Beginning of March 2022 I received a call from a woman asking about our real estate auction services such as, how long it takes to sell a property, costs, reserve price, marketing and so forth. As I was explaining about the process the woman asked if I was Michael Marienwald, and when I replied yes, and she said that she was calling me from a newspaper clipping she had saved from a 2008 article in the London Free Press. It was an article about how we sold 4 Ingersoll Ontario properties and a newer home in Byron. I had no idea I had a fan!
We discussed the details of their property and timelines and made arrangements to meet the next day at the penthouse to be auctioned. At our meeting, I toured the penthouse, offered some advise on what to do and not to do to improve the look of the penthouse while not investing too much money, and explained our auction process. During this visit we also spoke about the current market and how we all felt that the market was taking a turn for the worse as a seller and that we should get the property on the market as quickly as possible. The sellers agreed they would work as quickly as possible to ready the penthouse for the auction and within 5 weeks it was ready to go. During this time we also prepared our marketing for the penthouse with a marketing package that included MLS in London and Toronto, Facebook, Twitter, LinkedIn campaigns, Newspaper press releases, and a mass email campaign.
What a change the market had made! By the time the penthouse was ready the market for condos in London had gone from no change in February to a 41% reduction in condo sales year over year and the volume of condos on the market shot up by 138%! This penthouse needed to be sold ASAP and now we were up against a quickly turning market but this was no new territory for North American Auctioneers and we set forth with our marketing campaign with a fantastic sales video and:
·
Facebook
& Instagram reached over 23,000 people with almost 4,000 engagements
·
The video received
over 700 views on YouTube
·
LinkedIn
had over 15,000 impressions with over 50% click-through rate
·
Over 6000
emails were sent to our buyers list
·
MLS in the
local area and other areas where we thought might attract likely buyers
On auction close date although not the huge amount of buyers we had hoped for in February North American Auctioneers was able to generate interest and offers on the penthouse and sell it without conditions to a family from the Toronto area at a price satisfactory to the sellers and the property was sold.
If you find yourself
in a changing market needing to sell, contact North American Auctioneers where
you will be sure your property will receive the best marketing campaigns
available to generate those unconditional offers to sell your property quickly
at your minimum price or more.
***
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AUTHOR’S NOTE:
Michael Marienwald is founder and president of North American Auctioneers, Broker of record for Anchor Realty and president of Mountain Realty. He is one of 4 Accredited Auctioneers of Real Estate in Canada, and a Certified Real Estate Auctioneer. Michael has been selling Real Estate conventionally and through auction throughout Canada since 1989 and has also taught Real Estate auctioning at the Ontario School of Auctioneering.
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