 Key Elements In Successful Real Estate Auction
Marketing
A successful real estate auction marketing program is
a strenuous and exacting undertaking. Many critical
elements must be carefully coordinated to produce
optimum price. Extensive pre-sale planning and
preparation, with careful attention to detail must be
connected to an exciting and aggressive promotional
campaign and the transaction completed through a
skillfully executed sale and a smooth, no surprises
closing.
Key Elements in a Successful Auction of Your
Property Include:
- PREPARATION AND PACKAGING: Includes making
the property "sale ready" or cost effectively making
the property look its best and subdividing/packaging
the property so that it appeals to the broadest
market, that is, to the largest number of potential
buyers in several different markets simultaneously.
- PROMOTION AND ADVERTISING: Not just writing
paid ads but conceiving, developing, designing and
producing effective, attention demanding advertising,
then placing it in the correct media, at the correct
time, in the correct frequency, all to produce a
thorough, complete and exciting campaign, commanding
attention and attracting the interest of potential
buyers in target markets throughout defined,
geographic & demographic markets.
- SALE DAY EXECUTION: Requires skilled,
experienced professional auctioneers, ringmen,
clerical and support staff working smoothly,
efficiently and effectively as a team, with every
action directed to maximizing sale price; intuitively
recognizing and encouraging potential buyers to bid,
and bid again - adjusting strategy during the progress
of the sale, always with one goal - to achieve top
market price by maximizing competition.
- POST SALE FOLLOW UP: Nothing has been
accomplished until the money and the deeds have
changed hands. Follow through to the closing table is
imperative and requires critical coordination between
the seller and the buyers, attorneys, surveyors,
lenders and many other parties.
No two properties are identical. For this
reason, your auction organization must be keenly aware
of all the variables regarding the subject property and
the marketplace at the time of the sale. There are
many facets which must be precisely tailored to meet the
specific property and the markets to which it must
appeal.
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