home earn 100% commission search for homes buy a home sell a home agent list opulent properties reo services real estate auctions wholesale real estate contact us agent intranet	REAL ESTATE AUCTIONS: BALTIMORE CITY, BALTIMORE COUNTY Real Estate Professionals, Inc. can market and sell your real estate using the auction method. Since Real Estate Professionals, Inc. is a real estate brokerage company and auction company, we can provide your property with greater marketing exposure. We bring all of the benefits of traditional real estate brokerage and combine this with the benefits of the auction method of selling in order to get you the highest price possible. Many traditional real estate companies know how to market a property effectively and cooperate (share commissions with each other), but aren’t able to create demand or create a sense of urgency. Many auction companies know how to sell a property, but aren’t able to effectively market a property to get top dollar (market value) for it. Real Estate Professionals, Inc. uses the best techniques from both traditional real estate brokerage and auction to sell your property effectively and for a fair market value price. IS YOUR PROPERTY A CANDIDATE FOR A REAL ESTATE AUCTION? Many people think that auctions are only for distress situations. While auctions can be the right vehicle for a motivated seller or distressed property, many sellers are using real estate auctions to get the true market value of residential, commercial, multi-family real estate and land. The type of properties that sell well and receive the highest prices at real estate auction in the Baltimore area are: · Unique Properties (historic, one of a kind, landmark, unique design) · Demand Properties (neighborhoods without a large supply of homes for sale, desirable neighborhoods, waterfront) · Commercial Real Estate (retail, office, industrial, development opportunities) · Multi-family Real Estate (apartment buildings from two units to apartment complexes) Not every property is right for auction. Some auctioneers and auction companies will take any property with a chance of selling because they only offer auctions (to a hammer, everything looks like a nail). We will take time to assess your situation and evaluate your property before recommending a real estate auction. Many times we recommend selling the property through traditional real estate brokerage only because this may be the way to get the highest price for you. We will be honest with you and give you a written evaluation of your real estate along with our professional opinion all at no cost to you. WHY WOULD I CONSIDER A REAL ESTATE AUCTION? An auction can benefit you as a seller in a number of different ways. If you have a desirable property, the competitive bidding situation of an auction sale can bring a market value or above market value price at terms favorable to you. Knowledgeable real estate marketers use the “auction effect” to your advantage in order to get you the highest price for your property. The “auction effect” is the feeling a potential buyer gets when they see other potential buyers for a property that they are interested in. Hopefully, a buyer wants to compete and win the property by bidding to the highest amount that they are willing to pay. Even when a property is sold by conventional real estate brokerage methods, there are techniques that can be used to create the “auction effect.” BENEFITS OF A REAL ESTATE AUCTION Typical auction terms that are favorable to the seller include: · As-Is sale: The property is sold in as-is condition and the seller will not have to worry about making inspection repairs or making the property condition acceptable to a mortgage lender. · Large deposit: The buyer will place a large earnest money deposit to seal the deal. Deposits are negotiable, but are typically between 5-10% of the sale price. · No sale contingencies (home sale, buyer financing or property inspections) · Buyer to pay all transfer and recordation taxes which are customarily split equally. · Settlement to take place within 30-45 days from the date of the auction. NEGATIVES OF A REAL ESTATE AUCTION Some of the negatives associated with real estate auctions are: · Advertising costs: Most auctioneers will charge advertising fees up front. You pay all advertising costs regardless of whether the property sells or not. · Since the terms are favorable to the seller, the property may sell for less than its market value unless the property is very desirable and unique. · An auction sale is advertised and conducted on a single day at a single time. Your best buyer may not be available or may not go through the trouble of attending the auction and bidding. You have one shot to get it right or you have wasted your advertising money. · Since the property is sold as-is, your buyer may not be able to arrange mortgage financing to close the sale. Auction properties are typically offered in “as-is” condition. This can be a tremendous advantage to a seller who has a property that needs more than minor repairs. One of the negatives to real estate brokerage is that some contract offers may contain “contingencies” for property inspections and you could end up losing a sale over poor property condition, especially if there are hidden defects. Many auctioneers do not understand that Maryland law requires the seller and auctioneer to disclose hidden defects when residential real estate is offered for sale. Failing to disclose hidden defects using the proper paperwork leaves you exposed to a possible future lawsuit. We know and follow all applicable laws pertaining to the sale of real estate to limit your liability and protect you. EFFECTIVE REAL ESTATE MARKETING Marketing is an art and we know how to get you the highest price that the market will pay for your real estate using techniques that we have developed over many years in the Baltimore real estate market. Call us at 410.918.9740 and we will patiently answer your questions and explain everything that is involved with selling your real estate at auction. We won’t try to “sell” you or rush you to sign anything. You won’t get a sales pitch, just professional advice, an honest assessment of your real estate’s value and somebody you can trust. Certified Real Estate Auctioneer, Robert D. Kaetzel is a REALTOR® and licensed real estate broker in the State of Maryland* with over thirteen years of experience in real estate marketing and a track record of personally selling over 1,000 properties in the greater Baltimore area. Robert manages the auction sales division of Real Estate Professionals, Inc. along with his Dad, Certified Real Estate Auctioneer, Bob Kaetzel. Many of the sales agents affiliated with Real Estate Professionals, Inc. have the Certified Auction Associate, CAA designation, which is a new designation created by Real Estate Professionals, Inc. to indicate competency in evaluating and marketing auction properties. A Certified Auction Associate from Real Estate Professionals, Inc. can advise you about selling your real estate at auction and make professional and unbiased recommendations to you. “Certified Auction Associate” and “CAA” are service marks of Real Estate Professionals, Inc.
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