REAL ESTATE AUCTIONS
GENERAL INFORMATION
Auction vs Ordinary MLS listing
BROKERS AND AUCTIONEERS
ABOUT AREMCOM
Accelerated Marketing Method vs. Ordinary MLS Listings
If you are considering the auction method of selling your property, you have made a very astute choice. According to the National Association of Realtors, 1 in 3 homes will be sold through auction method by 2010. When deciding on which real estate auction company to successfully execute the sale of your home, make sure that the company is A.A.R.E. certified by the NAA, National Association of Auctioneers. Having the Accredited Auctioneers of Real Estate designation is the equivalent of a masters degree in auctioneering real estate. AREMCOM will successfully plan and execute the sale of your most valuable asset. To begin, begin by calling us at 408-945-7500 or send an e-mail by clicking here . We'll discuss your property and your needs and do a preliminary assessment of whether your property is a good candidate for a AREMCOM Auction.
If your property appears to be a suitable candidate, we will send our experienced auction marketing specialists to visit the property and learn about your needs and expectations. This allows us to begin preparing a preliminary strategy for marketing and selling your property.
After the visit and in-depth evaluation are completed, our marketing professionals will develop a campaign specifically designed to market your property. This will come to you in the form of a proposal, which will include a detailed media plan for advertising in venues that will maximize the value and provide you the best results for your property type.
Once you have approved the plan and signed the AREMCOM Auction Marketing Agreement, our professionals will begin putting the campaign into action. A AREMCOM project manager will be your single point of contact and serve as a liaison to our entire firm. The project manager will visit your property so that he or she can provide our firm with all of the information needed to carry out a successful campaign. During the 90-day campaign, brochures, advertisements, web marketing and other media will saturate the appropriate target market. Every detail, from legal work to signs, will be carefully implemented to ensure a smooth and successful sale. Throughout the entire campaign, you will be provided with weekly update reports that track our progress.
The showing period for your property typically begins two weeks before sale date. During this time, our experienced staff will be assigned to your property full-time to ensure that prospective bidders enjoy ample opportunities to tour and appreciate the property, while providing property information.
These efforts will culminate with the AREMCOM auction event itself. On sale day, bidders will begin registering a few hours before the designated auction time. AREMCOM bid assistants will circulate among the bidders to answer questions before the auctioneer explains the terms of auction. Before the live auction begins, the auctioneer will provide an example of the bidding process to familiarize the audience with bid calling. Once the live auction takes place and the winning bidder is recognized, AREMCOM staff will meet with you and the successful bidder to sign a contingency-free sales contract and arrange for closing, which is typically within thirty days.The Comparison Table
AUCTION METHOD
Ordinary MLS Listings
1
Exclusivity:
Primary focus is on your property only. All potential buyers will know that your property is for sale through our innovative marketing program for your property.
Focus is on all competing MLS listings, all of which is minimally advertised. Minimal advertising; heavy reliance on Multiple Listing Service. Difficult to differentiate your property from the competition
2
sell in 60-90 days or less:
When a date for auction has been advertised, that will create a sense of urgency to act or miss a once in a lifetime opportunity to buy. It will make all potential buyers commit to buying.
Property may remain on market for months or years without any definite time of sale. Buyers have no sense of urgency and take their sweeet time.
3
Control close in 30 days or less:
You pick the date your property will sell, the terms of the sale,
Property lingers on market waiting for buyers to put in offer.
4
close in 30 days or less: AREMCOM’S auctions are contingincies free so you’ll be able to make plans base on-time closing of your property.
If you have ever “sold” a property contigent on financing or on the sale of the buyer’s property, you know the frustrations that can cause your organization.
5
Auction creates a sense of urgency to promote buyer interest
Price reduction encouraged to create buyer interest and activity
6
Realizes the property's fair market value;
No limit on upside potential
Upside potential limited by asking price
7
Eliminates guesswork in determining the asking price of the property
Seller risks overpricing, and thus seeing little interest, or under pricing and selling for less than the property is worth
8
All conditions of sale set by seller in advance, thus eliminating negotiations
Seller must negotiate all aspects of sale
9
Property sold without contingencies in 30 days or less.
Contingencies are common and extended closing are almost
10
Pre-scheduled Inspections with ample time to prepare
Inspections are frequent and many times
with short notice
