Learning Lab AuctionsAddressing the Most Common Questions

Mike Jones & Shawn Terrel

How Do I Play the Auction Card?Find Information on the Intranet

How Do I Play the Auction Card?

• Go to the Auctioneer Directory on ucauctionservices.com and find an auctioneer near you

• Call us – we will find one for you

How Do I Play the Auction Card?

Is my Listing a Good Auction Candidate?

Step 1 : Determine Sellers Fit

Step 2 : Assess Seller’s Motivation

Step 3 : Understand Property Sales History

Step 4 : Establish Price Expectations

Step 5 : Confirm Property Information

Is my Listing a Good Auction Candidate?

• General Disqualifying Factors : • Unrealistic pricing expectations• Property is pending litigation• Long listing period without price reductions• Seller overbearing/hard to work with/difficult• Seller has hired multiple qualified auctioneers & has been

dissatisfied with all of them• Unwillingness to give control to the Auctioneer• Multiple past failed auction attempts• Seller prediction of failure• Unwillingness to provide upfront marketing funds• Unwillingness to fix bad condition issues• Determining seller has not disclosed significant property

information

How Do I Target an Auctioneer in My Area?

Tom Saveri saw an opportunity in his market area to incorporate professional auction services into his United Country Real Estate office. 

How It Worked For Tom:– evaluated auctioneers operating in his service area and

targeted a professional firm (Randy Jelliff Auction Service)

– approached the firm about creating a joint venture opportunity which would serve both companies needs. 

– Randy Jelliff accompanied Tom Saveri to the 2011 United Country National Convention, attended the training and awards functions and used the opportunity to sell Randy on the value that United Country delivers to our franchisees. 

– They reached an agreement shortly after attending the convention and today have established a “full service” real estate and auction company which has grown by 62% over the past year. 

Case Study:

How Do I Pursue a High Profile Property?

• Before you contact the client, call us - we will help you!– Home office assistance

• Initial conversations with seller• Auction Proposal • Auction Marketing Plan - EMS

– Connect you with an appropriate auctioneer nearby or specializing in this type of property.

What’s the Difference Between Online Only Auctions and Live Auctions?

• On-Site or Live Auctions• Properties can be bid on during a live event only

• Online Only Auctions• Properties are available to bid on online only

• Blended Techniques• Properties appear online before auction date and can

be bid on prior to the live event and during live event through a live simulcast

Why Broadcast My Auction Online?

• With Proxibid, it’s FREE!

• Lead generation

• Property promotion

• Company promotion

• Shows you and your company are cutting edge innovators

• Allows you to offer your client the highest level of service available

How Do I Engage with Colliers?

• United Country offers auction marketing solutions to Colliers’ sellers.

• Colliers delivers commercial property expertise to United Country’s clients.

• Colliers and United Country work together to determine the most effective alignment of resources designed to accomplish sellers’ goals.

Interested in learning more?– Contact Mike Jones, President United Country Auction Services at

mikejones@unitedcountry.com – Fill out the Commercial Property Qualification Questionnaire on the

intranet (http://www.ucintranet.com/auctionservices/UCAS-Commercial-Property-Auction-Qualifying-Questionnaire.doc).

What Are the Keys to Creating a Killer Auction Proposal?

• Believe in the project• Always be professional• Color printing on quality paper• Provide as many copies as needed and a few

extras• Dress appropriately – Match & Mirror• BE ON TIME

What Are the Keys to Creating a Killer Auction Proposal?

• The Proposal Format– Letter of transmittal - personalized to all parties introducing the proposal– Table of Contents– Executive Summary - identifies objectives, costs of conducting auction, marketing fees, etc.– Company Overview – brief history, case studies, awards, memberships/designations, identify

management team, resumes for key personnel– Identify property to be auctioned – property description, identify positive and negative features

that may affect value, photographs, location maps– Define the auction – advantages of auctions, method of sale, type of auction– Marketing plan overview – identify target market, components of marketing plan, budget,

timeline– Define logistics of a successful auction – auction date, site, staffing, inspection period,

registration & bidding requirements/procedures, terms of sale, closing, etc.– Compensation & fees – marketing fees, commission/buyer’s premiums, broker participation

fees, etc.– Recommendations – summarize why the property is an auction candidate and why the client

should hire you– Supporting materials – references, proposed contract, sample brochures, – Information specific to the property – photos, deeds, plats, tax maps, area maps, etc.

How Can I Utilize Local Marketing Opportunities?

• Conventions & Tradeshows• Parades, Fairs, Festivals & Local Events• Become a Member of Your Community

– Ducks Unlimited, FFA, Rocky Mountain Elk Foundation, State Auctioneer Associations, State Real Estate & Education Commissions, Chamber of Commerce, Lodges, Clubs, Local Government

• Volunteer Your Time – Churches, Libraries, Hospitals, Museums, Philanthropic Endeavors, Educational

& Civic Programs, Shelters & Food Pantries, go to volunteermatch.org to find local opportunities

• Talk to Everyone Everywhere You Go! – In restaurants; while travelling, shopping & volunteering; EVERYWHERE.

• Get to know your community & make yourself known – you never know who your next client will be.

Where Can I Find Resources?

Q&A