Facts You Should Know
Are you familiar with the
Sealed Bid Auction Method
of Real Estate Marketing?
What is it really? How does it work?
What is the benefit? Am I obligated with the result?
How long does it take to get results?
What’s the cost? How successful is it?
Answers: The Sealed Bid Auction Method of Real Estate Marketing consists of a blend of a conventional listing with access to the entire MLS system and an auction. It requires a minimum of two formal “open for inspection” times during which due diligence bid packets are handed out. Potential buyers may or may not tender an offer during this process. With this process completed, a formal bid opening occurs approximately 1 week later (the property usually sells prior to this stage). The top 3 bids will be able to perform in the auction. Once this final bid is realized and completed Seller has 1 bid if he so elects to entertain to use it.
Seller may elect to accept, counter or alter the offer. Buyer will accompany written offer with a non-refundable, pre-determined cashier’s check as earnest money applied to purchase price. If seller cannot close because of misrepresentation to buyer, buyer may rescind offer. Buyer and seller pay no fees to broker if results are not achieved in selling property. Commission is very competitive with market.
It’s an intense 6 week marketing program. Not For All Sellers. It packs a wallop quietly but successfully. In 2015 we sold $2,816,000 of real estate by this method state wide. None reached the 3rd stage of the marketing program.
We’ll Sell Real Estate
Conventional or Sealed Bid Auction
Licensed Auctioneer & Real Estate Broker 30+ years