Put your property into the hands of a real estate market veteran and relax. You'll be working with an organization that has helped their clients sell all types of properties at auction; Upscale Homes, Condos and Townhomes, Lake and Ocean-front Properties, Office Buildings, Land Packages, Shopping Centers, Apartment Complexes, Motels and Ranches.
Once you sign an agreement, all of the details of the sale will be taken care of for you. It's a turnkey transaction. All you have to do is deposit your proceeds after the closing.
People come to us with some pretty strong misconceptions of how auction marketing works. It is a myth that auctions are only for distressed or foreclosed properties. People want to sell their property fast for a variety of reasons;
You eliminate the waiting, strangers traipsing through your home, buyer contingency and painful negotiation that typify the way you've probably sold real estate in the past. Your property won't be one of many in a real estate agent's ad or brochure. It will be marketed individually and exclusively, with the goal of bringing the maximum possible number of prospective buyers to your door for a one-time event, culminating in a sale.
Our method of marketing your property usually compresses the sales process down to a 30 day period, and typically brings fair market value…often more than the seller expected.
We've made it work for scores of happy sellers since 1984. It will work for you, too.
A.) Actually, our process is the “conventional” method. Property was exchanged at auctions for hundreds of years before there was ever such a thing as a real estate agent or multiple listing service. Selling property at auction is still the fastest, cleanest way to bring buyers and sellers together and complete the sale. Another key difference; Real estate agents split their time between helping buyers find homes and trying to get sellers to list their homes with them. We only represent you, the seller. We bring you as many potential buyers as we can, but we work for you with the one-track goal of selling your property fast, and for maximum value.
|Focus on YOUR property alone||Property is one of many being advertised and shown|
|Results in offers in 30-60 days or less||May remain on market for months or years|
|Extensive advertising featuring your property exclusively||Minimal advertising; heavy reliance on Multiple Listing Service|
|Buyers act on your schedule||Little motivation for buyers; you wait on them|
|Auction provides catalyst to promote buyer interest||Price reduction encouraged to create buyer interest in activity|
|Realizes the property's true market value. No limit on upside potential||Upside potential limited by asking price|
|All conditions of sale set in advance, thus eliminating negotiations.||Seller must negotiate all aspects of sale|
|Property sold without contingencies||Contingencies are common|
|All offers are presented to the seller before and during the auction||Few offers received, multiple offers at one time are rare|
|Eliminates guesswork in determining the asking price of property||Seller risks overpricing, and thus seeing little interest, or under pricing and selling for less that the property is worth|
A.) Think about what a potential buyer has to go through to find your property; First, they have to select a real estate agent, one of thousands to choose from. Then, that agent has to sort through hundreds, possibly thousands of properties in the listing service to find yours. (Keep in mind that they are not specifically looking for yours…they will have to stumble across it.) You are like the proverbial “needle in a haystack.” It's a process that can take months, maybe even years to bring you a buyer. When we sell your property for you, it is elevated above the mass of the marketplace. We aren't working from an inventory of thousands of properties and we're not showing competing properties: We're working on selling your property on your specified date.
A.) First, one last word about the difference between an auction and the other method of selling property; When you list your property with a real estate agent, you may some day receive an official “offer” for your property. Do you think it will be more than you were hoping for, or less? That list price is a maximum - you won't do better, but you'll probably do worse. At an auction, buyers bid the price up until it ultimately reaches “what the market will bear.” You will know on the day of the auction the maximum amount a buyer will be willing to pay. The fact that you're selling at auction does not change the value of your home in the marketplace. Now, back to the question; “Do you have to accept that amount?”
1.) Subject to Confirmation - You have the final say in whether you want to accept the final bid or not.
2.) Absolute Auction - The property is sold to the highest and best bidder without reserve or restriction as to the price.
3.) The third type of auction is a hybrid of the first two, and is very popular; You set a minimum bid and the property will be sold at the highest bid above that price, protecting you on the downside without placing a limit on the upside. It is published in all marketing materials so everyone who shows up knows the minimum they must be ready to pay, protecting you from the vultures who you were probably thinking of when you asked the question!
You will decide in advance and specify in our agreement which type of auction you prefer. The choice is entirely yours.
A.) Absolutely not! In fact, if you look at the properties we've presented, you'll see some magnificent upscale properties. People choose our method because it's fast and clean. There are many reasons why people are in a hurry to get their real estate sold; They may be settling an estate and want to distribute the proceeds to the heirs quickly. They may be relocating to a new city and need their equity to finance the move. They may have tried other methods and failed to find a buyer. Heck, they may just want to avoid having dozens of people traipsing through their home and then presenting low-ball offers.
A.) Yours will be a voluntary “by choice” auction, not the old “distress” auction you're thinking of. We do everything possible to make your auction a totally positive, enthusiastic event that encourages competitive bidding.
A.) Once you have signed our standard agreement, your auction is usually held within 30 to 45 days to allow time for marketing your property.
A.) We will tailor and design a marketing campaign exclusively for your property. We want to reach the maximum possible number of potential buyers, both locally and nationally. We maintain a mailing list of real estate investors and of individuals who have expressed interest in property like yours. We also send out a mass email notifying those who have signed up that we have added your property to our web site (Look at the samples of how past properties were presented on this site). Plus, we place advertising in your local news media. If appropriate, we will even place ads in the Wall Street Journal…because you never know where in the country the right buyer for your property might be. You can see some sample ads in the Past Properties information. These are not typical real estate ads that lump ten properties together under a glamour shot of the listing agent. (Those ads promote the agent more than the properties.) All of our ads will promote your property exclusively.
A.) So that your property can be presented in the best light, we like to do it right on the premises. Buyers are right there to be reminded how attractive the property they're bidding on is. If that's not practical for any reason (For example, deed restrictions in some of the exclusive neighborhoods we often work in preclude drawing a crowd on the property.), we can hold the auction in a nearby hotel ballroom or other meeting facility.
A.) We sell all properties in “As-Is, Where-Is” condition. The prospective buyers are given full disclosure of pertinent data, and are invited to inspect the property before the sale. The buyer's contract specifies that they are accepting the property in its current condition “As-Is, Where-Is.” All you guarantee is a good and marketable title.
A.) The buyer exercises a substantial cash deposit down on the day of the auction. The balance is due within 30 days unless the seller specifies otherwise.
A.) Great Western Auction & Appraisal Services handles everything from start to finish. All you have to do is deposit your proceeds check after the closing.
A.) Our fees are similar to those charged by other real estate brokers with one exception; All expenses of promoting and advertising the auction are paid by the seller of the property. This assures that your property will not be lumped in with ten other properties in an ad (or maybe not advertised at all!). Your property will truly be marketed exclusively and aggressively. And, you won't be lost in a crowd of other listings. Our fee is paid at closing from the sales proceeds.
SO What ARE the Benefits of an AUCTION:
These are just a sampling of the most ofter asked questions that we receive. It's always best for you to contact Jeff Messer, directly at 214-9571910 for a FREE NO COST-NO OBLIGATION CONSULTATION regarding your personal situation. CALL NOW!