RE/MAX Auction Team is an elite team of experienced and professionally trained people who utilize the auction process. We specialize in auctioning real estate in Bowling Green KY area and across southern Kentucky, including residential, land and farm, commercial, lake property, and luxury property. RE/MAX is recognized as the leader in the real estate industry and combined with our hard working team you get a winning combination. The auction process, while not new, is fast becoming the method of choice for meeting the needs of both sellers and buyers. We know the Bowling Green KY / Southern Kentucky area and are ready to go to work for you!
We don’t wait for buyers to find you. We actively go to them, wherever they may be, through the Internet, direct mail, national advertising techniques, and other media outlets.
• Free consultation – Our auction team offers a free consultation for all of our clients to determine the best plan of action in selling your
• Custom Brochures – When selling your property through an auction, our team with create a custom brochure that explores all the great
qualities of your property. It will be tailor-made to fit the needs of your specific auction.
• Newspaper and Trade Publication Advertisements – Marketing for properties can include advertising in local and regional newspapers,
as well as ads in Auction magazines
• Internet Advertising – A detailed description will be posted to sokyacutions.com, where a wide range of buyers will be able to view
photos and a full lot description of your property.
• Radio/TV Advertising – Some properties will benefit from television and radio promotion. These advertisements will be professionally
recorded and have the ability to reach a wide variety of audiences and potential buyers. We will choose which stations to advertise on
based on the audience we are trying to reach.
• Signage – We will create custom RE/MAX Auction signs that will be tailored to the needs of your property. These signs will catch the
attention of any passers-by. If your property is located far from traffic, arrow signs will be posted to direct more traffic in your direction.
Advantages for the Seller:
• The auction method of marketing exposes property to a large number of pre-qualified prospects and creates competition among buyers
– at times exceeding the price of a negotiated sale. The auction process creates an atmosphere of excitement and competition
• Auction benefits a seller in both strong and slow markets. In a strong market, the competitive bidding process provides unlimited upside
potential. In a slow market, auction allows the seller to sell property quickly at current market price and avoid the risk of overpricing and
then offering price reduction after price reduction to stimulate buyer interest and catch up with slowing market conditions.
• Advertising and marketing via the internet, color brochures, auctionzip.com, email mail lists, on-site sign and newspaper and print
advertising gives property targeted and complete market coverage.
• Accelerates sales – property typically is sold within six to eight weeks of listing and closes within 30-90 days from auction date.
• The Auction process treats all parties in the transaction in a fair and equitable manner. The terms and conditions of the auction are the
same for everyone. When property is sold by auction, no potential buyer has an unfair advantage.
• Auction eliminates high seller carrying costs (such as mortgage payments, interest, taxes, water, sewer, heat, maintenance, etc.) by
setting a specific date and time to close on the property.
• Auction typically requires the buyer to pay a 7% buyer’s premium.
• The auction process requires action and a decision from buyers – they must act now or lose the opportunity to purchase.
• Auction agreements typically require a buyer deposit of 10% of the total purchase price. This money is given directly to the seller on the
day of sale and is non-refundable. The 10% deposit calls a buyer to higher commitment than a typical negotiated sale and results in a
successful close to sale ratio.
• Auction reduces the time that a property is on the open market and eliminates numerous, inconvenient, and unscheduled showings to
unqualified prospects by concentrating all the showing activity into a few specific showing dates when all buyers are welcome to inspect
• Auction allows the seller to be removed from the negotiating process and eliminates senseless contingencies. The seller knows exactly
when the property will sell and when he/she will receive the proceeds from the sale.
• Auction allows the seller to set the terms and conditions of the sale, maintain control of the property throughout the auction, and actively
participate in the sale process.
• The Brokers Participation Marketing Option allows the seller to utilize the large Real Estate network of Brokers/Realtors/ and Associates
to the sellers advantage at auction.
Advantages for the Buyer:
• Auction provides an opportunity to purchase property at fair market value based on selling price and not asking price.
• Auction eliminates negotiation periods that are sometimes long and frustrating and brings the transaction to the closing table.
• Auction allows buyer to purchase property with the knowledge that there is a contending bid one increment below the purchase price.
• Auction allows buyers to set their own purchase price by negotiating the price up while bidding.
• Auction reduces the stress of setting dates and contingencies in that the terms and purchasing and closing dates are known in advance.
For more information give us a call
Michael E. Miller
Billy Joe Mitchell
Copyright 2016 RE/MAX Real Estate Executives