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Auctioneers Use Marketing Skills & Urgency to Sell Property FAST! January 15, 2008

Posted by AlynnROCK Group in Auction FAQ, Auction News, home auction, real estate auction, Real Estate News.
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auction_img1.jpg Auctioneers are trained today to be experts in marketing so they can bring exactly the right bidders to their auctions, making an effective sale with a good price for the seller in a timely fashion. In fact, a typical schedule today for an Auctioneer to sell a home or commercial property at auction is 45 days from the time a contract is signed with the seller to the day of auction. And immediately after the contract is signed, the marketing begins.

In that 45 day period, the auction company is sending targeted emails, direct mail brochures, placing newspaper advertisements, putting signage at the property and nearby locations and using other marketing techniques. All the advertising conveys a sense of urgency that the property will be sold on that upcoming auction day.

This increased effort in marketing property, above what can usually be done in a tradtional real estate listing, is often what draws bankers, attorneys, court appointed trustees and others to turn properties over to Auctioneers for a rapid and successful sale.

Potential bidders get the message that this property is not languishing in a traditional real estate listing, but is in an auction process where there is a set time for parties to preview the property, place a deposit to bid, and show up on auction day. It is this sense of urgency and structure that often moves bidders to act, instead of allowing them to delay, consider further, and delay more.

Auctioneers are learning ever-more sophisticated marketing techniques in seminars, real estate auction programs and by networking with peers who are using technology well. Auctioneers today know the real key to making an auction successful is not talking fast during the auction, but it is getting the right people at the auction and moving them to bid.

In a slow real estate market, like today’s, more sellers are turning to auctions because they have investigated this method and see it is successful. Real estate auctions are the fastest growing of all auction categories.

The general public is hearing more about the auction method today because of eBay and other online auctions, and the average person is more willing to try selling any property at auction, including real estate. The wise seller, buyer and Auctioneer will all work together for a win-win-win deal using the auction method.

{Article written in the National Auctioneers Association “Auction Advantage Newsletter – Winter 2008 Edition”}


NEW Auction Network to Showcase Programs & Live Auctions Nationwide! January 10, 2008

Posted by AlynnROCK Group in Auction News, real estate auction, Real Estate News.
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auctionetworklogo1.jpg A new television network is being launched nationwide that will broadcast many types of auctions and will show auction contests, Auctioneer personality features and other related programs.

The Auction Network debuts soon at www.auctionnetwork.biz, and will expand to cable and satellite television in 2008. Viewers will watch exciting auctions of estates, cars, real estate and other properties, as well as learn details of how to succeed with buying and selling at auctions.

The website debut format for this network will use “Internet television,” which is TV programming delivered to personal computers, mobile devices, set top boxes, and even your television – all via the internet.

Internet television sites offer video on demand programming, archive and keyword search, the ability to download desired content, and live events. The Internet television marketplace is at a tipping point, with 22% of United States Internet users watching video monthly or more frequently, so this format is expected to continue to grow.

This new 24-hour-day auction network is expected to draw strong viewership from the 70 million people who attend auctions annually. Auctions today are the subject of 46.7 million books, magazines and videos. There are 160 million Internet auction links online. Consumers seemingly have an insatiable appetite for auctions. The live auction industry totaled a record $257 billion dollars in sales in 2006 and continues to increase each year. 57% of consumers have attended a live auction, and they spend an average of nearly $1,000 when doing so. Studies show that 86% of auction attendees believe they are a way to get good values and 75% involve their whole family when attending auctions. All this considered, auctions are a family-friendly subject that appears to have been previously overlooked as a television network.

Indeed, with over 200 existing and emerging cable TV networks in the U.S., none are dedicated to the topic of auctions. Few auctions programs currently exist on U.S. television, and even fewer establish adn emotional connection for viewers. Yet digital networks in the United Kingdom and Germany run over 100 daily live auctions, generating millions of viewers and registered bidders monthly. Any entertainment professional could see from these statistics that a significant void exists in the area of auction programming.

The Auction Network’s greatest potential for the industry is to help bring auction and Auctioneers to the forefront of public perception. The network intends to facilitate the exposure the industry needs as that perfect blend of exciting commerce and world class entertainment in the United States and abroad. The Auction Network is like a sporting event that’s national, internatinoal, live and interactive. Be sure to tune in and enjoy!

Published by the National Auctioneers Association in the “Auction Advantage” Fall 2007 Quarterly Newsletter

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Bankers, Lawyers & Trustees are Increasingly Employing Auctioneers January 3, 2008

Posted by AlynnROCK Group in Auction News, Real Estate News.
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When a bank has property to sell, or an attorney has a client’s assets to dispose of, or a bankruptcy judge or trustee needs quick action on a newly-acquired proerty, more of these professionals are turning to experienced Auctioneers for a timely and professional sale of property.

Today many Auctioneers are highly-trained in all aspects of property sale, including the applicable laws, standards of practice and valuation procedures. Auctioneers know they must be a “one-stop service center,” ready to quickly take over all aspects desired by a trustee, banker or lawyer.

One fast job an Auctioneer does is providing prompt but informal valuation service. At the beginning of a new case a bankruptcy trustee knows very little about the debtor’s assets and usually has not seen the assets. The Auctioneer is the trustee’s eyes and ears. He finds out the condition of the property, how it has been maintained, determines if it can be sold in “As Is” condition; and what its approximate value is.

If the property has enough value to warrant and auction by the bankruptcy trustee, the trustee will then formally hire the Auctioneer and negotiate payment arrangements, all of which must be approved by the bankruptcy court.

As a case example, a bankruptcy trustee can be appointed the Chapter 7 trustee to liquidate a local hardware store. The store’s assets include the inventory, a store lease, a trade name and some equipment and supplies. The trustee’s first job is to take posession of the store, change the locks and provide necessary security measures. Most trustees expect their Auctioneer to provide these security measures, and to do so within a few hours of being called by the trustee.

A trustee recently described this by saying “When I am assigned a new case I want the Auctioneer to be able to immediately go to the debtor’s business location, arrange for any necessary security (changing the locks, etc) and make sure the property is protected from damage. In the case of real property, I want the Auctioneer to see if the property is heated and to recommend and implement steps like draining water, providing heat or making sure alarm services are working.”

Professionals look for reliability, honesty, integrity and responsiveness in their Auctioneers. They may also want the Auctioneer to prepare a detailed inventory and also needs to determine what is owned and what is leased. While a trustee will order records of liens and security interestes, the Auctioneer must provide practical help. If the hardware store is leased, for example, and the trustee continues to occupy the store the trustee is liable for rent and utilities.

Bankers, lawyers and other business professionals also expect the Auctioneer to provide same day service in situations where the property is at risk. Auctioneers know this, and they will also remove any personal property to a secure warehouse or other location, if needed. Auctioneers do much more than call bids on auction day.

The Auctioneer is the trustee’s eyes and ears.

This article was in the Spring 2007 newsletter entitled “Auction Advantage” which is distributed quarterly by the National Auctioneers Association.

Pleasanton Auction Draws Huge Crowd! December 18, 2007

Posted by AlynnROCK Group in Auction News, Real Estate News.
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cimg5304.jpgThe lightning-fast sale of 4040 Jensen Street in Pleasanton has created quite a buzz! Prior to the auction, there were three Auction Previews (two hours each) and over 280 people came by to take a look! Some were neighbors (who, by the way, are absolutely fabulous!), some were investors, and some were obviously homebuyers who were looking for a great place to move to.

Just a few days before the sale, Jeb Bing, the Editor of the Pleasanton Weekly interviewed the seller of 4040 Jensen Street and shared her story in his weekly editorial “Around Pleasanton” which printed the day before the auction. He even took some video of the actual auction and put it on YouTube!!!

Saturday’s sale caught the attention of Channel 2 KTVU and their story aired on the 6:00 and 11:00 news Saturday night!

There were between 100-125 people on the front lawn and into the street who came to watch. Prior to the sale of the home, a Christmas Basket was sold for charity and 100% of the proceeds were donated to the Pleasanton Weekly Holiday Fund to benefit local non-profit organizations in Pleasanton.

The Minimum Bid of $299,000 was quickly surpassed by the nineteen registered bidders and it came down, as it always does, to the last two bidders with a final sale price of $478,500. The winning bidders plan to renovate the property and move into one of Pleasanton’s most sought after neighborhoods! The ease and simplicity of the auction transaction have left both Seller & Buyer very satisfied with the sale!