Presented By First Agency Group, Real Estate Services
Howard Kuhnell, Auctioneer and
HomeBidXpress.com
The Auction Process
Howard Kuhnell, Auctioneer and First Agency Group, Real Estate Services create a Dynamic team approach to selling real estate at live on site auctions under the traditional methods. With a combined 52 years of experience, this team delivers solid advice, marketing, bid calling and follow through to the closing
Types of Auctions
The Reserve Auction allows the seller to pre-set a minimum opening bid requirement with a set final reserve price not disclosed to sell. If the reserve is a hit, then the seller accepts and enters into a contract to sell. If the reserve is not reached then the seller is not obligated to sell.
The Absolute Auction places the property at auction to the highest bidder.
Marketing
With the traditional auction, a complete marketing out line for a 6 week period and budget is created and approved by the seller. The seller is responsible for the marketing budget in advance of the sale.
Fees
Traditional auctions at First Agency Group, Real Estate Services are nearly always 100% of the time, paid for by the buyer of the property at auction. There usually is no commission to the seller. Instead, during the auction, all bids being called are net figures to the seller. If accepted, then a pre-established and disclosed buyer premium is added to the net figure and creates the final sales price.
Days to Sell
Unless otherwise agreed to by the seller and auctioneers and Real Estate Agency, most sales take place within 6 weeks of signing the contract. The first 2 weeks are designed to initiate and begin implementation of the marketing plan. The next 4 weeks are solid marketing of the property which includes advertising and holding open houses.
