Leverage Competition to Maximize Results

March 6, 2018

Leverage Competition to Maximize Results

You have a unique home that has served your family well over the years, but now it’s time to move on. Where do you begin?

The answer is clear - auction.

“We really didn’t know what our property was worth,” Mr. and Mrs. Perrine, sellers of their personal residence at absolute auction said. “There wasn’t anything comparable on the market for what we had. We talked and decided to do it by auction. Let the people tell us what its worth.”

Auction is oftentimes the most effective, transparent and profitable way to sell real estate. Highly sought after homes result in multiple buyers openly competing and produces the highest possible sales price.

“At McCurdy Auction, we believe that an auction provides for true price discovery of your home,” Braden McCurdy, CEO and auctioneer of McCurdy Auction said. “Our REALTOR® CO-OP program also offers a way for us to offer the benefits of the auction process to agents representing clients.”

“Auctions create a sense of finality and encourage bidders to bring their best offer the day of the auction, eliminating closed-door negotiations,” McCurdy continues.

Real Life Auction Success Story…

For example, McCurdy Auction’s Premier Auction Division recently successfully sold an estate on 12 acres in Kechi, Kansas, at auction. The property featured a sprawling three-bedroom ranch home, three-acre pond, pool, shop, barn and detached guest quarters.

Through a strategic, custom marketing campaign - designed to achieve maximum exposure - McCurdy Auction produced 74 qualified bidders auction day.

“After our initial consultation with the sellers, our team recognized that, given the features of the property, the desirable location and the fact that the property hadn’t changed hands in nearly 30 years, determining a value would be almost impossible,” Megan McCurdy Niedens, COO and auctioneer of McCurdy Auction said. “The county value of $310,000 simply didn’t reflect all the features that made this property unique. The only way to ensure the best results for the seller was to create an atmosphere where interested buyers were forced to compete.”

In other words, let the competitive bidding process determine the true market value.

After an electrifying bidding process, the home sold for $990,000.

“It was fantastic,” Steven and Carla Zielke, sellers of the Kechi estate said. “It was truly amazing. There were people everywhere. It was a big crowd. I told Megan [McCurdy Niedens] it almost seemed like a party atmosphere, but everyone there was interested. It was awesome that [they] reached that many people.”

Auctions allow you to set the date, time and how your property will sell.

“Auctions are a great alternative for many sellers simply because it puts them in control of the sale,” McCurdy said. “Sellers are able to choose the date of the sale, the minimum price their property will sell for and it exposes the property to a large number of buyers. The bottom line is you are making the buyers compete for your property - not waiting around hoping for a good offer.”

At McCurdy Auction, they offer two different types of real estate auctions: No Reserve or Reserve.

According to the National Association of REALTORS®, an Absolute auction means that the property or home will sell to the highest bidder, regardless of price. A Reserve, or subject to seller confirmation, means that the seller reserves the right to accept or reject the final bid.

“I wanted to really sell the property,” Kathy Warren, a recent seller with McCurdy Auction said. I know the reputation of McCurdy Auction. The marketing value they bring is incredible. The targeted marketing makes all the difference in the world, especially on a specialty property. McCurdy did a great job in targeting that audience and I feel like they got the maximum amount of money that was possible.”

McCurdy Auction’s selling process has been developed over 35 years to maximize results for each property, regardless of size or type. Properties are strategically marketed 30-60 days prior to auction and have a closing on-or-before 30 days from auction day with no contingencies.

“It was an exciting 30 days,” Zeilke said. “The McCurdy’s had everything all set up and ready to go, plus each week we had something else that was going to be done [to market our property]. It seemed like everything was straightforward and went smoothly. We were excited that it went as well as it did.”

McCurdy Auction already has an impressive fall line-up, but there’s still time to get your property sold before the snow is on the ground.

“Why not?” Zeilke said. “Auction seemed exactly like the right thing to do with our property. It was rather unique. We had some special features that were there and the McCurdy’s did a great job of helping us sell the property.”