EVENT AUCTIONS
THE ESSENTIALS
This marketing solution achieves accelerated sales and minimizes prolonged carrying costs. An accelerated marketing program, or auction, is a condensed advertising program and open house process which puts hundreds of qualified buyers together to produce a competitive bidding environment. Launching an accelerated marketing program will increase your development's market presence and attract a ready, willing and able buying pool.
MARKET SURVEY AND ANALYSIS
Cornerstone Partners begins by generating a comprehensive analysis on market conditions, local demographics, employment rates, and income levels affecting the subject development. Our in-depth analysis includes researching comparable properties and the local real estate market, identifying your competition and formulating precise pricing structures. These reports assist us in suggesting a minimum reserve bid for your inventory on auction day.
Auction events typically bring one year's worth of qualified traffic to your development in a three week period. The published minimum bids create a perceived once-in-a-lifetime buying opportunity for the general public. One of the keys to a successful auction is establishing an accurate minimum selling price. By setting the minimum selling price at the precise level, two key objectives are achieved:
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MARKETING PLAN AND STRATEGY
Our media plan is customized for your development. It includes our complete strategy for marketing of the upcoming event auction, together with the marketing budget, public relations campaign, media coordination, and broker, business and community outreach.
The publicity for this event auction takes place in print publications, online outlets, electronic media, direct mail and targeted public relations and call center campaigns. This multi faceted media plan allows the general public three weeks to inspect the property and perform due diligence, and culminates with an auction at which buyers bid on a home, sign a contract, leave a non refundable deposit and realize they will close within 30 days.
SALES CENTER AND SELLING TOOLS
Cornerstone will handle the set up and operation of an auction information center. We coordinate every possible sales element, from logo and website design to brochures and on-site signage, staffing and facilitation of auction information.
SALES STAFF AND MANAGERS AT YOUR SERVICE
24 hours a day, 7 days a week, dedicated sales associates and sales managers run a hands-on operation for you. Each event auction is assigned a project manager to assist the on-site sales staff and work closely with the developer to make sure that Cornerstone meets every possible need. A Cornerstone Partners principal is onsite to supervise the information center staff and personally handle any issues that might arise.
IN-HOUSE LENDERS/CLOSING COORDINATION
Cornerstone works with all major lending institutions, to help you choose the right lender for your event auction. The on-site lender works with customers, offering them appealing financing options and making sure all purchasers are qualified and approved. Winning bidders sign a contract on auction day, and close within 30 days.
TRANSACTION MANAGEMENT SYSTEM
Your development receives a dedicated transaction management program. This state of the art system allows you to log on at any time and check the status of your event auction activity remotely. You'll have 24 hour, immediate access to the, daily, weekly and monthly traffic, financing commitments, number of bidders registrations obtained and number of visitors to your website. Even the leads database is available, so you can see exactly what actions are being taken to convert traffic into bidders.
AUCTION
Cornerstone Partners will orchestrate an outstanding event auction, and coordinate all auction activities. From bidder sign in to closing room procedures, we will ensure no detail is overlooked. The presentation of our professional real estate auctioneer is impeccable, and is crucial in maximizing the final sales prices. The atmosphere of the event will be exciting and highly professional.
POST AUCTION SERVICES
The auction event achieves a true market value for the homes being offered. However, Cornerstone Partners recognizes that circumstances may arise that require additional support. If needed, we can offer a solution for you to sell any remaining inventory through our post auction sales program, or replace fall-out from contract cancellations.
Please contact us for additional information on our services
- The Auction process allows you to liquidate your real estate and reduce or eliminate holding costs
- Auctions accelerate the sale of your property
- Buyers come prepared to sign contracts, preapproved by our designated lender
- Creates competition among potential buyers – An auction price of a property can literally surpass the price of a conventional sale price of a similar property
- The seller knows exactly when the property will sell
- Takes the seller out of the negotiation process
- Ensures an aggressive marketing program that increases attention and visibility
- Properties are purchased at true market value
- The buyer knows the seller is committed to sell
- Buyer determines the purchase price
- Auctions eliminate long negotiation periods
- Auctions reduce time to purchase property
- Buyers know they are competing fairly and on the same terms as all other buyers
