beachfront realty december 2009
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Auction Marketing Presentation
for Beachfront RealtyDecember,2009
byRichard Moravek and Ray TrecoJ P. King Auction Marketing Firm
Auction Marketing Presentation
for Beachfront RealtyDecember,2009
byRichard Moravek and Ray TrecoJ P. King Auction Marketing Firm
Growing PopularityGrowing
Popularity
What’s in it for my Client?
-- Selling Quickly-- No
Contingencies --Market Value $
What’s in it for my Client?
-- Selling Quickly-- No
Contingencies --Market Value $
Advantages of an Auction
• Focuses the entire buying market on your property!
• Ultimate “call to action”
• Sell potentially seven to nine years of inventory (based on current sales rate) through one event
• Realizes full up-side value established by highly competitive bidding techniques
What’s in it for me?
--Easy way to help the Seller get sold
and earn commissions
--paid FIRST at Closing
--Able to still represent buyers
What’s in it for me?
--Easy way to help the Seller get sold
and earn commissions
--paid FIRST at Closing
--Able to still represent buyers
TIME
55-75 days( depending on ___)
With client agreements by
February 1, 2010, we will have a
early March auction,with closing in 30 days
or less.
TIME55-75 days( depending
on ___)
With client agreements by
February 1, 2010, we will have a
early March auction,with closing in 30 days
or less.
What drives a successful auction?
The type of auction must be consistent with the buyers’ perception of their being able to purchase the property at their own price
Increasing the number of motivated bidders
Bidders aggressively pursuing the opportunity to purchase your property at their own price
The Key to a Engaging the Buyers
Selling on an Absolute basis (to the highest bidders without a minimum bid or reserve)
•Results in an overall increase in overall response (both inquiries & property tours) from Prospective Buyers
•The total attendance of bidders is increased
•Resulting in Higher prices for the property
Hybrid Auction condusive to the implementation of:The High Bidder’s Choice Method:The most effective bidding method to
maximize price
All bidders are forced to compete to win
Forces all bidders to compete against each other in each and every round of bidding It significantly stimulates competition and establishes higher prices
Real Estate
Track Record
Real Estate
Track Record
Habersham MillsHabersham MillsHabersham County, GeorgiaHabersham County, Georgia
$6.7 Million
$6.7 Million
“It was a remarkable turnout, and we’re very happy with the results.”
– Nancy Young, Russell Corporation
“It was a remarkable turnout, and we’re very happy with the results.”
– Nancy Young, Russell Corporation
25.48 acre manufacturing facility including office buildings and warehouse. Additional 1200 acres of adjoining land.
25.48 acre manufacturing facility including office buildings and warehouse. Additional 1200 acres of adjoining land.
Registered Bidders 231
Inquiry Calls 920
Watersedge at
Harbortown
94 Property Tours representing buyers from 8
states
208 call-ins from 21 states
94 Property Tours representing buyers from 8
states
208 call-ins from 21 states
68 Registered Bidders
from 7 states
Grande River VineyardsGrande River VineyardsGrand Junction, ColoradoGrand Junction, Colorado $ 2.8
Million$ 2.8
MillionRegistered Bidders 21Web Inquiries 3700
Registered Bidders 21Web Inquiries 3700
Hwy 101 OpportunityHwy 101 OpportunityAlamosa, CaliforniaAlamosa, California $1.5
Million$1.5
Million8 unit hotel/motel on 5±
acres
Property Tours 53
Inquiry Calls 152
Kentucky Lake Motor SpeedwayKentucky Lake Motor Speedway $1.6
Million$1.6
MillionInquiry Calls 77
Website Visits 1773
Mountain Brook OrchardsMountain Brook OrchardsSt Thomas, PennsylvaniaSt Thomas, Pennsylvania $2.4
Million$2.4
MillionRegistered Bidders 31
Inquiry Calls 201
Palm Aire Spa Resort Palm Aire Spa Resort Pompano Beach, FloridaPompano Beach, Florida
$10.9 Million
$10.9 Million
World renowned Resort with an executive 27
hole Golf Course
World renowned Resort with an executive 27
hole Golf Course
Kiawah Island Ocean CourseKiawah Island Ocean CourseKiawah Island, South CarolinaKiawah Island, South Carolina $27
Million$27
MillionHome of the 1991
Ryder Cup
Home of the 1991
Ryder Cup
Appraised for $21 million …
Sold and closed by J.P. King for 129% of appraisal
value!
Appraised for $21 million …
Sold and closed by J.P. King for 129% of appraisal
value!
South Loop WestHouston, Texas $1.6
Million“The professionalism with which the auction was handled and the caliber of people who were involved truly reflected the expertise of your firm.” - Dennis Lutz, Vice President, Source One Mortgage Co.
$855,948.50
$855,948.50
Talladega Development LandTalladega, Alabama
Registered Bidders 18
Jones EstatesJones Estates
Selma, AlabamaSelma, Alabama
$1.8 Million
$1.8 Million
Registered Bidders 56
Web Inquiries 3059
Registered Bidders 56
Web Inquiries 3059
$2.75 Million
$2.75 Million
Plum Creek DevelopmentRapid City, South Dakota
Pomona Freeway OpportunityPomona Freeway OpportunityLos Angeles, CaliforniaLos Angeles, California
$2.7 Million
$2.7 Million
“We were very happy with the outcome. I was especially pleased with the operations of J.P. King - not only in managing the auction but in promoting the property.”
– Syndey BartonSouth El Monte Associates LP
“We were very happy with the outcome. I was especially pleased with the operations of J.P. King - not only in managing the auction but in promoting the property.”
– Syndey BartonSouth El Monte Associates LP
Registered Bidders 14
Inquiry Calls 176
Wachovia BankCorporate Asset Division
Bank branches from SouthTrust
mergerOver $40,000,000
Gulf County Land OpportunityGulf County, Florida $5.5
million$5.5
millionRegistered Bidders 26States Responding 12
El Paso WarehouseEl Paso WarehouseAnthony, TexasAnthony, Texas $2.5
MillionStates Responding 16
Registered Bidders 9
Vermont National BankVermont National BankVermont and New HampshireVermont and New Hampshire
$5.9 Million
$5.9 Million80 Commercial,
Investor & Residential Properties
590 Registered Bidders from 11
states, Canada and Switzerland
Sportsman Golf ResortSportsman Golf ResortPerdido, FloridaPerdido, Florida $2.4
Million$2.4
MillionProperty Information 126
Web Site Visits 2,516
Alabama, North Carolina, Georgia and Florida
Russell Corporation
“It was a remarkable turnout, and we’re very happy with the results ”
– Nancy Young, Russell Corporation
“The property was sensitive to the adjacent land owners that did not want to see the property developed or environmentally impacted.”
“The end result was a successful auction, and all sales closed within 30 days with no strings attached.”
– Paul Porter, Russell Corporation$6,800,000$6,800,000
$3,000,000$3,000,000
Westport PropertiesMontgomery, Alabama
Online PIP Views 155
Registered Bidders 23
$2.8 million
Farmers & Merchants Farmers & Merchants Gulf Shores, AlabamaGulf Shores, Alabama
Over 50 Commercial &
Residential properties and
1000 acres
Over 50 Commercial &
Residential properties and
1000 acres
Bank Liquidation Sale
Bank Liquidation Sale
Dadeville, AlabamaDadeville, Alabama
StillWaters DevelopmentStillWaters Development $15.6
Million$15.6
Million
Sold for $3 million over asking price
Visits to Web Page 11,108
Registered Bidders 280
FloridaFleet Finance
$5.7 Million
$5.7 MillionOver 100 Commercial and
Residential properties
throughout Florida
Over 100 Commercial and
Residential properties
throughout Florida
First Union BankGeorgia
Over 40 Commercial &
Residential Properties
$4.2 Million
$4.2 Million
Singer Island CondominiumPalm Beach, FL $5 MillionRegistered Bidders
9 Web Inquiries 6294
South Star Fuel CenterSouth Star Fuel CenterBirmingham, AlabamaBirmingham, Alabama
$1.8 Million
$1.8 Million
Registered Bidders 13
Web Site Visits 893
Calumet Farm
Lexington, Kentucky $19.9 Million
Ocala, FloridaOcala, Florida
Silverleaf FarmSilverleaf Farm$5 Million
“Your expertise in advertising & production of a magnificent brochure certainly helped to generate interest surrounding our auction,”
- David W. Hutson, seller
“Your expertise in advertising & production of a magnificent brochure certainly helped to generate interest surrounding our auction,”
- David W. Hutson, seller
Registered Bidders 22Inquiries 316
AlDabbagh RanchMurrieta, CAMurrieta, CA $7.7
Million$7.7
Million
“J. P. King’s long track record was a major factor in my decision, which turned out to be the right one. I am very pleased to recommend J. P. King to other sellers.”
~ Sam AlDabbagh, Seller
Registered Bidders 9Property Tours 38
Prior to Preparing a Marketing Campaign
Research the Market and Available Media
Study Demographics of Previous Buyers
Study the Buyer Profile of Previous Buyers
Target a Strong Campaign to Known Commodities
Take the information and prepare a well-thought campaign to accomplish your goals
Prior to Preparing a Marketing Campaign
Research the Market and Available Media
Study Demographics of Previous Buyers
Study the Buyer Profile of Previous Buyers
Target a Strong Campaign to Known Commodities
Take the information and prepare a well-thought campaign to accomplish your goals
Success from Market KnowledgeSuccess from Market Knowledge
How the Auction Works
• Multifaceted Marketing Campaign
• Targeting End Users
• Highly Competitive Bidding Event
• Most Result-Oriented Sales Program
“The auction process accomplished our goals for us. We were able to maximize on the time value of money now…We wouldn’t hesitate to use a J P King auction again.” - Daniel O’Donnell
The philosophy behind asuccessful marketing program
The philosophy behind asuccessful marketing program
Exposure
Concentrated Magazine & Newspaper Advertising
Direct Mail Campaign
Internet Promotion
Outbound Telemarketing Plan
Web Media Placement & Public Relations
Signage, Billboard & Banners
Concentrated Magazine & Newspaper Advertising
Direct Mail Campaign
Internet Promotion
Outbound Telemarketing Plan
Web Media Placement & Public Relations
Signage, Billboard & Banners
ExposureExposure
A specific, varied, Commercial Media Campaign – targeted to end users
Newspapers such as the:
Wall Street Journal Florida Papers
Business Journals
A specific, varied, Commercial Media Campaign – targeted to end users
Newspapers such as the:
Wall Street Journal Florida Papers
Business Journals
ExposureExposure
ExposureExposure Trade & Business PublicationsTrade & Business Publications
Auction Brochures
10,000-15,000 High Quality,
4 -6 panel, color brochures
will be designed highlighting the opportunity and the ownership benefits
Exposure
An extensive direct mail campaign of brochures shall be sent to targeted buyer profiles:
• TBD•Area Brokers and Realtors• YOUR former Prospects•Select buyers from J P King’s database
Direct Mail CampaignExposure
ExposureExposure
Internet PromotionInternet Promotion
30,000- 40,000 unique visitors per month Links, ads, and banners on targeted sites Paid Search- Aggressive Google ad word campaign Organic Search- Highly optimized to consistently
rank in the top 4 results for the most popular property word searches
Email contact campaign including: enewsletter to 100,000 opt-in users from southcarolinagolf.com, eflyer blast to all area real estate professionals, enewsletter to condo.com subscribers
30,000- 40,000 unique visitors per month Links, ads, and banners on targeted sites Paid Search- Aggressive Google ad word campaign Organic Search- Highly optimized to consistently
rank in the top 4 results for the most popular property word searches
Email contact campaign including: enewsletter to 100,000 opt-in users from southcarolinagolf.com, eflyer blast to all area real estate professionals, enewsletter to condo.com subscribers
ExposureExposure
Internet PromotionInternet Promotion
realestatejournal.com – tile adLoopnet –featured adwashingtonpost.comviviun.comjpking.com
Etc, Etc, Etc……………………….
realestatejournal.com – tile adLoopnet –featured adwashingtonpost.comviviun.comjpking.com
Etc, Etc, Etc……………………….
Internet Campaign Including Following Sites
On Line BiddingBidders may participate in the auctionremotely from anywhere in the world
Engages area visitors unable to attend
Bidders compete live – real time
Attracts distant bidders not-inclined to attend
Outbound Telemarketing
CampaignAn aggressive outbound campaign to targeted buyers, including your prospect list, area real estate brokers and select portions of J P King’s prospect list
Exposure
ExposureExposure Web Media Placement & Public
RelationsWeb Media Placement & Public Relations News releases generate coverage in local, regional and
national traditional and electronic media to promote the auction, as well as positioning the auction
Auctions are frequently covered by such media as PR News Wire, NPR, CNBC, WSJ, New York Times, Forbes, Crain’s, Chicago Tribune and Bloombergs
News releases generate coverage in local, regional and national traditional and electronic media to promote the auction, as well as positioning the auction
Auctions are frequently covered by such media as PR News Wire, NPR, CNBC, WSJ, New York Times, Forbes, Crain’s, Chicago Tribune and Bloombergs
ExposureExposure Professional Photography &
Virtual TourProfessional Photography & Virtual Tour
To Showcase the property in the very best light, professional photographs will be taken & utilized in all media
Additionally, Virtual Tours will be available on-line to present the property to individuals who may be interested in purchasing long distance and will be an effective reminder to those who have previewed the property prior to the auction but are unable to attend on auction day and will participate remotely
On-line bidding will be available – an important aspect in a campaign dealing with 2nd home / resort buyers – Bidders will be able to participate in real time bidding from anywhere in the world
To Showcase the property in the very best light, professional photographs will be taken & utilized in all media
Additionally, Virtual Tours will be available on-line to present the property to individuals who may be interested in purchasing long distance and will be an effective reminder to those who have previewed the property prior to the auction but are unable to attend on auction day and will participate remotely
On-line bidding will be available – an important aspect in a campaign dealing with 2nd home / resort buyers – Bidders will be able to participate in real time bidding from anywhere in the world
Signs and Billboards
Attractive Signs will be strategically placed on the Property.
A Billboard may be secured.
Exposure
Educate
Project Management
Auction Information
Extensive Buyer Due Diligence
Bidder/Broker Seminars
Property Tours
Project Management
Auction Information
Extensive Buyer Due Diligence
Bidder/Broker Seminars
Property Tours
EducationEducation
Auction Information Receives all incoming calls and enters into database
Follows up on all inquiries regarding the properties Initiates an aggressive outbound campaign to previous bidders/buyers as well as brokers
Education
EducationEducation
Property Information PackageProperty Information Package The PIP is one of the most important elements of all our
educational efforts Provides and documents property-specific due diligence
information Online with customer tracking and hard copy Serves to make buyers comfortable with the property and
helps ensure a smooth closing
The PIP is one of the most important elements of all our educational efforts
Provides and documents property-specific due diligence information
Online with customer tracking and hard copy Serves to make buyers comfortable with the property and
helps ensure a smooth closing
Bidder & Broker On- Line Seminars
Bidding & Registration Procedures Educate on ownership structure Sample mock auctionClosing proceedings
EducationEducation
Pre-Sale InspectionPre-Sale Inspection
Experienced site directors will work onsite during the scheduled preview prior to the event to educate buyers on the ownership and location benefits.
Experienced site directors will work onsite during the scheduled preview prior to the event to educate buyers on the ownership and location benefits.
Closure
Broker Incentive Program
Buyer’s Premium Funds auction company and Buyer Broker commissions
On Line Bidding
A program designed for bidders who are unable to attend to participate … increasing active bidder pool
Broker Incentive Program
Buyer’s Premium Funds auction company and Buyer Broker commissions
On Line Bidding
A program designed for bidders who are unable to attend to participate … increasing active bidder pool
ClosureClosure
Buyer Brokers Program Heightens broker awareness of the opportunity presented by
the auction Encourages broker participation in the events to raise auction prices
Closure
J. P. King Auction Company
has been named the exclusive
auctioneer for
Who’s Who in Luxury Real Estate®,
whose member brokers represent more
than 100,000 premier agents throughout
the United States and abroad.
“As the exclusive auctioneer for Who’s Who, J. P. King has repeatedly demonstrated the value of the auction method and their commitment to the highest level of service.”
~Brian Losh CEO at Who’s Who in Luxury Real Estate®
The winning bidder must deposit a 10% down payment on the day of the auction
Buyers sign a contingency-free agreement
Buyers close within 30 days
The winning bidder must deposit a 10% down payment on the day of the auction
Buyers sign a contingency-free agreement
Buyers close within 30 days
Terms of the Sale
AUCTION DAY