Selling Real Estate in a Buyers Market 

When selling your home, the value is determined by one thing - What someone will pay.  When Sellers consider "Putting their home on the Market" they are told that it is all about Location, Location, Location... as well as Curb Appeal, listing with the right agent and Staging.  In today's market, the buyers have the luxury of being select and deliberate and they are aware of their advantage.

With this fundamental situation, literally thousands of properties are "sitting" on the market. With each passing month with no offers and few showings, it is time for a change of direction in strategy.  One solution is a Real Estate AUCTION.

AuctionFirst realizes that the key issue is, ‘Market Value'.  This is defined for how much the public is going to pay for the house.  If a house is sitting on the market, it has no value, except to the seller.

Working with the Experts   --  AuctionFirst works directly with the Experts that have Real Estate for Sale.  The Advantage is that these professionals know the property and often have the relationship with the Seller.
    -Realtors: AuctionFirst has a Continuing Ed Class that provides information to Realtors about Auctions.  This gives them the advantage in knowing the ‘Essentials of Auctions'. 
   - Builders & Developers: realize how to "create" increased sales.
   - CPAs, Attorneys, Mortgage Brokers and Lenders can all benefit from the Auction Advantage as this fresh approach may provide the solutions they need.

Read More about a great example of ‘Success' when a Realtor referred a home to AuctionFirst.  This home was on the Market for 2 years and Sold ‘Prior to Auction' for more than the previous listing price.

Applying the Auction Rules to Listing and Declare it ‘GONE'!  

Going, Going, GONE!  Great sound to an Auctioneers Ears.

"It is all about the word AUCTION", says Christy Kimbro with Fonville Morisey, Chapel Hill, NC.  She had this wonderful house listed for over 2 years and did unreal Marketing.  AuctionFirst had a contract within 10 days, prior to the auction date of July 23^rd.  It seems that the word Auction on the Sign brought immediate attention to this property? 

"When the Auction Sign went up, the offers started coming in."

The concept of an Auction, provides the essential dynamic that the seller needs.  The first step is Motivation.  The second criteria is that Sellers and Realtors are encouraged to be "Results Oriented" rather than "Price Oriented".  

Chapel Hill, NC -  What do you do when your Chapel Hill home sits on the market for two years without a single offer?  Real estate broker Christy Kimbro of Fonville Morissey has a ready answer - auction it!  "Chapel Hill has a great history of auctions," says Sarah Sonke of AuctionFirst North Carolina, an auction marketing firm headquartered in Raleigh.  "A land auction is how the town of Chapel Hill was initially jump-started in the late 1700s.  So it's really fun to bring the concept full circle again by auctioning the home at 740 East Franklin Street." 

For Kimbro, a licensed broker with Fonville Morisey, the Franklin Street property is the second high-end home she's referred to auction this summer.  The first, a country estate in Orange County, quickly went under contract through the auction method.  "The results speak for themselves," says Kimbro who has completed a special real estate auction class.  "The property at 3939 Pleasant Green Road, known locally as the Train House, had been on the market for two years without an offer. AuctionFirst's accelerated marketing plan found two buyers within 10 days.  Auctions are a powerful tool for agents to employ in selling real estate."

 "We specialize in thinking outside the box," says Susan Deitz, AuctionFirst Marketing Manager.  "For the Franklin Street home, we've brought together a wonderful group of local businesses to help showcase the home using their talents and services.  The results will be unveiled at an Open House Gala on Sunday from 2-4 pm which will include informal free seminars on How to Buy and Sell at Auction and Home Staging.

Most people think ‘foreclosure' when they hear about a real estate auction.  "That's simply a stereotype," explains Sonke, a licensed auctioneer and broker.  "Foreclosure auctions on the courthouse steps get all the media attention and licensed auctioneers aren't even involved in those sales.  In many parts of the country, auctions are a very efficient and effective tool to sell real estate in good times and bad. This is how real estate is primarily sold in Australia, South Africa and Europe and it's rapidly catching on in urban areas of the USA.  In fact the National Association of Realtors had predicted that within ten years, a third of all residential homes will be sold by auction. And a new TV network is starting that's totally devoted to auctions.  It's a very efficient way to sell all kinds of real estate including land and commercial property," says Sonke.  "But we average about 200 hours per auction project, so it's a lot of hard work too."

Hilltop House on Franklin Street is located at 740 East Franklin in Chapel Hill and will be auctioned onsite by AuctionFirst on Thursday, July 26 at 3 pm.  Details and photos of the house are available within an auction bid package prospective buyers download from the auction company's website: auctionfirst.com.  It's open for public viewing the next two Sundays from 2-4 pm. For information call Susan Deitz at 919-601-0640.

Did you catch the June edition of Realtor magazine - there was an entire article written about how realtors can benefit by learning more about real estate auctions and utilizing them in their course of services to clients and customers. 

Learn the basics of auctioning real estate.  This 3 hour class "Real Estate Auction Fundamentals" will walk you thru the opportunities/benefits to buyers, sellers and agents - and is open to real estate professionals and the public.

Summary of Course Objectives
As a result of this instruction, students will:
1. Possess the knowledge, skills and competence required to identify and properly represent consumers who would best be served by selling their real property via an auction.

2. Improve representation and support of clients as a Buyer Agent at an auction sale.

3. Demonstrate fundamental working knowledge of the auction process, key terms and principles leading to improved communication and working relationships with clients, auctioneers and auction firms.

4. Learn the basic license law governing real estate auctions in Texas.

5. Make key decisions on properly integrating the auction method of buying and selling real estate into their full range of consumer services.

6. Know the 3 times when you should ALWAYS consider an auction for your client's property.

7. Learn about multi-parcel auctions (as written in February's Texas Realtor magazine)

CLASS DATE/TIME:  Thursday July 19 2007 from 9:30am to 12:30pm
CLASS LOCATION:  Chicago Title, 1501 S Mopac Expwy Suite 130, Austin TX
COST: $40. Pay at the door
RSVP: LindaM@auctionfirst.com or call 512-255-9502

This class is approved for 3 hours of MCE elective credit by the Texas Real Estate Commission as Course #4880 and Provider:  #0443

Instructor:  Linda Mardi is President and co-founder of AuctionFirst, a real estate auction marketing/brokerage company licensed in TX, NC and VA.  Linda is a TX Realtor and auctioneer and a CA licensed attorney.