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Effective Advertising and Promotion/Auction process

By
Real Estate Broker/Owner with Investor Realty Group, LLC BK3075919

 

 

The key to a successful auction depends on effective advertising and promotion. The Auction marketing plan is always carefully analyzed and an effective and creative advertising and promotion program will be prepared and directed to as many potential buyers as possible.

Publics' relations campaigns can be extremely effective for our clients. A single campaign can deliver many thousands of dollars worth of publication space for an Auction event in national, regional, and local newspapers in addition to coverage in other media, such as radio, television, and internet. In addition, public relations press releases are perceived as third party endorsements of the event, adding to its credibility. A public relations campaign brings increased attention to the Auction from an independent perspective.

 

Cree Quaker
The Machree Group, LLC - Woodstock, NY
Ulster County Real Estate

Hi Troy,

 Do you find auctions work better for luxury properties?  I've always been skittish about not getting the reserve price.

 

 

Mar 26, 2008 06:15 AM
Joeann Fossland
Advantage Solutions Group - Tucson, AZ
Master Certified Coach to Motivated Agents

Marketing is a huge part of whether something sells. Auctions are something everyone should know about

Mar 26, 2008 06:17 AM
Investor Realty Group
Investor Realty Group, LLC - Jacksonville, FL
Local Expertise with a Global Reach

Hi Cree,

It can be tricky.  The key is to make sure that the reserve represents a highly motivated seller.  My rule of thumb is to try to convince the seler...if they can swing it, is to not exceed 70% of estimated market value.  Even though you can often exceed that number, auctions take a great deal of money, time and effort and no one wins unless the reserve is met.  Hope this helps

Mar 26, 2008 07:19 AM