known real estate brokerage of more than 20 years in Chicago. He began using auctions as a marketing method and soon decided it would become the sole purpose of the company because of the speed, ease and transparency auctions provide. is currently licensed in most states, with expansion to all 50 underway. In 2015, the company expects to expand internationally.
  31. 31. © 2014 All Rights Reserv ed Thank you! auction benefits for sellers,please contact me. I’m happy to provide additional information. Phil L. Stover 469-583-7690
  32. 32. © 2014 All Rights Reserv ed If you’re interested in learning more about