| Auctioning something as substantial as a piece of | | | | the sale of the property has their own Internet |
| real estate, especially someone's home, requires a | | | | site. An advertisement on this site, as well as any |
| well-rounded advertising campaign that captures | | | | other appropriate sites, will further enhance a |
| as much public attention as possible. Unfortunately, | | | | seller's ability to reach as many potential bidders |
| the available ad budget does not always provide | | | | as possible. |
| the necessary funds that would give the property | | | | Last but not least is the PIP, which stands for |
| the vital exposure it needs to insure the best | | | | Property Information Packet. Before most people |
| auction result. | | | | can get excited about a particular piece of |
| The most important piece of an effective | | | | property, they need to know why it would be a |
| marketing campaign is television. Although it gets | | | | good choice for them. They need to know |
| the best results, it is also the most expensive, | | | | exactly why they should want to live there. The |
| and is therefore not always part of the strategy | | | | pertinent information usually included in a PIP is a |
| for maximizing interest. If television must be | | | | detailed description, photographs, home inspection |
| removed as an option, then it is essential that all | | | | information, terms of the sale, financing availability, |
| other venues be vigorously pursued. | | | | purchase and sale agreement and a conveyance |
| The first of these is print media with ads to run in | | | | of title. |
| local, national and perhaps even international | | | | Quite a bit of the excitement generated will come |
| newspapers and magazines - depending on the | | | | from the auction format itself. An atmosphere of |
| value of the property. A vast number of | | | | "now or never" exists and all the participants |
| properties are sold to people who live outside of | | | | involved only have a very few minutes to decide |
| the country and a failure to target that audience | | | | if they are out or they are in, if they are a buyer |
| can be fatal to the chances of having a successful | | | | or not a buyer. It can be quite an exhilarating |
| auction. | | | | experience. |
| Direct mail brochures to a targeted audience of | | | | Selling both parcels of land and homes via auction |
| real estate brokers is a necessity. Not only are | | | | is becoming more and more popular. The risk of |
| you showing the property to the brokers | | | | having to wait weeks and maybe months to sell a |
| themselves - in essence you are showing the | | | | property is no longer a concern. Once a date for |
| property to every single one of their clients. Also, | | | | a sale by auction has been established, the entire |
| professionally made signs strategically placed in | | | | transaction is complete within a couple of weeks. |
| the general vicinity of the property can draw a | | | | The auction company and the seller need to |
| big response, especially if these signs appear on | | | | make sure that there is no confusion as to who |
| roads that carry a heavy traffic load. | | | | pays what expenses, such as the advertising |
| The next best thing to television advertising is the | | | | costs. The auction house is paid a percentage of |
| radio. People who are successful are people who | | | | what the property sells for. At traditional auctions, |
| are busy. Many of these people do not have a lot | | | | such as an antiques and collectibles sale, the |
| of extra time to sit around reading | | | | auction house is responsible for all costs |
| advertisements. They do however usually spend a | | | | associated with putting on an auction. It comes |
| considerable amount of time in their automobiles. | | | | out of their commission. However, the advertising |
| Running radio spots during morning and afternoon | | | | bill for selling a piece of property can be rather |
| drive times are real attention grabbers. One or | | | | high. Make sure a written agreement has been |
| two radio ads will not an impression make so be | | | | reached as to who covers this expense. |
| sure that, in addition to having extra money | | | | The average amount of time it takes to sell a |
| available in the budget, the ads are done and | | | | house at auction, once the auction begins, is |
| ready to go in advance. | | | | roughly 10 minutes. It is hard to find a real estate |
| Most likely the auction company that is handling | | | | agent or a real estate broker who can beat that. |
