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Experience is the Key that unlocks the selling of your home. Howard Hanna with 50 years experience in the Real Estate business and Pete Howes with 30 years experience in the Auction Services, brings together a complete marketing package. Pete and Julie A. Howes, whose renowned expertise and reputation in auctioneering have expanded into real estate in affiliation with the Chardon Office of Howard Hanna Smythe Cramer Real Estate and Mortgage Services. Pete has been a respected, licensed auctioneer since 1978, when he became the youngest licensed auctioneer in the State of Ohio. In addition to being licensed REALTORS, Pete and Julies' credentials include owning and operating Pete Howes Auction Service and Bloomfield Livestock Auction, conducting collectively over 100 auctions annually, serving auction clients throughout Ohio, Pennsylvania, New York, West Virginia and Indiana. Call for a consultation today. Let us sit down with you to discuss your needs and desires in todays' Real Estate market. The below information has been obtained from our experiences in the auction industry and was also obtained from articles from the National and Ohio Auctioneers Associations and Realtor.org. While the auction method has around for centuries, according to the National Auctioneers Association (Auctioneer Magazine December 2007) the market in real estate auctions has grown 39% between 2003-2006. In 2006 alone, the total amount of real estate via auction was 56.3 billion with residential real estate generating $16 billion in gross revenue. The National Auctioneers Association is projecting the live auction industry to pass the $257.2 billion worth of goods sold in 2006, and reach $269 billion in 2007. Providing auctions as a marketing tool for Real Estate has great benefits. Benefits to selling home at auction vs. traditional listing The #1 benefit to auction your real estate ..... A definite date for your real estate to sell is set by the seller! The following are great benefits: 2. Prepare the property once for auction day and open houses 3. Eliminates numerous and unscheduled showings 4. One - Two Open Houses unless otherwise decided 5. You have all "pre-qualified" buyers, they come prepared to buy Creates competition among buyers - auction price can exceed the price of a negotiated sale 6. An auction brings a sale at true market value, not a list price that has been negotiated down. Seller needs to completely understand that their home will only bring what the market will bear on the day of auction. Property to sell at its true market value on day of auction. 7. Takes the seller out of the negotiation process 8. Auction creates a sense of urgency, interested buyers must decide immediately 9. Ensures an aggressive marketing program that increases interest and visibility 10. Property is sold “as is”. Must abide by applicable state and federal laws. Appropriate documents regarding property are available at auction or prior. Home inspections must be done prior to auction at open house or 1 ½ hours before auction. 11. Sign up back-up bidder on secondary offer 12. 30 - 45 day listing All Real Estate is salable by auction but not all Real Estate is suitable to auction. Not every Home or Seller would be eligible for marketing by auction. All of the following would be discussed with potential Seller, case by case, to determine if the Seller is suitable to market their home by auction. Determining Auction Potential 1. Seller Motivation 2. Suitability of property 3. Buyer Appeal 4. Equity in property 5. Current market conditions 6. Value of surrounding properties. Neighborhood must be one in which buyers can qualify for a loan & are able to bring check to registration table Types of Auction Methods There are different types of auction methods. Choose the auction type that best fits the property and Seller needs. An auction can be an "Absolute Auction" where the home sells to the highest qualified bidder with no limiting conditions or amounts. The seller also cannot bid personally or through an agent when property sells as an "Absolute". If Seller chooses not to hold an Absolute Auction then home will be "sold with reserve". Reserve Auctions allow the seller to establish a minimum price, to reject any or all bids, or the right to withdraw the property at any time before the completion of the auction by the auctioneer. All auctions are Reserve Auctions unless otherwise stated.
Pete Howes Auction Service COMPLETE AUCTION SERVICE
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