AUCTION

Formats: Auction, Sealed Bids, Accelerated Listings

Open OutCry Auction:

This is by far the most traditional and recognized method of the auction process. The seller defines the terms. Presale marketing and due diligence are conducted beforehand and the auction event takes place during a predetermined date, time and location. Bidders are prequalified with certified funds to bid and the event is open and conducted live in a competitive environment. Live OnlineInternet Bidding is often a value added component.

Sealed Bid:

While this is similar to the Open OutCry Auction, offers are submitted in a Sealed Bid format to a certain location on a predetermined day, date and time. Offers are then opened in a closeddoor environment and reviewed by the seller and our team as to the price and conformity with the terms of the offering predefined by the seller. This format insures more control over the transaction and is usually best suited for hard to value assets. In this case, the seller has the flexibility to request "best and final" offers from qualified buyers in the competitive range of pricing.

Sealed Bid + Auction:

In this hybrid method of Open OutCry and Sealed Bid, terms are established that allow for the sealedbid process to precede the Open OutCry event with up to the five highest bidders invited to participate in the Open OutCry auction. The highest sealed bid offer received determines the minimum opening bid for the Open OutCry auction. This format provides control and flexibility over the transaction and forces interested prospects to make a strong initial offer in order to be eligible to participate in the second phase.

Accelerated Listing:

In this method, assets are aggressively priced and exposed to the market for a limited period of time. If necessary, this phase is followed by an accelerated marketing program customized for the asset.

Online Auction:

Assets are marketed using a customized accelerated marketing program however all bidding takes place on the internet for the convenience of all bidders.

Properties that make great accelerated marketing Candidates:

•    Properties on market 90 days +
•    High Motivation sellers
•    Properties with stabilization issues
•    Poor property management
•    vacancy issues
•    weak credit tenants
•    difficult locations
•    functional obsolescence
•    financially challenged sellers
•    unique properties
•    uncompleted projects
•    Multi family w/condo conversion maps, or in process
•    unfinished projects that need bridge financing
•    portfolios
•    reo blocs

Benefits of Accelerated Marketing:

Benefit to Agents:

paid full commission
property sold “as is”
no retrades at closing table
non contingent sale
90 day sales process (from start marketing to close)
prearranged financing

Benefit to Sellers:

see Agent benefits
streamlined sales process
Stay ahead of market
Generate interest/activity/prospects
Attracts real buyers/separate tire kickers
streamline sales process
buyer pays sales commissions (less expensive for seller)