Auction Services
Discover Pacific Investment Properties Auction Advantage
Professional and Exclusive marketing for San Diego, Orange & Riverside Counties to sell your property FAST, at market value!
Pacific Investment Properties is a full service Real Estate Brokerage and Auctioneering Company specializing exclusively in commercial real estate.
At Pacific Investment Properties, we are very selective in our representation, and offer our brokerage and auction services to a limited number of exceptional clients and properties. Our clients are assured of total commitment, dedicated service, professional representation and ultimately, a successful sale!
Our real estate team is comprised of specialists in the real estate and auctioneering field with extensive knowledge in every aspect of real estate marketing and dispositions.
WHY SHOULD I CHOOSE TO AUCTION MY PROPERTY?
COMPETITIVE MARKETPLACE
 The auction method of marketing creates a form of competition that cannot be duplicated. Each bid reinforces the market value of the property. This affirmation of value encourages other participants to continue bidding. Within all of us is a tremendous need to win. In a traditional real estate sale the buyer satisfies this need by negotiating the seller down. In an auction the buyer can only win if he outbids all other bidders.
The auction brings all interested parties into one place at the same time for a single purpose - to determine who will pay the most for the property. All interested parties are "forced" to make a decision. Getting an Interested person to act Is the most difficult thing for a conventional broker to do.
SELLER HAS CONTROL
Traditional brokerage allows the buyer to control the terms of the sale, including closing date, amount of deposit, inspections, etc. However, the auction method places this control in the seller's hands, eliminating most contingencies which would cause renegotiating or slowing down the sale in the conventional method.
The style and terms of the auction are established by the seller. All buyers are bidding based on a common set of terms and conditions. The seller stays in control throughout the process. There are four basic types of auctions:
- Absolute Auction - The property will sell to the highest bidder regardless of price. This will bring the most buyers to the sale due to the knowledge that they will not be spending their time at an auction where the property may not sell. In drawing a larger crowd, the excitement level will be raised and the bidding will become much more intense guaranteeing that the property will sell for top dollar on auction day.
- Minimum Bid Auction -The seller agrees to sell to the highest bidder after a pre-set minimum price is reached. Minimum bid auctions work well when the pre-set minimum is set below fair market value.
- Reserve Auction - Allows the seller to either accept or reject the highest, final bid. While this may generate less enthusiasm, it does allow protection to the seller.
- Sealed Bid Auction - Bidders have a deadline and all bids must be submitted prior to that deadline. Not typically used, but this procedure can be effective in certain circumstances.
ELIMINATE CARRYING COSTS
The carrying costs of the property are eliminated upon selling the property at auction. The auction will eliminate expenditures such as the property's mortgage, property taxes, insurance and maintenance. These can be extremely expensive on larger properties.
MISSED OPPORTUNITIES
There is a cost of lost opportunities associated with holding idle real estate. Consider what investment opportunities may be lost while your equity is tied up in unproductive properties.
TIME VALUE OF MONEY
The principle of time value of money suggests that a dollar received today !s worth more than the same dollar to be received at a later date. The traditional method of private treaty sales has little ability to capitalize on this principle. While real estate may never be as liquid as stocks or securities, the auction method increases your liquidity significantly. An auction's accelerated marketing and closing dates allow the seller to close the escrow more timely. Now that you have your money sooner, rather than later, it can be reinvested to begin earning dividends on that money!
QUALIFIED BUYERS
 Auctions virtually eliminate the non-serious prospects with their "low-ball" offers, A non-refundable auction option fee Is due from the buyer at the time of the auction. The non-refundable auction option fee reassures sellers that the buyer is serious and has the ability to secure their financing promptly.
EXCITEMENT
Excitement and motivation are used to the fullest with a public auction. Our professionally trained staff applies continuous motivational pressure to the buyers to gain every dollar possible. This sense of excitement works to create the psychology of an impending sale, which is so critical to the success of your auction.
URGENCY CREATED
Prospects can no longer be hesitant on negotiating price, performing due diligence or securing financing. With the property set to sell at a specific time on a specific date, buyers know that they must act decisively or otherwise lose the property. This urgency creates momentum which can cause buyers to bid above their original self-imposed price limitations.
Find out how a customized Pacific Investment: Properties Auction can help you efficiently sell your real estate CONTACT US TODAY!
|
