When you are considering a sale of assets or real estate we encourage you to consider the benefits of the auction method.
- Aggressive marketing
- Quick turnaround time
- Specific focus on your property or asset portfolio
- Opportunity to discover the True Market Value with no limit on upside potential
- The negotiation process is eliminated
- Property or assets sell without contingencies or conditions
Plainly put, auctions bring you cash and creditworthy buyers and deliver the highest price the market can produce on a defined timeline.
Step 1 – Consultation.
During the consultation period we will evaluate the property or assets, discuss your goals and timelines and jointly determine whether the auction method will satisfy your wants and needs. We will further discuss the marketing approach to be utilized as well as the engagement terms and costs. Everything is up front and in writing.
Step 2 – Written Proposal.
Some of our clients ask for a full, detailed proposal while others desire to move directly to negotiating the listing agreement. We are happy to provide a full color proposal that can be delivered by email, in person or through a web interface. At your election we can make a full presentation in person or through a webcast Webinar.
Step 3 – Contract.
Once you have elected our group as your auction partner we will provide a detailed Auction Listing Agreement based on the Consultation and Proposal.
Step 4 – Pre-Marketing.
We will begin the field operations process for real estate auction by preparing the site, collecting property information for an Info Pack and photographing the location. For asset auctions, our staff will begin by sorting and staging the assets so they can be properly cataloged as well as photographed. After accumulating this information our marketing staff will begin development of advertising material.
Step 5 – Marketing & Promotion.
The “marketing mix” is re-developed for each auction event as each situation is custom. Within the plan for your event you will receive a specific plan utilizing print, web, email, direct mail and media relations. Upon your approval the marketing campaign swings into action, activity begins immediately. Our writers and graphic designers will go to work to create custom promotion materials and strategically placing the advertising. As much of the asset promotion, for both asset and real property, is distributed through electronic mediums we will pay specific attention to Search Engine Optimization and Key Wording.
Step 6 – Site Visits.
Site visits for real property are usually conducted via structured open house periods. Inspections for asset auctions are usually conducted in the hours immediately preceding the auction. For Online Auctions, inspection is generally conducted through the open house model on the day prior to the close of online bidding.
Step 7 – Auction Day – Real Estate.
On auction day, our staff will arrive at the property approximately 1 hour ahead of the scheduled auction time to open the property for the final bidder inspection, conduct bidder registration and answer last minute questions. During this period, our staff is circulating among the bidders and attempting to determine buyer motivation. Immediately following the sale of the property, our representatives will meet with you and the successful bidder to sign the necessary paper work, collect the down payment, and arrange for the closing, which is typically scheduled within 30 – 45 days.
Step 7 – Auction Day – Assets.
Even though many asset auctions are conducted online only, auction day is extremely eventful. Our staff will be on site or available by phone/email in the hours just prior to the bidding answering bidder questions, confirming funds and making sure the bidding runs smoothly. Bidders will have registered to bid by providing valid contact information as well as valid credit card numbers.
Step 8 – Closing – Real Estate.
Upon the completion of the auction and acceptance of the high bid, we make contact with our preferred title company to handle the closing. By this point in time they will have already opened a file on your property and will be prepared to close on the timelines outlined in the Purchase Contract. At the completion of the closing, final funds will be distributed via check or wire transfer. Final documents can be distributed in any format desired.
Step 8 – Closing – Assets.
At the completion of bidding our staff will contact all high bidders via email and, as needed, phone and will also immediately charge purchases to the card the winning bidder has left on file. On a date following payment, buyers will be allowed access to the location to pick up their purchases. Our team will staff the removal period and assist the buyers in locating their purchases. Upon the completion of processing funds, we will provide a final settlement statement showing the prices realized on each item, agreed upon costs and net proceeds available. Funds can be delivered by check or wire transfer.