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AUCTIONS DESIGNED BY BROKERS FOR BROKERS
DESIGNED BY BROKERS FOR BROKERS
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FOUR SITUATIONS WHERE AUCTIONS OFFER THE MOST VALUE:
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Top of the Market
Allows buyers to competitively bid, often above the list price.
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Declining Market
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Unique Properties
Like a famous work of art, property value can be subjective. Buyers name their price and fight for the property.
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Difficult to Value
Let the market speak through competitive bidding to achieve a true market valuation of your property.
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NOTEWORTHY SALES
- 2 mid-rise office buildings
- Outside of downtown
- Transaction closed within 2 weeks
- Exceeded financial goals for seller
Office Building | Detroit, Michigan
This auction was for two mid-rise office buildings outside of downtown Detroit, MI. Extensive advertising exposed this asset to the market and brought the interested parties to the auction. Ultimately, the successful buyer was identified and closed the transaction within 2 weeks, allowing the seller to exceed their financial goals for the disposition of this asset.
- Residential prop. near Beverly Hills
- Built in 1928 on a large lot
- Property sold all cash to a developer
- Closed transaction in under 30 days
Residential | Los Angeles, CA
This residential property is located in Los Angeles near the Beverly Hills border. It was built in 1928 on a large lot. FRE’s marketing campaign included a standard MLS listing, but we also reached out to residential developers in the region with the premise that a developer would pay an above-market price for the property. The property sold “all cash†to a developer who closed the transaction in less than 30 days.
- Former Ford/RV dealership
- Colliers worked on listing for 3 years
- 3,684 clicks online & 42 registrations
- Multiple bids; winner from Mexico City
Former Car and RV Dealership | Chowchilla, California
This auction was for a former Ford/RV dealership property located in Chowchilla, California. Colliers International’s Fresno office had worked the listing of this seriously challenged property for almost 3 years without success. During the subsequent 45-day auction marketing campaign, we received 3,684 unique website “clicks,†42 prospect registrations and 3 sealed bids accompanied by wire transferred bid deposits.The highest sealed bid received was in the amount of $1,250,100 USD from a buyer located in Mexico City. The “all cash†closing took place less than 30 days later.
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