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Accelerated Auction Marketing For Builders and Developers
Designed specifically to sell large inventories in a short period of time, this program offers the following benefits:
- Create a sense of urgency in a marketplace where there had been none
- Sell under seller’s terms- "as is"
- Sell according to Seller's timetable- closing typically 45 days following auction
- Sell large inventories in one day to individual homebuyers at or close to retail values- (50 to 100 units in one day)
- Eliminates long term carrying costs and future market uncertainties
- Allows Seller to be pro-active in better predicting future business plans!
Case Study:
The Point at Moore's Inlet
26 Beach Front Condos North Wildwood, NJ
26 Beach Front Condos North Wildwood, NJ
Challenge
Auction Co. was chosen hands down. To Beazer Homes the stakes were high: Wall Street perception of a publicly traded builder utilizing auction marketing, assurances of success in one of their largest projects. The results, overwhelmingly positive!
Solution
Through a carefully choreographed four week marketing period over 10,000 people toured Beazer’s project, The Pointe at Moore’s Inlet in N. Wildwood, NJ. The streets surrounding the condominium were teeming with people and local restaurants and shops said sales spiked up on open house days. Area Realtors noted that while sales had been slow in the area at large, they positively shut down during the auction marketing period as all buyers were focused on the auction.
Results
The auction itself was held at the Borgata Casino in Atlantic City. Over 1,000 persons crowded into the hotel ballroom all focused on purchasing a vacation home. Bidding set out aggressively and one hour later al 26 units were sold; over 12.5 million dollars of transactions had occurred in just one afternoon.
From the momentum created by this massive auction program, Max Spann was able to sell out the remaining 14 units not included in the auction within the next few weeks making the total sales amount over $22 million for its client. The dynamics of auction marketing are a proven way to restore confidence to the marketplace in times of uncertainty. It is also a means for sellers to take control of their properties and act proactively in facing the challenges of the market.
From the momentum created by this massive auction program, Max Spann was able to sell out the remaining 14 units not included in the auction within the next few weeks making the total sales amount over $22 million for its client. The dynamics of auction marketing are a proven way to restore confidence to the marketplace in times of uncertainty. It is also a means for sellers to take control of their properties and act proactively in facing the challenges of the market.