COFFEE CAKE AND REAL ESTATE
LUXURY LIVE AUCTIONS
I founded Luxury Home Auctions in California in 2006, Auctioned Millions of dollars worth of homes for prices that most agents or sellers could only dream of. (in fact was so successful that local agents asked me to auction their own homes) The auction process LIVE EVENTS create real excitement on site and where you the bidder and seller can actually see who is bidding and for how much. It’s a process that Australian’s use almost exclusively to drive the value of the property higher than MOST TRADITIONAL METHODS HERE IN THE USA.
It’s a simple process we market the home over a period of typically 30 days we hold open houses weekly until the auction day, we gather bidder’s who are required to show proof of funds and put down a refundable deposit of a determined amount based on the estimated value of the home.
All sales are cash and due to close within 30 day’s or sooner, or as pre-determined by SELLER.
The seller and I determine a realistic price that the seller will least take for the sale on the day and undisclosed realistic reserve. You have the right at auction to lower your expectation at any time.
1. No reserve is best and a guaranteed sale on day with a lot of excitement. Typically agents and sellers meet to determine how much their home should sell for and then add a little so they can discount the price to make a sale and after 60 days they start dropping the price until they ultimately sell or bank takes it or worse die waiting.
With a live auction you know once we start that in 30 days you will have real cash offers sometimes prior to auction and in 60 days or as determined by seller be paid and move onto new future.
AUCTION MY HOME NOW
2. How Much Does it Cost?
For the seller zero!
For Homes under $100,000 we charge 10% buyer’s premium ( paid by the buyer)we pay the introducing agent 4% commission for introducing a buyer and we do all the work.
For homes over $100,000 to $1,000,000 we charge the buyer’s premium to only 9% – we pay agents who introduce a buyer 4% For sellers over $1,000,000 to $10,000,000 we charge the buyer’s premium ( paid by the buyer)only 8% we pay agents who introduce a buyer 4% commission.
This encourages agents to participate in the process bring buyer’s and get paid quick. Greed is good sometimes… the buyer’s premium covers all cost the final sale price at auction is what the seller gets.
How many times have you seen a home sell in days or same day as it was listed? Did you ever wonder if the seller left money on the table and how much..
How many times have you seen a home for sale with multiple agents for years?
With the Live Auction process you can sell at any time at any price it’s up to you often a buyer will want the home so bad they will pay a premium just to avoid getting caught up in a bidding
Of course there is NO guarantee of a sale only that we will drive many potential buyer’s to the home and we have always had real cash offers.
3. Live Auction Events are just that when we collect several homes up to 10/20 to be sold all on one day at the pre determined times usually in and auditorium. Where we collect many potential buyer’s to participate in the event.
But there is nothing like being in the home and having the buyers feel it touch it and WANT IT.
We can do as many as 6 Live Auctions a day .We tell the world about the event and time and what is for offer and why.
Remember we don’t get paid unless you get paid it’s that simple and like you we want to have a sale quick not in 6 months or in some cases 4 years that’s just crazy.
4. What about the other companies doing Auctions?
Many Companies out there do Auctions mostly on the internet where you are bidding against a computer you never know if it’s real or not. These companies in my opinion are created to sell homes at a lesser value and in bulk, with no control of the buyer’s emotions it’s easy to turn the internet off and walk away much harder when you have made the effort to go to the auction.
5. GO LIVE AND SEE!
You have nothing to lose except the opportunity to GAIN.
6. Is the Auction result Final?
Yes all auctions are cash and at the fall of the hammer the buyer is contracted to buy and the deposit necessary under the terms of the auction is NON REFUNDABLE typically 10%.
We have various lenders who will accept the final auction bid as the value and will pre qualify buyers to bid up to certain amounts.
7. Are there any other fees due by me if i auction my home?
No. Just normal fees associated with paying off your loans, title fees outstanding taxes.
8. What happens if it does not sell?
It’s rare but if the home has not sold at the auction we have certainly told the world about it and we have also educated buyers and sellers as to the value today. Our contract to sell calls for us to have a 180 day exclusive agency to work all the leads and buyers to effect a sale. Again we don’t get paid unless you do. And we don’t like working this hard for FREE.
9. My current or last agent does not understand it!
Correct and that’s why you are talking to us because your last agent has not been able to effect a result or has grossly misread the market and told you simple to drop the price until it sells. After months and sometimes years of trying to sell. We are in the business of selling homes NOT listing them. You decide if you want to sell or list have hundreds of agent’s people walk through your home looking at your personal things most not qualified to buy just LOOKY LOOS.
The hardest thing for agents and sellers is finding a price people will pay and a lot of people go fish. That’s ok if that’s what you want to FISH WITH BAD BAIT? So please go see the fisherman agents and let us find the sellers who want the correct bait.
I’m an agent and have a client who wants to sell their home and auction maybe the best answer?
Great we encourage the agents to introduce sellers and buyers. Introduce a seller and when the sale is over we pay you an introduction fee of 2%. We pay the cost to market. You just sit back and wait. Your name becomes associated with the sale and is credited as such.
Better still.. JOIN COFFEE CAKE AND REAL ESTATE and keep a lot more of your commissions for you. The benefits keep coming.
MOST TRADITIONAL METHODS USED HERE TODAY ONLY GIVE YOU ONE OPPORTUNITY. THAT IS TO SELL FOR SOMETHING LESS THAN YOUR BEST EXPECTATIONS! THERE IS A BETTER WAY.