Let the bidding begin...Alys Beach

[Advance The Man]

Re: Let the bidding begin...

Now this sealed bid thing. It will be interesting to see if people go for it.

I was reading a portion of the FREC (Florida Real Estate Commission) manual and thought I read you cannot have a lottery for sales. You can have a lottery to have the opportunity to purchase. You can submit a sealed bid for an auction, but I didn't think you can sell via this avenue.

Regarding the way Alys requested your client's name...riduculous. In the end, will it really be surprising to see a little deflation? I don't think so. Did you really expect someone to pay $2,000,000 for a 4,000 square foot lot with no Gulfview? Although I wouldn't mind that since I just purchased one in Highland-Parks!

 

[Smiling JOe]

Of course a 50% increase on property purchased at $400K is a $200K profit while a 25% increase on $1.1 million is a $275K profit so people who can afford 30A may still do better than higher appreciating, lower end markets.

I guess that is one take, but, using your numbers, why wouldn't you spend the $1.1M and buy only two lots at $400K each instead of a beach property. Your return (50% you mention) would give you a return of $400K instead of only $275K from the beach property, not to mention you would have spent only $800K instead of $1.1M

 

[Smiling JOe]

Re: Let the bidding begin...

From my perspective, they are isolating local realtors which will bite them in the end. As you said, there's lots of beautiful property to sell here and realtors sell what they are familiar with. After 2 years of not showing Alys, will they all of a sudden flock there when the resales start?

I try to educate my customers regarding all areas to help them choose the best location for their situation. Hopefully buyers (especially those out-of state) realize that these "inhouse" agents provide very limited, "forward looking" information on that one community. They will not be receiving info about Water's edge, Gulf place, 1st tier in Inlet for the same price or any other options. If buyers know the area and still want Alys, great, but by all means, people should do their homework and not just flock to another marketing scheme. Personally, I'd rather be sandwiched between Alys and Rosemary Beach at half the sq ft price and use their shops, activities and walkovers, unless they decide to make them private too!
$$$$$

I guess Alys Beach doesn't care about the long term. After they sell all of the lots, the owners, not the developers, are stuck with the problem of Realtors not knowing the properties.

You also bring up a good point about developer's sales persons. They do not have to be licensed, and may not be able to protect your purchase as much as a Realtor.

 

[Advance The Man]

Re: Let the bidding begin...

You also bring up a good point about developer's sales persons. They do not have to be licensed, and may not be able to protect your purchase as much as a Realtor.

Did Cork say that they don't have to be licensed? They do have to be licensed.

 

[Smiling JOe]

Re: Let the bidding begin...

Did Cork say that they don't have to be licensed? They do have to be licensed.

No, Cork stated, "Hopefully buyers (especially those out-of state) realize that these "inhouse" agents provide very limited, "forward looking" information on that one community."

It just reminded me of the fact that a developer's sales team is not required to be licensed.

 

[Advance The Man]

Re: Let the bidding begin...

No, Cork stated, "Hopefully buyers (especially those out-of state) realize that these "inhouse" agents provide very limited, "forward looking" information on that one community."

It just reminded me of the fact that a developer's sales team is not required to be licensed.

They ARE required to have a valid RE salesman license. You don't need a license if you are a property mgr renting apartments, rent condos for less than 12 months, etc. If you are selling Florida land for a commission, you must be licensed.

 

[Smiling JOe]

Re: Let the bidding begin...

They ARE required to have a valid RE salesman license. You don't need a license if you are a property mgr renting apartments, rent condos for less than 12 months, etc. If you are selling Florida land for a commission, you must be licensed.

Your statement is correct, but not all Developers' sales staff are paid commission, and those on straight salary are not required to be licensed.

 

[Advance The Man]

Re: Let the bidding begin...

Your statement is correct, but not all Developers' sales staff are paid commission, and those on straight salary are not required to be licensed.

I doubt any multi-millionaire dollar development along 30a is going to use a non-licensed sales person. I would be shocked.

 

[Smiling JOe]

Re: Let the bidding begin...

I doubt any multi-millionaire dollar development along 30a is going to use a non-licensed sales person. I would be shocked.

Still, it is a question to ask. Nothing shocks me any more, and usually, money is tied to most decisions made around here. If a developer can save money, he/she often will do it.

 

[Advance The Man]

Re: Let the bidding begin...

Still, it is a question to ask. Nothing shocks me any more, and usually, money is tied to most decisions made around here. If a developer can save money, he/she often will do it.

If I were to purchase there, I would want to know a lot of info they wouldn't provide. How many people are 'bidding'? Will it sell out at least at their minimum?

I would not touch Alys b/c of the unknowns. Who's to say I pay $975,000 and you pay $775,000 for a lot that is right next door to mine. Too scary. I would have a lot that is already $200,000 in the red.

This project with the bidding reaks of arrogance.