You can learn a lot from all feedback! Good luck and look forward to the orientation.
Sotheby's Auction
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You can learn a lot from all feedback! Good luck and look forward to the orientation.
Very Wise.
Hi All. Referring back to the post by Shelly (Barron's Article): I had the pleasure of meeting Chad Roffer yesterday at our orientation for the auction (for Sotheby?s Agents only, the co-broker + seller orientation is January 16). It was the official launch of our auction coming in April (we agreed to change the date from March 15, to April 5). We discussed the November Auction in detail. The sales from the Sarasota November Auction have reached 100 million, with 20% of the sales happening prior to the auction (mostly the day before) and some being residual. The auction that produced zero sales the day before the Sotheby?s Auction was a ?competitor? who tried to come in with a weak marketing plan- charging a nominal marketing fee to the sellers. This was truly a case where you get what you pay for.
Some of the stats that I found most interesting: absolutes received 11 times more bids than reserves. Competition drives prices. Also, Sky Sotheby?s gained 50% more market share after their auction due to success and media attention. I mentioned a lot of other stats in an earlier post that were highly intriguing.
I am happy that I have many co-brokers interested in participating ? If you have a seller who you think might be a candidate, please consider coming to the orientation on January 16th. It seems the ideal product mix will not be hard to reach, as there will only be 50 offerings. It seems like an ingenious way to create urgency in a market that is otherwise over-saturated. It certainly has given me something to talk about. One of the best candidates I have had thus far was generated from the postcard mailing I posted about earlier- it landed me a waterfront seller who purchased 6 years ago. He wants to do an absolute and considers this option an easy way to unload investment property. No distress, just wanting an accerlated sell... This is the ideal scenario, not only because it is a guaranteed payday for me, but because he gets the Net Present Value and is realistic about the market. Carrying that property until it sells in the current market- is not something he is wants to do. When you look at his insurance, taxes and mortgage, it is a better idea to sell now at the Net Present Value. It also helps that he bought six years ago. Think about your sellers, maybe approach them and see if they are interested. I suggest coming to the orientation. I hope you feel you have nothing to lose and much to gain.
Some of the stats that I found most interesting: absolutes received 11 times more bids than reserves. Competition drives prices. Also, Sky Sotheby?s gained 50% more market share after their auction due to success and media attention. I mentioned a lot of other stats in an earlier post that were highly intriguing.
I am happy that I have many co-brokers interested in participating ? If you have a seller who you think might be a candidate, please consider coming to the orientation on January 16th. It seems the ideal product mix will not be hard to reach, as there will only be 50 offerings. It seems like an ingenious way to create urgency in a market that is otherwise over-saturated. It certainly has given me something to talk about. One of the best candidates I have had thus far was generated from the postcard mailing I posted about earlier- it landed me a waterfront seller who purchased 6 years ago. He wants to do an absolute and considers this option an easy way to unload investment property. No distress, just wanting an accerlated sell... This is the ideal scenario, not only because it is a guaranteed payday for me, but because he gets the Net Present Value and is realistic about the market. Carrying that property until it sells in the current market- is not something he is wants to do. When you look at his insurance, taxes and mortgage, it is a better idea to sell now at the Net Present Value. It also helps that he bought six years ago. Think about your sellers, maybe approach them and see if they are interested. I suggest coming to the orientation. I hope you feel you have nothing to lose and much to gain.
Do you know whyizit that the Sugar Bay Estate on Casey Key, that was reported in the newspapers as "sold" for a record $14M during the Sarasota auction in November 2007, is listed on the Sky-Sotheby's website as "backup offers needed" and showing a price of $20M? http://fl.skysothebysrealty.com/sarasota/344239/
Is it a flip?
.
Is it a flip?
.
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I'll find out. That sale was a record-breaking price for Sarasota real estate. I will check into the back-up offers and post back with what I find out.
Chad looked healthy. Younger than I thought he would be. He reminded me of my corporate days with Playground/Intrawest- must be that Canadian accent.
Chad looked healthy. Younger than I thought he would be. He reminded me of my corporate days with Playground/Intrawest- must be that Canadian accent.
The response from Sky Sotheby's:
Regarding your email and the agent who is inquiring about the 1522 & 1538 Casey Key Road: Those properties were listed collectively for $20,035,000 prior to the auction and received a contract of $14M on Auction Day. The seller was one of few who requested a longer contract term than 30 days, to close in the New Year for tax purposes. It is still pending, so feel free to pass that information on. We actually received a back-up offer on one of the parcels last week.
Regarding your email and the agent who is inquiring about the 1522 & 1538 Casey Key Road: Those properties were listed collectively for $20,035,000 prior to the auction and received a contract of $14M on Auction Day. The seller was one of few who requested a longer contract term than 30 days, to close in the New Year for tax purposes. It is still pending, so feel free to pass that information on. We actually received a back-up offer on one of the parcels last week.
You go girl!
Hello all. Wednesday is the seller and co-broker orientation. I just wanted to remind you- in case you plan to check out the grub Shelly. 
The venue is The Palms in Destin.
I am looking forward to meeting some of you in person. If you are interested in coming, please let me know. It should be quite a turn out.
I believe the auction properties will be determined before the end of the month. I will certainly post again as I know the mix. My hopeful sellers are a mix of SFH, condos and Parcels. I'll let you know the reserve vs absolute mix, as well. Any interesting stats I can glean I will throw your way. If you have some questions, send them my way.
The venue is The Palms in Destin.
I am looking forward to meeting some of you in person. If you are interested in coming, please let me know. It should be quite a turn out.
I believe the auction properties will be determined before the end of the month. I will certainly post again as I know the mix. My hopeful sellers are a mix of SFH, condos and Parcels. I'll let you know the reserve vs absolute mix, as well. Any interesting stats I can glean I will throw your way. If you have some questions, send them my way.