Nice way to do business.

A Nice Way To Do Business.

While showing one of my clients a property, I found out it was going to auction. Right away I contacted the auction company and registered these buyers.

At the same time the buyers signed into the auction company, registered for  online bidding and also confirmed that I  was their  buyer representative. They started the bidding and within a few hours  found out they were  the winning bidders...and are now under contract.

Extra time  was found by using DocuSign for the first time last night. (How convenient that one of the contest  deadines is today.)

 

Everything was signed via DocuSign...the registration, the bidding, the contract, the EMD and the wiring instuctions.  The auction company sent the contract  for my signatures and initials acting as the buyer's agent. Once again the use of DocuSign was utilized.

Since this property had been a foreclosure ...I suggested (and received permission) that the contract be reviewed by counsel. Within  minutes a "swoooch" of the forward button, it was sent to the attorney for review.

It is a done deal! A ratified contract! And  settlement is scheduled for less than 30 days. 

Using this technology , at least three hours were saved on this one transaction. There was no scanning, no copying, no highlighting, no picking up escrow check, no  trip to the drive through bank to deposit the EMD,  no faxing, no forwarding and no printing. Clean and simple.

Nice way to do business.

What was done with those three saved hours? Glad you asked.

We went to a lecture this morning (had nothing to do with real estate) and enjoyed a nice lunch out with TLH.

Thankful I was still able to finalize a transaction. Thankful I was still able to enjoy the day with my husband. And thankful I still had time to write this post before midnight.

Accelerated Marketing – aka Auction – Sellers Need Options!

In today's market, a professional real estate agent owes it to the seller to consider and present all options for selling a home, especially when it has been on the market for a while.

There's a popular perception that "Auction" = "Distressed Property." That's a holdover from the Depression and the downturn of the 1980's, but no more true today than the idea that direct mail is the only way to advertise. In reality, "Auction" can mean "Non-contingent, cash deal, no closing costs, commissions protected." Doesn't that sound better? Bidders at an auction know they are going to pay only what they have to and are comfortable with, and sellers know they will get the best price possible. The point is, a creative and qualified auction company can create a buying audience of qualified buyers, build interest, and create urgency.

It's not unusual to see four houses on the same street for sale, all about the same. It's hard to sell in this situation as buyers play one against the other. But suppose three of the houses have realtor signs out front, and the fourth has an auction sign. That house is proclaiming it will be sold at a specific time on a specific date. As a potential buyer, why would you not come to that sale? We humans love to get a better deal, and "Auction" says we have a chance at doing better than bargaining with the owners of the other three houses.

In fact, that's exactly what happened yesterday. As you can see, there are several real estate signs including one auction sign for three properties. Yesterday morning we held the auction and two of the three properties sold.

Many Realtors® are not familiar with the options available with auctions, and so don't offer them to their clients as an alternative. Auctions allow you to customize terms and conditions the way you and your seller want them, and there are different types of auctions to choose from. Why not put the auction tool in your real estate toolbox?

Accelerated Marketing for a Decelerated Market

Is there anyone out there who hasn't felt the change? That engine that was roaring ever onward and upward ran out of gas, and now we're coasting. Okay, we have a different market, but that doesn't mean we can't still get people to look at and buy houses.

You might remember my earlier experience with what I call "Accelerated Marketing." Yes, it's an auction, but it's more than that. Case in point – yesterday on Stevenson Road in Baltimore. We decided to apply Accelerated Marketing to this wonderful stone rancher, along with five other properties, all scheduled for January 10. January in Baltimore can bring anything from balmy sun to slushy snow; we ended up in between with a kind of raw, overcast day.

You can imagine how delighted I was, then, to see a crowd of at least 60 people show up for the walk-through and auction on Stevenson. There were several bidders, and even though we did not reach a level that met the buyer's reserve, I still count the event as a success. Many more people saw the house than ever before, and people who are willing and able buyers know about it now having taken the time to walk through. For this house and the other four, I was careful to set low expectations with the owners – we went into the day with the expectation that none of the properties would sell. When your goal is exposure and activity, the sale becomes a bonus.

What happened with the other five properties that had their own Accelerated Marketing events? As we expected, the turnouts varied at Milford Road, Strathmore Towers, Old Post, Griffin Way, and Autumn Frost. But we still had good success and then some - two of the five sold! There are two more events tomorrow, one in country-like Havre de Grace and another in picturesque Dickeyville. Then we wrap up this series on Tuesday at Clarks Lane.

I'm feeling very positive about this way of marketing real estate. As we do more of these I'll be talking again the advantages for both the seller and the agent. I see it as a win-win in a time when we hear too many lose-lose stories.

A Perfect Day for Accelerated Marketing

The day dawned cool and bright – perfect for the accelerated marketing event (some know it as an auction) of an historic church property belonging to the gifted artist and my friend, Tatiana. As the temperature slowly climbed and the sun shone through the tall trees surrounding the buildings, people gathered for the 11:00 a.m. event. The auctioneers from Auction Brokers set up a tent and had music playing while people wandered the grounds and explored the church building, modern addition, and kiln building.

Then it was time to start. People stood around, some in the sun, some in the shade under the apple and pear trees along the driveway. After making the official announcement about the terms of the sale, Paul had me say a few words to the crowd. Really. A few words – he told me to keep it brief. And when I did, he made some crack about never having heard me say so little before. The nerve!

Then the auction started in earnest. Paul has a wonderful voice, and his classic auctioneer song rang over the speaker system as his assistants kept in close touch with the group of serious bidders. When it appeared the bidding was just about over, he called a brief recess so we could phone Tatiana in New Mexico for approval of the price. Then one more short bidding opportunity, and it was done. Sold!

No, I won't tell you what it sold for yet – settlement is October 20. But I can tell you that Tatiana was satisfied with the price, the new owner knows the neighborhood and has a sense of the history that goes along with his purchase, and I felt the auction was a success.