A Full Service Real Estate Auction Company
Auction Preparation
Our firm offers complete turnkey service - that is, all the brokerage services offered if the property were sold using the privately negotiated method - packaging promoting, showing, helping to draft legal documents, conducting the auction from the sale to the closing. We charge for expenses, time, plus a commission, which is comparable to rates charged for privately negotiated brokerage services.
Evaluating the Property
Just as a private brokerage company evaluates the property it lists for sale, our real estate auction company provides this service as well. All the physical and financial information about the property is reviewed and the property is inspected personally, as well as by any required outside inspectors or consultants. When the evaluation is completed, an auction report will be presented. In the report, we will indicate whether the property is marketable at auction. If so we outline the marketing strategy, type of auction to be used, how the property will be shown to the prospective buyers, and the post auction follow up work that will be required.
Framing the Offering
In an auction, the roles of the seller and the buyer are reversed. In private settings, sellers normally set the prices and the buyers set the terms. In an auction setting, the seller frames the transaction and the buyer, sets the price on the basis of the transaction the seller frames.
Showing the Property
Members of the real estate auction company are skilled real estate experts showing property at its best. Particularly important is the auction company*s ability to anticipate questions buyers will have regarding the real estate being auctioned. Information that must be available for any real estate auction is anything pertaining to the property being sold, including operating statements, rent role information, copies of leases, and any other supporting documentation. For industrial building or user properties, information must include building plans interior floor layouts and loading capacities.