5 minute read
COMPANY PROFILE
WE SELL ONE-OF-A-KIND, UNIQUE PROPERTIES
YOUR NEXT SMART BUSINESS DECISION
Our sellers choose to auction as a smart financial decision. They did not end up owning a prime property by luck, but rather by making thoughtful choices. We’re here to help make another.
LUXURY HOMES ARE UNIQUE
All of the things that make a luxury property unique are the reasons it will likely fall into one of two categories.
A | The home will sell quickly (60–180 days) at a high percentage of the list price; or B | The home will likely linger on the market for years, and sell for a fraction of the original asking price.
SOLD | GREENWICH, CT | LISTED FOR $7.195M
OUR AUCTION FORMATS
We analyze each property and the local market conditions to determine the most effective approach.
WITHOUT/NO RESERVE | The property will sell to the highest bidder at auction. There is no minimum bid that must be exceeded to purchase the property; or
RESERVE | The property will sell at or above a pre-determined price threshold at auction.
ONLINE BIDDING
The majority of our auctions take place via our online marketplace, ConciergeAuctions.com. Dedicated representatives are also available for assistance via phone. Bidding is typically open for 48–72 hours.
“BUY NOW” PROGRAM
Our optional “Buy Now” program allows offers to be made on properties prior to their scheduled auction. It is not uncommon to receive a pre-auction offer, and all offers are presented to sellers for consideration.
OUR SUCCESS RATE
We have a dedicated, in-house closing team with a historical close rate of 87% for all properties that are successfully auctioned. All interested parties complete due diligence during the exposure period of the property, as all sales are “as-is” without contingencies, typically within 1–4 weeks of the scheduled auction. The Auction Terms and Conditions, Purchase Contract, and available property documents can be downloaded directly from the property’s page on our website.
CONCIERGE + AGENT PARTNERS
SOLD | PRINCETON, NJ | $5.5M
AGENT PARTNERSHIP
One of our key tenets when we founded Concierge Auctions was giving control back to agents and their clients. We know first-hand that agent partners are necessary, particularly in the buying and selling of highend real estate. They know the community. They know the market. And, they know each other. The right agent is worth their weight in gold. That is why we are the only auction company to date that has partnered with a broker/agent on every sale, and we protect commissions on both sides of the transaction.
PREFERRED AGENT NETWORK
Over the past decade, we have established our own network of top agents from across the globe who are experienced with our platform and the luxury market. We understand the value this network brings in terms of experience and local market knowledge. Preferred agent partners have a deep understanding of the local market and the leverage of an extensive business and personal network. Between us, the agent, and our seller, this partnership is a win-win-win for everyone.
DAYS ON MARKET + SALE PRICE
SOLD | PHUKET, THAILAND | $3.184M
LIVING IN A ZILLOW ® WORLD
Buyers can clearly see the full history of a property, including total Days On Market, price history, every listing agent hired, every price reduction made, every time a property has been de-listed and re-listed. Here’s the hard truth: These strategies don’t work. Today, information about a property’s history is more transparent than ever.
DAYS ON MARKET ARE THE ENEMY
Research shows the largest factor in determining the price of a luxury property is the number of days that it has been marketed for sale. The result is directly correlated to what happened before calling us, and the odds are working against the property every day. Like UV rays on the skin, they are toxic, and the longer luxury properties are exposed, the more harmful they become. Every day a property is on the market, it depreciates in value. When a property has been on the market for a prolonged period of time, not only does it suffer from negative perception, but there’s an inherent cost associated with the accumulated days. We eliminate this cost.
SOLD | PARADISE VALLEY, AZ | LISTED FOR $35M
THE INFLECTION POINT
There is a point of inflection where real estate turns from necessary to discretionary. Similar to other luxury consumption—cars, planes, yachts, and wine—once a home has not only been enjoyed but also highly customized to its owner, it is worth significantly less to the next buyer.
High-end real estate acts the same way; plus it’s static in location. Oftentimes, selling a luxury property quickly is purely due to luck and timing—not price or exposure.
AHEAD OF THE CURVE: GOING TO AUCTION
WE CREATED A NEW CATEGORY, DOMINATE THE SPACE, AND SET THE STANDARD. OUR DIRECTION: FORWARD — OUR SPEED: FAST — OUR MINDSET: FOCUSED.
WE ENCOURAGE PROPERTIES TO BE LISTED WITH A TOP BROKER/AGENT, BUT IF THEY HAVEN’T SOLD BETWEEN 90–180 DAYS, IT IS TIME TO TAKE ACTION.
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ANALYSIS
Our seller vetting process is something we take very seriously. We typically accept one of every 20 properties that come our way, and our buyers know they are bidding on the best inventory available in the world. Our sellers are well-capitalized and are looking to utilize our platform as a business decision with a time certain date of sale. Our in-house sales team will analyze key attributes of each opportunity including the location, aesthetics, broker partnership, and seller disposition.
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PROPOSAL
qualified properties to address any questions, and drafts a proposal with the specific terms of sale.
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AUCTION MARKETING AGREEMENT (AMA) Our sales team works closely with sellers of
Once accepted, the auction agreement is drafted, reviewed, and signed. Then, we’re off! Our teams will begin preparing for launch day.
