What factors determine the success of an auction?
• The desirability of the property being sold. This includes location, condition and surrounding properties. • An aggressive marketing and advertising plan geared to prospective purchasers. • Realistic expectations on the part of the seller. • Selecting the type of auction that best suits the property and the seller’s needs. • Conducting the auction in a professional manner and following up through closing.
• Foremost is the desirability of the property being offered for sale. This includes location, condition and surrounding properties. • An aggressive marketing and advertising plan designed by Brenmar Advertising which is geared toward prospective purchasers and drives them to the sale. • Realistic expectations on the part of the seller. • Choosing the type of auction that best fits the property and the seller’s needs. An absolute auction will generally bring a higher return than a reserve auction. • Conducting the auction in a professional manner and following up through closing. • Performing due diligence (reviewing taxes, survey, environmental, etc.) before the sale and providing it to potential buyers so that they are educated and the only issue that remains is price.
