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Hawaii Life Real Estate Brokers – Why Auctions Work in Today's Market

Tough real estate market? Change what you are doing. At our latest office meeting, I was reminded of the definition of insanity…“doing the same thing over and over again, but expecting different results.” This reminder was followed up by the introduction to an alternative way to sell real estate; selling homes at an auction.

Alternative thinking and fearlessness leads to an open road with endless possibilities!

In today’s market, it is important to be creative and to offer alternatives to your clients. Hawaii Life Real Estate Brokers is a company that is flexible and fearless when it comes to doing things differently. Change is constant and inevitable, so what does Hawaii Life do? Leads the way! 

One way in doing so, Hawaii Life has partnered with Premiere Estates Auction Company (PEAC) as an alternative to traditional real estate sales. PEAC is the nationwide leader in Auctions and Accelerated Marketing & Advertising Campaigns of residential real estate. This partnership provides Hawaii Life with the expertise necessary to offer our sellers an alternative to the traditional way of marketing and selling their property.

Often times, people associate real estate auctions with distressed properties, on the contrary, PEAC auctions are specifically for non-distressed properties. These auctions are perfect for the motivated seller who wants to get on with their life. Premiere Estates Auction Company has sold some of the highest-priced properties in the United States at their auctions. This alternative is becoming more and more popular in the United States, but is already common practice for selling real estate in Australia and other parts of the world.

Why do auctions work in today’s market?

  • Auctions create a sense of urgency with buyers—a fear of loss—a “one day, one chance” opportunity—and provide affirmation that the seller is committed to the sale.
  • Buyer interest and excitement increases because of the PERCEIVED deal, value, and/or opportunity that only the auction can generate.
  • Infusion of marketing dollars—PEAC creates a strategic, aggressive marketing and advertising campaign with National and Global reach.

Somewhere over the rainbow (MLS# 239820), there’s always an alternative!

How a PEAC auction benefits you as a seller:

  • Seller pays no commission; the winning bidder pays it through a buyer’s premium
  • Buyers and listing agent fully compensated
  • Seller chooses the date when the property sells
  • Property sells “AS IS” with no contingencies
  • Property exposure is maximized and draws the attention of multiple, targeted buyers
  • Upside potential is unlimited with regard to sales price
  • Seller can plan his/her next step with confidence
  • Buyers are motivated to make a decision in a slower “buyers’ market”

Hawaii Life Real Estate Brokers and Premiere Estates Auction Company will be holding their first real estate auction on November 26, 2011 on the beautiful Big Island of Hawaii.

Interested in getting your house sold during the auction? Contact us directly for more information.

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Katie Minkus, R(BIC)

August 19, 2011

Aloha Julie! Thanks for the great information on our upcoming auction with Premiere Estates! We’ve got a good number of sellers already signed up for our Nov. 26th auction, and are looking for a few more special properties to highlight and sell. We know that this method of selling property works in a market like we’re currently experiencing and are stoked to be able to offer it to our clients!

Katie Minkus, R(BIC)

August 19, 2011

Aloha Julie! Thanks for the great information on our upcoming auction with Premiere Estates! We’ve got a good number of sellers already signed up for our Nov. 26th auction, and are looking for a few more special properties to highlight and sell. We know that this method of selling property works in a market like we’re currently experiencing and are stoked to be able to offer it to our clients!

Brooke Derby R(S)

August 19, 2011

Great information Julie! Thanks for sharing. I was just talking to a new client today about this and so I am going to pass this blog onto him to review!

Brooke Derby R(S)

August 19, 2011

Great information Julie! Thanks for sharing. I was just talking to a new client today about this and so I am going to pass this blog onto him to review!

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Annie Mendoza, (RS)

August 25, 2011

Julie…mahalo nui loa for the “auction” outline in this post! I’m excited to see the positive results!

Annie Mendoza, (RS)

August 25, 2011

Julie…mahalo nui loa for the “auction” outline in this post! I’m excited to see the positive results!

paul tasker

October 4, 2011

auctions are great when they’re done right…at 5k per auction i don’t see how it can be done right.

paul tasker

October 4, 2011

auctions are great when they’re done right…at 5k per auction i don’t see how it can be done right.

Katie Minkus, R(BIC)

November 18, 2011

@Paul – the cost is different for every auction, depending. In this case, it’s not 5k for the entire auction, but for each property, which means the total amount of marketing dollars is significant and goes a long way. Plus, there are a bunch of ways to market that cost virtually nothing, including emails to our database of over 35k buyers interested in Hawaii…

Katie Minkus, R(BIC)

November 18, 2011

@Paul – the cost is different for every auction, depending. In this case, it’s not 5k for the entire auction, but for each property, which means the total amount of marketing dollars is significant and goes a long way. Plus, there are a bunch of ways to market that cost virtually nothing, including emails to our database of over 35k buyers interested in Hawaii…

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