Q: Why sell property at auction?
A: Auctions are the proven means of delivering superior results and maximum returns in the shortest possible time. Unlike conventional real estate brokerage that sets a price ceiling, an auction establishes a pricing floor and provides a momentum-building, accelerated, and time-limited means to a successful sale.
Q: What are the benefits of an auction?
A: The auction demonstrates to serious buyers that ownership is ready, willing, able and committed to sell the properties now at a market price. An auction also creates a deadline where one currently does not exist, yielding a higher selling price and thus minimizing holding costs and maximizing returns in a shortened time frame
As a result, the seller is in complete control of the process.
Q: What is the primary reason to hold a Sheldon Good & Company auction?
A: As the nation’s leading provider of strategic momentum-building marketing and structured accelerated sales solutions, Sheldon Good & Company has a 40-year track record of proven results, has sold billions of dollars worth of properties in every real estate asset class, and has the highest closing ratio in the industry.
Q: What is the advantage of working with Sheldon Good & Company?
A: Sheldon Good & Company brings a superior level of experience, expertise, and creativity in analyzing the real estate and creating the proper deal structure to maximize return. We utilize a sophisticated array of alternative sales strategies that include open-outcry auction programs, sealed bid offerings, private sale campaigns, phased auction plans and structured loan sales throughout North America.
Q: When is a good time to sell at auction?
A: Auctions succeed in at all phases in the economic cycle. Auctions create true price discovery – during uncertain times when transactions are few and far between - and even more so when the market is headed up and sellers want to capture the highest possible price.
Q: What types of property sell at auction?
A: An auction is time-tested method of selling all types of properties, such as land, single-family homes, rental apartments, condominiums, office buildings, hotels, shopping centers, and industrial buildings. Whether a seller needs to recapitalize a productive asset, convert non income-producing assets into cash, resolve a management or partnership issue, or simply accelerate the receipt of sales proceeds, auctions deliver the highest returns in the shortest timeframe.
Q: How will the property benefit from the auction process?
A: An auction creates an immediate response from buyers and creates a deadline for decision-making.
Q: What will result from an auction announcement?
A: An auction freezes the sales of any competition in the marketplace and focuses the attention of all potential buyers on the property being offered for sale. Furthermore, establishing a certain date-of-sale provides a necessary call-to-action and seizes an essential competitive advantage.
Q: Are there any contingencies in an auction sale?
A: No, the property is sold “as-is” on a non-contingent basis. Sheldon Good & Company’s experienced staff assembles the property information and provides all of the due diligence materials to the buyers, thus minimizing uncertainty, increasing the number of bidders, and maximizing the high bid price.
Q: As a seller, do I still maintain control over the property or asset?
A: Yes, the seller has total control. A Sheldon Good & Company auction provides the owner with complete control of the marketing, deal-making and disposition process while providing all the tools to insure the best sales result.
Q: How do you predict pricing?
A: Sheldon Good & Company utilizes a proprietary Auction Pricing Model, rigorous economic analysis and real estate comparable data to evaluate and predict auction results. With less than a 10 percent variance from predicted pricing, the firm closes 98 percent of properties placed on the auction block.
Q: What happens to the price of my asset(s) during the auction process?
A: The price is driven by current market conditions and through the excitement of competitive bidding.
Q: Do both the buyer and seller benefit?
A: Yes, the asset is sold at the true market price and the seller obtains the maximum returns possible for that asset within the current market condition.
Q: Is there anything hidden in the auction process that sellers or buyers will not know about?
A: The auction offers the most transparent form of real estate transaction currently possible. The decision-making process is open and clear for all to see. Buyer’s get the best price and seller’s obtain the maximum returns. This is the future of the real estate industry.