How Real Estate Brokers Participate in Auctions?

Your Listing + 7H Auctions = More Deals Closed in Less Time!

In today’s real estate market Brokers need to have a cabinet full of resources to help them transact more deals efficiently. Let 7H Auctions help you…help your seller. Together we will create a marketing and sales plan for your listing in order to help it gain local, regional and national attention. Take a moment to learn below how we routinely work with brokers on all sides of the transaction.

Referring Brokers
Are you looking for away to gain more exposure for your listing, have it under contract quicker, eliminate a long list of contingencies or just want a shorter closing time? A 7H Auction maybe just what you need. Give us a call at 800.742.9165 to get the process started. We will work with you to create a plan that works for you and your seller.

Listing Brokers
We routinely work with financial institutions, hedge funds and others that already have listing agents in place. We encourage our clients to allow us to work with the listing agent to create a well rounded team with local market knowledge, strategic marketing and advanced auction technology. If a client you are working with has notified you about their desire to include the asset in a 7H Auction, we encourage you to give us a call to learn more about our process. You will also receive detailed information about the event from our staff. Welcome to the team!

Buyer’s Brokers
We encourage brokers to routinely view the properties we have to offer. Most of our offerings have a broker participation plan stated in the property details section. See a property that may work for your client? In the “Important Documents” section you will find a broker registration form. (1)Complete the form, sign it and have your client sign it. (2) Follow the instruction on sending it back to us 48 hours prior to the closing of the auction. When your clients register we match the buyer broker form to your client’s online registration. (3) If they buy and close you get paid! It’s as easy as 1, 2, 3.

Auctions are a great tool for brokers. Don’t just take our word…here are the basic benefits according to the National Association of Realtors.

BENEFITS TO THE SELLER:

     •  Buyers come prepared to buy
     •  Quick disposal reduces long-term carrying costs, including taxes & maintenance
     •  Assurance that property will be sold at true market value
     •  Exposes the property to a large number of pre-qualified prospects
     •  Accelerates the sale
     •  Creates competition among buyers—auction price can exceed the price of a negotiated sale
     •  Requires potential buyers to pre-qualify for financing
     •  The seller knows exactly when the property will sell
     •  Eliminates numerous and unscheduled showings
     •  Takes the seller out of the negotiation process
     •  Ensures an aggressive marketing program that increases interest and visibility
BENEFITS TO THE BUYER:

     •  Smart investments are made as properties are usually purchased at fair market value through competitive bidding
     •  The buyer knows the seller is committed to sell
     •  In multi-property auctions the buyer sees many offerings in the same place at the same time
     •  Buyers determine the purchase price
     •  Auctions eliminate long negotiation periods
     •  Auctions reduce time to purchase property
     •  Purchasing and closing dates are known
     •  Buyers know they are competing fairly and on the same terms as all other buyers
     •  Buyers receive comprehensive information on property via due diligence packet
BENEFITS TO THE REALTOR®:

     •  Generates a list of ready, qualified buyers
     •  Offers clients and customers new selling and purchasing options
     •  Increases revenue and market share
     •  Develops your own market niche
     •  Assurance that property will be sold at true market value
     •  Property is sold within a relatively short period of time
     •  Exposes the property to many potential purchasers
     •  Auctions bring people in to look at all your listings, not just the auction listing
     •  Successful auctions result in referrals and return business
     •  Agents can earn commissions as referring agent/broker, cooperating agent/broker, or as the listing agent/broker