auction sale proposal - · pdf fileauction sale proposal 1695 coral tree place san jose, ca...
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AUCTION SALEPROPOSAL
1695 Coral Tree Place San Jose, CA 95131PREPARED FOR: Tran Nghi Khon ThiPREPARED BY: Don WapenskiDATE: OCT/2014
AUCTION SALEPROPOSAL4BR/3BTH Single Family HomeSan Jose, Cal ifornia
PREPARED FOR: Tran Nghi Khon ThiPREPARED BY: Don WapenskiDATE: OCT/2014
3 RealEstateAuctions.com
RealEstateAuctions.com 2225 E. Bayshore Rd. Suite 100, Palo Alto, CA 94303Email: [email protected] / Tel: 408-210-7582
1695 Coral Tree Place, San Jose, 95131
TRAN NGHI KHON THI 00 / OCT / 2014
Dear Tran Nghi Khon Thi,
Auction marketing provides very distinct and attractive advantages over a traditional real estate sales listing. With an auction, you choose the date that your home will sell and you immediately create a seller’s marketplace. This enhances the price at which your home will sell thanks to competition among bidders, which is a key com-ponent of an auction sale.
An auction is highly advantageous even in a hot real estate market because it eliminates blind offers and guess-ing by potential buyers about how much to offer. With direct, open bidding, buyers are able to see all other offers and make their bid accordingly. As a seller, there’s no more wondering about whether you left any money on the table, like with the traditional sales process in which the buyers are playing a guessing game with their offers.
Not only can you take advantage of a higher price that an auction typically generates, but you’ll benefit from the speed of the sales process, too. The marketing of your home is direct and accelerated, the date of the sale is known, only qualified bidders are allowed to make offers, and closing is scheduled rapidly, typically within 30 days and often sooner.
Should you choose our online bidding option, you’ll also gain the benefit of attention and potential bids from buyers far beyond your immediate locale. Across town, around the country and even on the other side of the world, buyers located virtually anywhere can see your home for sale and make a bid!
This marketing proposal will give you details about the steps we will take and the plan we will implement for the auction sale of your (type of property). I look forward to working with you through your intended sale. I know you’ll be pleased with all that an auction sale has to offer and, more importantly, the results.
Sincerely,
Don WapenskiProject Manager, Listing Broker
4RealEstateAuctions.com
RealEstateAuctions.com 2225 E. Bayshore Rd. Suite 100, Palo Alto, CA 94303Email: [email protected] / Tel: 408-210-7582
TABLE OF CONTENTS
PAGE TITLE PAGE
ABOUT US
TEAM MEMBERS
AUCTION STYLES
RECOMENDATIONS TO SELLERS
PROPERTY EVALUATION
MARKETING PLAN
MARKETING EXPENSES
SELLER’S RESPONSIBLITIES
AUCTIONEER’S RESPONSIBLITIES AND FEES
RESUME AND CREDENTIALS
SUPPORT MATERIALS
SUMMARY
5
6
7
8
9
10
11
12
13
14
15
16
5 RealEstateAuctions.com
RealEstateAuctions.com 2225 E. Bayshore Rd. Suite 100, Palo Alto, CA 94303Email: [email protected] / Tel: 408-210-7582
ABOUT US RealEstateAuctions.com is emerging as a leader in U.S. real estate auction sales. The company brings people together in the fastest, most transparent and mutually beneficial way to buy and sell real estate: the auction.
In person and online, buyers and sellers everywhere are able to take advantage of the growing popular-ity of auctions. A heavy presence in electronic marketing and social media, in addition to traditional media, means that properties listed with RealEstateAuctions.com have high-level exposure and gener-ate interest like no others.
RealEstateAuctions.com maintains control of all aspects of the auction process, from listing through closing. We have business development executives and project management staff around the country to provide the very best real estate auction services.
RealEstateAuctions.com helps sellers by:
< Obtaining the best price for their real estate < Accelerating the marketing, sales and closing process < Procuring qualified, ready buyers < Promoting their property via our national website < Opening up bidding to buyers anywhere via our online bidding functionality (optional) < Handling inspections via one or more scheduled open houses < Readily working with outside brokers and their qualified clients for even more exposure
RealEstateAuctions.com is licensed in multiple states across the country, with expansion to all 50 states currently under way. The company anticipates opening new, international markets in 2015, including Canada, Singapore, Hong Kong, Brazil and the United Kingdom.
Choose RealEstateAuctions.com to sell your residential, commercial, retail, industrial, investment, multi-family, land and specialty real estate.
WHO WE ARE
6RealEstateAuctions.com
RealEstateAuctions.com 2225 E. Bayshore Rd. Suite 100, Palo Alto, CA 94303Email: [email protected] / Tel: 408-210-7582
Team members assisting in your auctionTEAM MEMBERS
Founder and CEOBrian has been a real estate broker for 30 years. Originally based in Chicago, Brian and his company developed almost 4,000 individual condominium units there before he chose to focus on auctions as the preferred method of real estate sales because of all the distinct ad-vantages. Brian currently leads RealEstateAuctions.com from Silicon Valley, California where the company is headquartered.
Brian Kuzdas
Project Manager and Listing Broker
Don Wapenski has been in real estate in Silicon Valley for 13 years. He has represented buyers and sellers from Hollister north to Cuper-tino/Sunnyvale and east to Fremont. In the project manager role for RealEstateAuctions.com, Don works with sellers to present the home at its very best by qualifying buyers, answering their questions, hold-ing open houses and reporting the results to the seller on a timely basis.
Don Wapenski
Project MangerHelping her father fix up HUD houses as a child, Rose is no stranger to real estate. Owner and landlord of several properties, 10 years in the real estate business in Northern and Southern California, Rose works with people from all walks of life. Her skills from a teaching and administrative background enable her to efficiently close the escrow process, even in times where it did not seem possible. She believes auctions hold an extremely important role as a tool to sell property in a transparent manner. She works directly with Brian Kuzdas the CEO of RealEstateAuctions.com in the Silicon Valley.
Rose Sonrise
7 RealEstateAuctions.com
RealEstateAuctions.com 2225 E. Bayshore Rd. Suite 100, Palo Alto, CA 94303Email: [email protected] / Tel: 408-210-7582
AUCTION STYLES There are three highly effective and most popular styles of auctioning a property
ABSOLUTE
Absolute Auction means highest bid wins, regardless of price. The typical result? More money for the seller because of the competitive nature of bidding. Competition typically heats up most intensely at Ab-solute Auctions because bidders know that by outbidding a rival across the room or online, the property can be theirs. But of course, other bidders have the same strategy and desire. Absolute Auctions typically get the most bidding.
MINIMUM BID
Minimum Bid Auctions begin at a minimum price established by the seller. These auctions offer a certain level of safety to the seller but are typically not as attractive to buyers as an Absolute Auction. A key strategy for a Minimum Bid Auction is for the seller to set the minimum low enough to attract the interest of buyers. Setting the minimum bid too high will discourage initial bidding.
RESERVEReserve Auctions allow the seller to accept, reject or counter the winning bid for any reason. This gives sellers protection so their properties will not be sold below what they consider acceptable, although sell-ers should be aware that Reserve Auctions typically generate the least amount of interest among buyers because buyers know their winning bid can ultimately be rejected.
AUCTION TYPES Live, In-Person Event 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 cards or paddles when they wish to bid at the announced price, which is then publically acknowledged by the auctioneer. A live auction is typically held at a hotel ballroom or conference center setting for multi-property listings, or on-site at the subject property for a single listing.
Online-Only Event 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 RealEstateAuctions.com specialist. Bidding is done by qualified buy-ers online, in real time, through the RealEstateAuctions.com Online Bidding Platform integrated with the website.
Live / Online Hybrid Event 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.
Be sure to speak with a representative from RealEstateAuctions.com to discuss specifics about your property and to determine which type of event will best suit the sale.
There are three primary ways to sell and bid on a property at auction:
8 RealEstateAuctions.com
RealEstateAuctions.com 2225 E. Bayshore Rd. Suite 100, Palo Alto, CA 94303Email: [email protected] / Tel: 408-210-7582
RECOMENDATIONS TO SELLERS
We are proposing a ballroom auction at (location name and address) with simultaneous and pre-event online bidding. This type of format provides a comfortable and enhancing environment for all of our varied types of buyers in a live setting, and also allows buyers unable to attend the event the opportunity to place bids.
We are recommending that the property be sold at absolute auction with no minimums and no reserves. This communicates to the buyers that the highest and final bidder in all situations will indeed be the new owners of the property. This method of marketing will return the highest amount of funds for the seller because buyers are fully aware that it will sell to the highest bidder.
The procedure we use for our multi-property auctions is the open-outcry method of bidding, led by the bid caller (auctioneer). The bid caller will introduce each property for sale, announce the basic terms of the sale, and begin bidding. An online bid manager sup-plied by RealEstateAuctions.com will monitor any online bids arriving and relay them to the bid caller for inclusion in open-outcry bidding.
At the close of the auction, the successful bidder must go to the closing table to sign the buy/sell agreements and to place the I0% non-refundable deposit on the final purchase price on their properties. The closings will take place at (location) within 30 days. Final settlement is at the closings.
Title insurance, warranty deed and property surveys will be provided by the sellers.
All properties are sold as-is with no warranties or guarantees of any type or nature. Buyers must rely on their own inspections of the properties. Deposits are NON-REFUNDABLE.
RECOMENDATION FOR YOUR AUCTION
9
1612 NOBU DRIVE, SAN JOSE 95131 CLASS: SFH
BEDS: 4 LOT: 4,000sqft
BATH: 3 LIST$: $978,000
SQFT: 2,461 SALE$: PENDING
1823 MCCLUHAN WAY, SAN JOSE 95132 CLASS: SFH
BEDS: 4 LOT: 6,098sqft
BATH: 3 LIST$: $878,000
SQFT: 2,467 SALE$: PENDING
1795 VIA CINCO DE MAYO, SAN JOSE 95132 CLASS: SFH
BEDS: 5 LOT: 6,090sqft
BATH: 3 LIST$: $749,000
SQFT: 2,359 SALE$: $850,000
2310 SHADE TREE LANE, SAN JOSE 95131 CLASS: SFH
BEDS: 4 LOT: 6,270sqft
BATH: 3 LIST$: $795,000
SQFT: 2,360 SALE$: $845,000
RealEstateAuctions.com
RealEstateAuctions.com 2225 E. Bayshore Rd. Suite 100, Palo Alto, CA 94303Email: [email protected] / Tel: 408-210-7582
Comparible Marketing Analysis : SINGLE FAMILY HOMES IN 95131
PROPERTY EVALUATION (CMA)
10 RealEstateAuctions.com
RealEstateAuctions.com 2225 E. Bayshore Rd. Suite 100, Palo Alto, CA 94303Email: [email protected] / Tel: 408-210-7582
MARKETING PREPARATION
• Acceptance of this Auction Proposal With a Signed AuctionListing Agreement
• In-depth examination of the subject property• Measurements and photographs• Compiling all documents needed for proper representation• Obtaining any missing documents from outside, third-party sources• Surveying local community• Securing auction location• Hiring bid caller• Create Comprehensive Bidders Information Packet (BIP)
2 Weeks
MARKETING CAMPAIGN
• Create dedicated page on RealEstateAuctions.com• Produce color flyer and/or brochure• Place ads in one or more local and/or regional newspapers• Create listing on the MLS• Prepare a news release to be sent out twice• Prepare and send out targeting mailer (flyer, brochure or postcard)• Set schedule for open houses• Place ads on local websites (Craigslist, etc.)• Present listing information at local meet-up groups• Contact local agents o invite them to participate
3 Weeks
AUCTION WEEK
• Call all buyer leads from the marketing campaign (open houses-all leads)• Funnel down list to all the serious potential bidders• Go through all last minute questions• Private inspections for potential bidders (Weds/Thurs/Fri)• Explain Terms and Conditions• Cashiers check made out in their name• Registration Time/Time of Auction• Bidding Process• Contract signing if they win• Buyer Seminar Three Days Prior to Auction• Call day before auction all buyers confirming that they will be at the
auction
1 Week Before Auction Date
Speed, efficiency and results are the hallmarks of the real estate auction method. A six-week timeframe is ideal for preparation, marketing and the actual event. “Sold!” is the goal and the following game plan is designed to help ensure the best outcome.
MARKETING PLAN
11
Potential Marketing Budget ($10,000)
Bid Caller $500.00
Newspaper ads $1000.00
Signs $500.00
Neighborhood Postcards, Door Hangers $500.00
Real Estate Broker Emails $1000.00
PR Newswire $500.00
Developer Email $1000.00
Social Media $1000.00
Email Blast $1000.00
Misc. $1000.00
Marketing Report:A report will be provided once per week to the seller with details of how the marketing dollars are used.
RealEstateAuctions.com
RealEstateAuctions.com 2225 E. Bayshore Rd. Suite 100, Palo Alto, CA 94303Email: [email protected] / Tel: 408-210-7582
An estimated budget needed for marketingMARKETING EXPENSES
12RealEstateAuctions.com
RealEstateAuctions.com 2225 E. Bayshore Rd. Suite 100, Palo Alto, CA 94303Email: [email protected] / Tel: 408-210-7582
SELLER’S RESPONSIBLITIES
GENERAL CHECKLIST
Provide a clear and clean title to close
Copy of the current survey
Copy of tax bills
Make any necessary maintenance or upgrades to the property
HOA Documents and Budgets (if applicable)
Condo Association By-Laws (if applicable)
Disclosing as much about the property as possible to buyers before they make an offer, reduces resistance to a higher price, because they are buying with confidence that they know exactly what they are buying. Reducing the unknowns about the property in the buyers’ eyes increases sales price.
For that reason, the following inspections are recommended for 1625 Coral Tree in San Jose:
RECOMENDATIONS COST
General Home Inspection $450
Termite Inspection $250
Roof Inspection $175
Pool Inspection $350
Chimney Inspection $150
Natural Hazard Disclosures $139
Preliminary Title Policy $0
Seller Disclosures $0
Other Recommendations for preparing the home for sale :
1. Remove/repair wrought iron gate2. Power wash the exterior3. Wood chips along property line in the front4. Minimal staging/cleaning5. Small repairs – sliding glass door to backyard, etc.
13RealEstateAuctions.com
RealEstateAuctions.com 2225 E. Bayshore Rd. Suite 100, Palo Alto, CA 94303Email: [email protected] / Tel: 408-210-7582
AUCTIONEER’S RESPONSIBLITIES
OUR PLEDGE TO YOU
Ensure descriptions in promotional material accurately reflects information provided by the seller
Prepare, print and distribute all necessary promotional material and make personal contacts to promote interest from prospective qualified purchasers.
Place the listing on the RealEstateAuctions.com website, as well as other real estate-related websites to be determined.
Select an appropriate auction site
Work with outside brokers to provide details about the subject property and outside brokers who identify a qualified client of theirs who is interested in bidding
Provide signs for each property
Advertise the auction through newspaper ads and/or direct mail effort and/or other outreach, to be determined
Conduct one or more “open houses” for the purpose of allowing prospective bidders the chance to inspect the property
Handle post-auction questions
Coordinate closing of the sale
FEES OF SERVICE
The commission fees for this auction will be _____ percent of the last and final bid on the property(s).
A Buyers Premium of ____ percent will be charged to the winning bidder. The Buyers Premium is typically a percentage that is added to the winning bid, or hammer price, in order to make a final selling price. The Buyers Premium is collected from the buyer and is retained by the Auction Company.
As an incentive to area real estate professionals we pay up to ____ percent commission to any Realtor® or broker whose customer or prospect buys and closes on the property. We do, however, require that these customers or prospects be registered with us in writing 48 hours prior to the auction and the Realtor® or broker attend the auction and represent the buyer.
Auctioneer agrees to promote and conduct sale in its usual way, including (but not limited to) the following:
FEES
14RealEstateAuctions.com
RealEstateAuctions.com 2225 E. Bayshore Rd. Suite 100, Palo Alto, CA 94303Email: [email protected] / Tel: 408-210-7582
RESUME AND CREDENTIALSCOMPANY CREDENTIALS
RealEstateAuctions.com offers a proven team of dozens of Business Development Executives and auction-focused, licensed real estate agents nationwide who are high-achieving asset liquidators. In addition we currently have on staff a half-dozen licensed auctioneers throughout the country. Our company executives have had a combined, conservative sales record of:
• 100,000+ units/parcels of privately-owned lender-owned and government-owned (HUD,FDIC, other) real estate
• $3.265 billion in closed sales volume in at least 27 states and Washington, D.C.
Additional credentials of our staff are:
Several of our auctioneers have earned the CAl (Certified Auctioneers Institute) and AARE (Accredited Auctioneer of Real Estate), which are the highest professional designations recognized by the National Auctioneers Association.
Our auctioneers, Business Development Executives and real estate agents are members of their respective local, state and/or national boards and professional governing bodies, and regularly attend meetings, seminars, conferences and industry-mandated continuing education to improve and update our skills.
Don was born In Cleveland, Ohio and obtained a Masters Degree in Electrical Engineering and Applied Physics. Moving to Silicon Valley in 1983, Don started independent consulting in Silicon Valley in 1990. Don honed his sales skills throughout the 1990s in engineering. However, by the year 2000, he realized that the sales portion of his consulting career was the most rewarding. Don continuously trained in sales for seven years prior to getting his real estate license in September of 2001. Don has found that his passion is helping individuals and families through the process of buying or selling what is usually their most valuable asset.
AGENT RESUME
15 RealEstateAuctions.com
RealEstateAuctions.com 2225 E. Bayshore Rd. Suite 100, Palo Alto, CA 94303Email: [email protected] / Tel: 408-210-7582
SUPPORT MATERIALS
Modern MinimalismE x p e r i e n c e t r u e l u x u r y i n t h i s t o - d i e - f o r p r o p e r t y
Exceptional Property Custom country castle! Seclusion & privacy in this gorgeous 3300+ sq ft home, on 3/4 acre lot. Huge 3br, 3 ba on 3 levels, with study as an easy 4th br & loft as a possible 5th if desired. Massive 900+ sq ft bonus room, not included in sq ft. Extra storage
rooms, laundry, plus huge workshop & storage room off garage. High ceilings, wide open floor-plan. Luxury throughout! Entertainer’s dream!
BED ROOMSFLOORSLIVING SQ FTPROPERTY SQ FTBUILD YEAR
42
154458
1998
PESCADERO · CALIFORNIA
$ 1,195,000STARTING BID:
CONCRETEFIREPLACE
LARGEPOOL AREA
RARE TYPEON THE MARKET
PROPERTY NO.475-214-54RARE ARCHITECTURE
Ç
REALESTATEAUCTIONS.COM · 1765 SCOTT BLVD. ·SANTA CLARA, 95050 · PHONE (650) 584-3741 · [email protected]
Brian KuzdasFounder, CEO
(650) 584-3741
Don WapenskiListing Broker
(408) 210-7582
Rose SonriseBroker Assistant(650) 584-3741
Jennie SeamenBroker Assistant(650) 584-3741
THE BEST PLACE TO BUY AND SELL
Here is just a small presentation of the marketing done by RealEstateAuctions.com to promote large auction events and individual properties. Marketing outreach is based upon the size of the event and marketing dollars available.
PROMOTIONAL FLYER
16 RealEstateAuctions.com
RealEstateAuctions.com 2225 E. Bayshore Rd. Suite 100, Palo Alto, CA 94303Email: [email protected] / Tel: 408-210-7582
SEARCH. DISCOVER. BID!
Seemless buying processQuick closingOnline Bidding CapabilityNationwide Selection!
2225 E. Bayshore Rd. Suite 100 Palo Alto, CA 94303T: 650.320.1733
CON TACT
Lisa [email protected]
Your complete site for buying and selling real estate
(650) 320-1733 www.RealEstateAuctions.com
SUPPORT MATERIALS
LUXURY HOME - 4BD 2BA Kent County Property List ing!
$1,700,000
RESERVE BID
5456 PINE NEEDLES COURT:
Lisa Englehart(650) 320 1733
Starting at:
PROMOTIONAL POSTCARDS
17 RealEstateAuctions.com
RealEstateAuctions.com 2225 E. Bayshore Rd. Suite 100, Palo Alto, CA 94303Email: [email protected] / Tel: 408-210-7582
SUPPORT MATERIALS
Upcoming Local Auction Events
• Multi-Property Wayne County (Metro Detroit) Auction July 10, 2014
• Detroit – Multi Property Auction July 30, 2014
Location: Doubletree by Hilton Hotel Detroit/Dearborn | 5801 Southfield Expressway | Detroit, MI 48228
Location: TBA
Pre-Registration: TBA Auction: TBA
Pre-registration: TBA Auction: 6:00 p.m.
David H. Brooks IIIRegional Director & State Broker
(248) 499-0620
[email protected]/in/davidbrooksiii
43443 Grand River Ste: 230 Novi, MI 48375 (248) 499-0620 www.RealEstateAuctions.com
Detroit Michigan | JULY 2014
Michigan’s Real Estate MarketContinues to Improve
MEDIAN HOME PRICES ON THE WAY UP, TOO!
Tips for Home Buyers at Auction
this issueTips for Home Buyers P.1
Current Auction Properties P.2
Auction 101 P.3
Upcoming Auction Events P.4
Detroit MichiganJULY
2014
More details about these eventsand others are available on our
website!
All indicators point to the Mitten State’s real estate recovery. Existing-home sales increased for the �rst time this year in April, while inventory meaningfully increased and home price growth moderated, according to the National Association of Realtors®.
Monthly sales gains in the West and South o�set a modest decline in the Midwest while the Northeast was unchanged. Total existing-home sales, which are completed transac-tions that include single-family homes, townhomes, condo-miniums and co-ops, rose 1.3 percent to a seasonally adjust-ed annual rate of 4.65 million in April from 4.59 million in March, but are 6.8 percent below the 4.99 million-unit level in April 2013.
The median home value in Michigan is $117,300. Michigan home values have gone up 8.1 percent over the past year and Zillow predicts they will rise 2.6 percent within the next year. The median list price per square foot in Michigan is $92. The median price of homes currently listed in Michigan is $129,900 while the median price of homes that sold is $131,400. The median rent price in Michigan is $850 per month.
If you’ve been house shopping lately, you may have heard or read about the excitement of bidding on homes at various real estate auction sites. Virtually or physically attending an auction is similar to the skills eBay aficionados display. There is a time and a place for everything, including the proper time to bid, raise your offer, and back away. The following hints and tips for home buyers at auctions make diving into the housing auction purchasing pool a smoother experience.
Learn about yourself
Don’t assume you have great credit because you pay bills on time. Check your credit reports and history to find out how you really stand. If you’re half of a married couple, a credit review should be done for each party.
The online mortgage calculator is a free tool that provides you the opportunity to see what you can afford to buy. Get an honest assessment by putting in actual numbers. The calculator:• provides a close estimate of the monthly house payment.• reflects the amount of your monthly intake and expenses.• provides a place to put projected utility costs.
If the mortgage payment, utilities, home insurance, HOA fees and taxes are less than 30 percent of your income, it is likely you can afford the home.Finally, ask yourself if you are prepared to be a homeowner. What will happen if the plumbing needs repair or the HVAC system must be replaced? Those are problems that must be handled by the homeowner to keep the home livable.
Learn about the market
Get prequalified for a home loan by a credit union, mortgage banker or bank.
Look at the list of homes for sale and pick out one or two homes that seem appealing. Research the selling prices of similar homes in the area. You can check online real estate sites and listings by professional associations. Ask real estate agents in the area about the housing market. Read blogs by the National Association of Realtors® for a professional view of trends, such as the rising or falling of prices and home values for a certain area.
U.S. sellers place property with real estate auction houses because it opens the market to the world as well as residents from state to state. If you are a serious contender for a certain piece of property, find out if there is a date and time scheduled to physically view the property prior to the auction. A beautiful home in a photograph may lose its appeal when viewed in person. Set an appointment to walk through the house. You will get an idea how much extra money is needed to repair and/or restore the house.
About the Auction Process
Requirements for U.S. buyers bidding on properties within the states may vary by auction house. Typical requirements include pre-registration and being at least 21 years old, as well as:• possession of bank statements for cash purchases.• proof of lender pre-approval during the previous 30 days, if financing.• possession of valid government-issued identification.• having a cashier’s check in the proper amount for properties you are bidding on.• acceptance to all terms and conditions of the auction house.
Use the same tips for home buyers whether you are traveling from site to site or bidding online. Don’t join the competition just to see how high the price will go. You may be the last one to bid and end up with a white elephant.
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outside_Brooks_detroit.pdf 1 6/26/14 10:12 AM
EYE ON ITLocal Spotlight
Detroit
If you are looking for a home in
Detroit, MI. Detroit is the
biggest city in the state of
Michigan with a population of
about 706,000 people. The
Detroit metropolitan area is a
region with 5.2 million
inhabitants. Approximately 20
percent of the city population
works in the city center. The
city of Detroit is taking
measures to improve the living
conditions through business tax
incentives, entertainment,
residential high-rises and a
wireless Internet zone for the
companies downtown. Detroit
has a homeownership rate of
52.6 percent compared to the
national average of 64.7
percent.
Reasons to Love Detroit, Michigan
We’re a city on the comeback.
Metro Detroit has beautiful
parks, museums and structures
that date back to the 1800s.
We’ve got classic cultural
attractions and a few
exclusives: the Henry Ford,
America’s greatest history
attraction and the Motown
Historical Museum. New
restaurants, retail are
everywhere and three casinos
are open 24/7. Come and feel
Detroit’s energy. And make new
friends.
Auctions 101: Your Easy Guide
Auction: A public sale in which real
property is sold to the highest bidder
through open and competitive bidding.
Absolute auction: Highest bid wins,
regardless of price. Can often exceed
the price of a traditional, negotiated
sale.
Auctioneer, or Bid Caller: The person
who directs, conducts or is responsible
for a sale by auction.
As-Is: Selling the property without
warranties as to the condition or fitness
of the property for certain uses.
Ballroom Auction: Features multiple
auction properties, typically held in a
hotel ballroom or conference center.
Bid: A prospective buyer’s indication of
an offer of a price he or she is willing to
pay.
.
Bidder Information Package: The
assemblage of documents pertaining
to a particular listing that can be
reviewed by prospective bidders.
B r o k e r P a r t i c i p a t i o n : A n
arrangement for third-party brokers
to register potential bidders for
properties and receive a stated
commission if the client purchases
the property.
Buyers Premium: A fee, paid by the
winning bidder, added to the high bid
that results in the total contract price.
Due Diligence: The process of
gaining all pertinent knowledge
about the subject property.
Minimum Bid Auction: Auctioneer
will accept bids at or above a
disclosed price.
Multi-Property Auction: An event
of more than one property.
On-site Auction: Held at the
subject property.
Open House, or Preview: The
opportunity for prospective bidder
to visit and inspect the subject
property.
Reserve Auction : Requires
bidding to reach an un-disclosed
price before the property is
considered sold.
Stand-Alone Auction: Auction of
a single property.
Te r m s a n d C o n d i t i o n s :
Document specifying certain
aspects of the Purchase and Sale
Agreement.
Now HiringReal Estate Allstars!
JOIN US!
• Earn a virtually unlimited income
• Auctions benefit buyers, sellers and agents
• Enjoy unparalleled support, including weekly business coaching!
• Multiple positions available across the country, including: o Regional Directors,
managing multiple teams
o Team Leaders, Focusing on
business development
o Project Managers, Servicing
auctions
OR PARTNER WITH US!
•Keep your commissions•Retain your clients•Offer the Auction Option•Referral fees available,too
•We love working withtraditional listingREALTORS®!
INFO@
REALESTATEAUCTIONS.COM
Detroit Michigan
1517 Atkinson
Detroit, MI 48206
Class: Single Family Residential
Beds: 4
Baths: 1
Year built: 1914
Starting Bid: $4,800
38 Elton
Ecorse, MI 48229
Class: Single Family Residential
Beds: 3
Baths: 1
Year built: 1925
Starting Bid: $5,360
34 Cherrygrove
Ecorse, MI 48229
Class: Single Family Residential
Beds: 3
Baths: 1
Year built: 1936
Starting Bid: $3,200
20060 Biltmore
Detroit, MI 48235
Class: Single Family Residential
Beds: 3
Baths: 1
Year built: N/A
Starting Bid: $5,520
12391 Santa Rosa
Detroit, MI 48238
Class: Single Family Residential
Beds: 2
Baths: 1
Year built: N/A
Starting Bid: $3,600
13202 Stoepel
Detroit, MI 48238
Class: Single Family Residential
Beds: 2
Baths: 1
Year built: N/A
Starting Bid: $3,200
Detroit, Michigan Auction
July 10th 2014 6:00pm
Doubletree Hotel5801 Southfield Expressway Detroit, MI 48228
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inside_Brooks_detroit.pdf 1 6/26/14 2:29 PM
NEWSLETTER EXAMPLE
18 RealEstateAuctions.com
RealEstateAuctions.com 2225 E. Bayshore Rd. Suite 100, Palo Alto, CA 94303Email: [email protected] / Tel: 408-210-7582
SUPPORT MATERIALSBILLBOARD SIGNAGE
19RealEstateAuctions.com
RealEstateAuctions.com 2225 E. Bayshore Rd. Suite 100, Palo Alto, CA 94303Email: [email protected] / Tel: 408-210-7582
PROJECT SUMMARY Thank you for considering a real estate auction as the best way to sell your single-family home at 1695 Coral Tree Place in San Jose, California.
Outlined in this proposal is a roadmap to sell your real estate quickly, efficiently and for the best price. In these pages we have detailed our suggestions and the available options that can be employed, the highlights which include:
• Ballroom-style auction offering simultaneous live and online bidding• Absolute bid-style with no reserves and no minimum bid • Consideration of any and all pre-auction offers• A total of three open house inspection dates • Execution of all points contained within our Recommendations chart (Page 12)
We believe you will be pleased with the process and the results of the auction method of marketing and sale of your home. We appreciate the opportunity and we look forward to getting started.