Why Auction Your Property Part 6

Firstly before I get onto my next part of the property auction story I would like to appologise to all who read my blog for not posting for the last two weeks. I want to thank you for your loyalty and support.

Now for the next step in the story

Specialized Marketing Program

What makes auction marketing different to that of estate agent marketing?

Ok this is going to sound probably unfair for the seller and possibly make the seller want to use estate agents more than auctioneers. But read on before you make that decision. Let me see if I can convince you.

When auctioning any thing from antiques, art, cars or property there is usualy a marketing fee that the seller has to pay. It is normaly a limited cost and the only risk the seller has. Remember when selling a property at auction the seller does not pay commission. The costs for the marketing differs from auction house to auction house. Some auction houses will tailor make a marketing package to suite your pocket and your property. These costs don't normally go over R10 000.00. This would be on a multi property auction. If the seller chooses to have an individual package where the auctioneers will auction the proeprty on its own the costs can go upto about R15 000.00.

Now you may think that the marketing fee is expensive. But think of it in this way.
The seller pays the marketing fee of R10 000.00. The property sees a global market, a market that it has never seen before. With the potential of an overseas indvidual buying the property. The marketing is "in your face". It is an active campaign. The property is then sold at auction and the seller walks away with the price they wanted and saving 10s or even 100s of thousand rand.

Does R10 000.00 seem so bad now?????

Auction marketing out does any estate agency advertising by a mile or more. Becuase the advertising does not say "For Sale", there are avenues that auctioneers can use that estate agents cannot. Such as Street lamp marketing. What this is, is A1 boards with the property and auction details on it. These boards are tied onto street lamp poles in and around the area of the property being sold.
Just the word "Auction" attracts a lot more buyers and the mentality they think they are getting a bargain, but what is really happening is that they are buying a property at the market related price.

The marketing also consists of internet websites such as Property 24, Private Property, The Auctioneer and many others. Most of these sites have gone global. This is where foriegn investment and interest comes in. Then the auctioneer will have their own web site such as Dales Bros Auctioneers.

Then there is the media. Media such as newspapers and magazines which are published weekly and daily. These aren't always the best forms of marketing as they are expensive and have a shelf life of about 48 hours. However they do work.

Well I have run out things to tell you about the marketing of auctioned proeprties. If i have anything else to say I will certainly put it in.

Thanks for reading

Mornay