A Statement On Ukraine from Kevin Maggiacomo, SVN President and CEO

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Top Reasons to Sell a Property Using the Auction Method

Why the Auction Method is Something to Consider

If you’re interested in selling a property “as is, where is,” the auction method is typically the way to go. Instead of marketing a property with a set listing price in a negotiated sale, some sellers opt for the time-sensitive format for a variety of reasons.

Auction sales can work in the seller’s favor by giving him or her more control over the process. After all, the seller gets to set the terms and conditions of an auction sale. Selling a property at a true market value is arguably most feasible using the auction method, and a property can sometimes end up selling at a higher price in an auction than in a negotiated sale. Three of the biggest auction format upsides have to do with timing, exposure, and financing.

Top 3 Reasons to Try the Auction Format Instead of a Negotiated Sale

  1. The auction method speeds up the process. Because an auction is a time-sensitive sale with a set date, this format creates a sense of urgency among potential buyers. Compared to negotiated sales, auctions stimulate a need for informed buyers to act fast, encouraging competition. It may be assuring to the seller, who knows exactly when the property will sell. In negotiated sales, the seller has no idea when the sale date will arrive – it could be any number of weeks or months after the property is listed. The accelerated timeframe in the auction method means the seller enjoys a 30-45 day unconditional all cash closing. To top it off, all due diligence, inspections, and testing is performed prior to the sale.
  2. The auction method increases exposure. Using the auction format ensures an aggressive marketing program, which is accelerated due to the limited timeline leading up to an auction. This accelerated marketing strategy can leverage the seller’s advertising investment 10-20 times in a multi-property event. Since auctions involve a large number of pre-qualified prospects, this aggressive exposure in an auction marketing campaign means the property is advertised to people who are truly serious potential buyers.
  3. The auction method cuts costs and may increase value. The speedy process involved in the auction method reduces carrying costs, which include taxes and maintenance. Auctions also require potential buyers to pre-qualify for financing, meaning the sell-side agent does not have to waste time (and money) dealing with those who are not “true” potential buyers. Compared to negotiated sales where the asking price is essentially the highest amount the seller will be able to get for the property, the sky’s the limit for properties sold through the auction method.

Over all, auctions are worth considering, especially if the seller wants an accelerated timeframe, increased exposure to qualified prospects, and certain financial upsides that the auction method can provide.


SVN Auction Services is a provider of date-specific sales and special asset solutions. It encompasses an elite group of local and regional auction Advisors throughout the United States who specialize in areas such as foreclosures, tax sales, multi-properties, receiverships and bankruptcies. SVN Auction Services offers the industry’s most comprehensive spectrum of auction solutions—from rapid asset resolution and 30-day countdown asset sales to wide area and high impact/high promotion events. As part of one of the most recognized and reputable commercial real estate firms in the industry, SVN Auction Services is supported by SVN International, which features more than 190 locations serving more than 500 markets. For more information, visit SVN Auction Services.

This blog post was adapted from the SVN | Menish Auctions website

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SVN Auction Services Launches Highly Anticipated Q4 National Online Auction

Bidding runs until November 12 with all asset types represented;

Event features one of the industry’s lowest buyer’s premium

 

SVN Auction Services, a provider of date-specific sales and special asset solutions, has launched its popular and highly anticipated SVN Q4 National Auction.  Bidding started on October 15 at 7 p.m. ET and culminates on November 12 at 7 p.m. ET.  All commercial real estate asset types are represented for this online auction event that features one of the industry’s lowest buyer’s premium of 5 percent.

The SVN Q4 National Auction addresses the needs of sellers with properties that have to be sold and closed by year-end. SVN Auction Services’ past SVN Q4 events have attracted thousands of buyers and sellers representing every state in the nation and more than 80 countries.

“This is an outstanding online auction opportunity and really epitomizes the talent, expertise and leadership of our nationwide Auction Services team,” said Kevin Maggiacomo, Sperry Van Ness International Corporation President and CEO. “Of the top commercial real estate brands, Sperry Van Ness is unique in its commitment to establish such a comprehensive Auction Services vertical. As a result, the Auction team—and the assets it represents—receives the marketing punch and visibility that only a national firm can deliver, combined with the specific strategic insight and support that only a local SVN Advisor can provide. It’s a win for everyone involved.”

This year’s SVN Q4 event includes a wide variety of quality office, industrial, retail, land, hotels, multifamily, and NNN properties, including a historic hotel in Hot Springs, Arkansas, a fruit packing facility in Orange Cove, California, a former FedEx headquarters campus in Memphis, Tennessee, and a church and school in Oklahoma City, Oklahoma.  Assets feature a $500,000 minimum value, up to a value range of $14,000,000.

“We not only aggressively promote the SVN Q4 National Auction on a national and international level, but also on a local level where the assets are located,” explained Louis B. Fisher III, SVN Auction Services Co-Chairman of the event. “Combine this with the co-broker fees that are paid and the extremely low buyer’s premium and you see a clear picture of SVN’s ethos of commitment and collaboration. It’s who we are.”

The SVN Q4 National Auction will feature SVN’s leading-edge, propriety SVN-BID 2 WIN platform. It’s a user-friendly, secure online bidding platform that provides a set of robust features allowing users to easily search by location, value and product type.

All properties are presented in an honest, ethical, straightforward manner meant to attract only qualified, serious bidders. Financing is available for qualified assets.

This year’s SVN Q4 National Auction sponsors include Chandan Economics, a leading provider of data and analytics to commercial real estate lenders, investors, and policymakers, EBI Consulting, one of the nation’s largest, universally recognized and approved providers of environmental and engineering due diligence services to the commercial real estate investment and finance industries, Sabal Financial Group, L.P., a diversified financial services firm specializing in real estate, banking and lending, and Stewart Title, a leading provider of real estate services that facilitate successful real estate transactions.

About Sperry Van Ness Auction Services

SVN Auction Services is a provider of date-specific sales and special asset solutions. It encompasses an elite group of local and regional auction advisors throughout the United States who specialize in areas such as foreclosures, tax sales, multi-properties and bankruptcies. SVN Auction Services offers the industry’s most comprehensive spectrum of auction solutions—from rapid asset resolution and 30-day countdown asset sales to wide area and high impact/high promotion events. As part of one of the most recognized and reputable commercial real estate firms in the industry, SVN Auction Services is supported by SVN International’s more than 800 commercial real estate advisors throughout the nation. This relationship provides outstanding opportunities for SVN Auction Services to serve clients needing to move assets in accelerated timeframes and creates significant value for buyers and sellers.  For more information, visit SVN Auction Services.