Frequently Asked Questions
Q. Who will present the details of the auction to my seller?
A. One of our auction professionals will accompany you and will present our auction program to your sellers. As you can see, it is very different from traditional brokerage and it does require a detailed presentation to the seller.
Q. What is the first step in introducing the auction idea to my seller?
A. Schedule an appointment for you and our auctioneer to meet with your sellers.
Q. What is expected of me as a Listing Associate with a property in the auction?
A. You are a very important part of the entire auction process. Your name and phone number will be listed in the auction ads so you will be receiving the majority of the calls about your property along with the auctioneer in charge.
Q. As a Listing Associate, how will I be compensated?
A. You always receive the listing side based on the auction high bid price. And, if you properly register a buyer who is the successful bidder at the auction, you will receive a referral on the sales side when offered.
Q. Are all properties suitable for auction?
A. Most properties, but certainly not all are saleable by auction. Residential property, commercial property, vacant land, even boat slips are sold at auction. The majority of sound developments that can be marketed effectively do extremely well at auction.
Q. Why should I recommend the auction method to my customer?
A. It depends on your seller’s needs. Any number of reasons. If the seller needs immediate action for the sale of their property. Some common reasons include a job transfer to another city, another home already purchased, absentee land owners (some may have inherited property but live in another city; they once lived here and thought they would come back but haven’t), 1031 tax exchanges where timing is an issue and farms that have been divided where multiple properties can all sell in one day. Very seldom do we hold an auction due to foreclosure. Sometimes, we do auctions in lieu of foreclosure.
Some of our best and most popular auctions are with unique properties. Those that are incomparable and will attract a large number of buyers.
A Message to Realtors…
We are realtors and believe our job is to advise people on the best way to market their property. We are not in competition with you for your customers, we are here to assist you much like a mortgage lender, appraiser and a closing company. We know it takes a high level of trust on your part to make any recommendations to your client. We are here to earn your trust and are glad to answer any questions you might have. Thank you for your interest in Parks Auction Co. LLC.