Sale Methods

Selling By Sealed-Bid

Shorter Days on Market
"Sell in 90 days or less", by specifying a date on which you intend to sell, you create a sense of urgency with potential buyers and this becomes a catalyst for the entire sales process.

More Exclusivity
​​​​​​​
Focus on your property alone by exclusively showcasing it throughout the marketplace, which will provide maximum visibility among the target market most likely interested in your property. Our experienced marketing professionals, public relations and direct sales efforts will bring your property to the attention of qualified prospects.

Shorter Carrying Costs
​​​​​​​
A sealed-bid auction helps you eliminate the costs that erode your equity, and will often net you the highest price possible.

More Control
​​​​​​​
Buyers act on your schedule because you set the date and time of the sale and the terms and conditions such as earnest money deposits, closing time frames and more, thus eliminating negotiations. Potential buyers know you are committed to sale on a specific date, therefore, they do their homework in advance and arrive ready to bid on sale day.

Price​​​​​​​
Luxury properties have few 'comparables' upon which to base a true appraisal. Auctions establish the fair market value and eliminate guesswork in determining the asking price. There's no limit on the upside potential.

Shorter Closing​​​​​​​
​​​​​​​
"Close in 30 days or less", sealed-bid auctions can be made contingency free, so you'll be able to make plans based on an on-time closing of your property.

Selling By Traditional Listing For Sale

Longer Days of Market
In a slowing market, it's possible that your property will remain on the market for months or even years, leading to price reduction to encourage buyer interest and activity.

Less Exclusivity
​​​​​​​
Your property will be one of many that is minimally advertised, which creates a heavy reliance on the Multiple Listing Service.

Less Control
​​​​​​​
There is less motivation for buyers as you are waiting on them. Plus, you must negotiate all aspects of the sale.

More Control
​​​​​​​
Buyers act on your schedule because you set the date and time of the sale and the terms and conditions such as earnest money deposits, closing time frames and more, thus eliminating negotiations. Potential buyers know you are committed to sale on a specific date, therefore, they do their homework in advance and arrive ready to bid on sale day.

Price​​​​​​​
​​​​​​​
You risk overpricing, and thus seeing little interest, or under pricing and selling for less than the property is worth. The upside potential is limited by the asking price.

Longer Closing
​​​​​​​
If you have ever 'sold' a property contingent on financing or on the sale of the buyer's property or with other common contingencies, you know how difficult and frustrating closing that sale can be.

Determining if a Property or Business Qualifies to Be Sold Through the Method of Sealed-bidding

Not every type of business or real estate is suitable for sale using an auction – public or private. Auctions work well for businesses and properties that appeal to many buyers. If your business or property is not appropriate for an auction or placement with our firm, we will recommend an alternative that will be the most beneficial for your type of property.

Why the Sealed-bid Process?

The auction process has been utilized for centuries to identify value for unique items, including real property. Incomparable properties cannot be judged against another property down the street or even in the same market. Thus, trying to identify value is impossible, even for a real estate agent or professional appraiser. If your ultimate goal is to determine the highest price someone is willing to pay, an auction is the way to go.

An auction is also an effective way to meet a deadline. If there is a reason to ensure a piece of real estate is sold by a certain date, scheduling an auction is the way to go. Buyers are made aware a Seller is committed to sell on a specific date; therefore, they submit their bid on or before the date of the bid deadline.


Why Sealed-bidding Vs Public Bidding in Person?

Sealed-bidding is convenient and discrete. Buyers who want their privacy prefer sealed-bid auctions rather than bidding on-site in person against other Buyers. 
In addition, sealed-bids can be structured to allow Buyers to include contingencies in their purchase offer to protect them – such as attorney review provisions, opportunity to obtain financing and the ability to conduct inspections.


Why Sell Through Sealed-bidding Vs Traditional Listing for Sale ?

With a “Traditional For Sale Listing”, there is less motivation for Buyers, as you are waiting on them.
With a “Sealed-Bid Auction Listing”, it causes Buyers act on your schedule because you set the date and time of the sale and the terms and conditions.

A sealed-bid auction is an incentive-based method of sale, structured on the performance of the entire marketing process and ability to generate a demand for the property to drive the highest sales price possible for a Seller.

Work With Michael

Michael’s proven track record and ability to succeed in any market condition has led him to specialize in rep­resenting unique, rare and one-of-a-kind properties throughout Upstate New York.

Let's Connect