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Seller Faqs [ Espanol ] [ Chinese ]

Why should I sell my property using the Auction method?

To accelerate the sale of your property by generating additional consumer interest and activity. Non-contingent contract and thirty-day settlements are required of all buyers of Auctioned properties. This means a quick transaction for you. The National Auctioneers Association estimates that Real Estate Auctions will exceed $200 billion in 2008!

I am not in financial trouble, and I’m concerned what people might think if I should do an Auction. Can you give any insight on this?

You are not alone in your concerns. Many people are afraid of the old, outdated perception of Auctions that some people have. There are great differences in the marketing - and the public’s image - of a voluntary Auction vs. a foreclosure trustee sale. Our Auctions are positive enthusiastic events designed to generate competitive bidding to secure the highest possible market price for your property.

Do you inspect the property to determine the best method of Auction?

Yes! It is very important for our Auction staff to be totally familiar with your property. This helps us represent your property in the best manner possible.

The property is priced below the market right now. What is it going to mean if I register it for an Auction?

Often times we find that the price is not the issue in why a property hasn’t sold. The primary cause for it not selling is there has not been adequate traffic and, therefore, sufficient interest in the property. In other words, it has become “stale” on the market. The Auction process is the best way to revive interest in the property and instill excitement that will result in a positive sale.

What types of property do you sell at Auction?

We Auction all types of real estate, i.e., Single Family Homes, Condominiums, Townhouses, Farms, Land, Vacation Properties, Commercial and Investment Properties. We also conduct Estate Auctions and Business Liquidations.

Where will the Auction be held?

We hold most auctions on site when focused on a single property. Our multiple property auctions are held at a hotel or convention hall.

Am I obligated to sell to the highest bidder?

You may reserve the right to accept or decline the final price offered at the auction.

Buyer Faqs [ Espanol ] [ Chinese ] [ Bidder Registration Form ]

How does the auction work?

Go to the website: www.auctionexchange.biz and click on the auction calendar to find out when and where the next Auction will be conducted.
Identify the property(ies) of interest to you. Each property will have pictures, virtual tours, maps and relevant documents and disclosures.
Visit the properties you would consider bidding on before the auction. Your “due diligence period” is before the auction. This is your opportunity to inspect or have an inspection and/or appraisal done. Our auctions are “as is” and are not contingent upon inspections, appraisals or financing. So get whatever information you need to be confident in bidding on the property(ies).
Register to bid. It is easy and it is FREE. You can register online or in person the day of the auction. We encourage you to register in advance online. That way, we can notify you of any changes affecting the property(ies) that interest you. You must register to bid. You can also register as an “online bidder” at www.auctionexchange.biz.
Day of Auction. Check in at the registration desk to receive your bidder card. The bidder card will have your bidder# on it and will identify you as the successful high bidder. There will be auction staff there to answer any questions and the Auctioneer will explain the whole process and give examples before the auction starts…so come early. In any case, after observing for a few minutes, you will understand how easy it is to bid…just raise your bidder card up to maximum amount you want to bid. You name your own price at auction!
Finalizing your bid. Once the Auctioneer declares you as the successful high bidder, an auction agent will approach you to sign a bid acknowledgement and collect your deposit. Once you are done bidding, you must go to the closing table or closing room to complete the sale.

What is the Buyer’s Premium?

The buyer’s premium is a percentage added to the high bid to determine the sales price. Charging a buyer’s premium is a standard practice in the auction industry. An example of how it is applied; if you are the high bidder at $100,000 and the buyer’s premium is 10%, then your buyer’s premium is $10,000; added to the high bid is the final sales price of $110,000. If the deposit required is 10% of the sales price, then the deposit is $11,000. The total due the day of the auction. Check out the “Terms” for each auction. The terms can be found on the auction brochure and on the Auction Exchange Int’l website.

Am I required to purchase with Cash?

No, you can finance the balance of the sale after your deposit. However, the auction sales are “as is” and “final”. You must close escrow in 30 days or possibly lose your deposit. If you are financing, you should be pre-approved before the auction and be certain your lender can close on time. Auction sales are not subject to your ability to finance. While the auction company does not provide financing, we can provide you with financing sources.

Will the title be free and clear?

Yes, at close of escrow you will be conveyed a deed, free and clear of any liens.

Realtor Faqs [ Broker Participation Guidelines ] [ Broker / Seller Form ] [ Broker / Buyer Form ]

Why should I introduce my client to the Auction method?

To accelerate the sale of your listed property by generating additional consumer interest and activity and to develop new buyer and seller leads for yourself.

Are all properties suitable for Auction?

Most properties, but certainly not all are saleable by auction. Residential property, commercial property, vacant land, even ranches are sold at Auction. The majority of sound developments that can be marketed effectively do extremely well.

Is there any incentive to the Listing Associate for referring a property to Auction?

Yes! In addition to keeping the listing, there is great potential for the Listing Associate to develop new buyers and seller leads as a results of the activity the Auction generates.

As a Listing Associate, how will I be compensated?

You will receive a (%) of the listing side based on the Auction High Bid Price. Auction Exchange International pays your commission, not the seller.

Does everything sell at Auction?

No, not everything sells at Auction. Anytime there is a fixed dollar amount associated with the property there is the risk that it will not sell at Auction.

What is the first step in introducing the Auction idea to my seller?

Schedule an appointment for you and the Seller to meet with the Auctioneer.

Who will present the details of the Auction to my seller?

The Auctioneer will accompany you and will present our Auction program to your sellers. As you can see, it is very different from traditional Real Estate and it does require a detailed presentation to the seller.

What is the process to register a buyer or a seller?

You must complete a broker co-op form and comply with the terms of the Broker Participation Guidelines. Do not hesitate to call the auction office if you have any questions or need these forms.

Builders / Developers Faqs

Why is Auction the best process for Builder Close-Out?

An Auction Event will attract qualified buyers and investors exposing the entire project and creating the competitive bidding environment needed to bring the highest market value for your Close-Out. Any standing inventory would be better sold at Auction!

Our project is financially sound. Will the Auction process be perceived as if our project is distressed?

We understand these concerns. Many people are afraid of the old, outdated perception of Auctions that some people have. There are great differences in the marketing - and the public’s image - of a voluntary Auction. Our Auctions are positive enthusiastic events designed to heighten consumer interest. It is all in the way the event is marketed. Let us share some techniques with you about how to have a successful Auction event.

Our goal is to create competition that will capture highly motivated buyers for your property in a short period of time…you know the exact day and time your units will sell and close. This saves you carrying cost due to longer marketing time with conventional real estate.

What does it cost?

Generally, you will find it much less costly than the excessive buyer incentives and realtor coops you may have considered in the past. The terms and conditions are determined by you, given several options. The effort is in finding the delicate balance between what strategies bring the most buyers and investors and which strategies reduce your selling costs. Once that is determined, the initial cost will be based on the marketing program. Auction Exchange will fulfill the marketing segment as well as the auction process. Our representatives will consult with you to determine the best strategy and the exact cost. You may be surprised.

Do Auctions usually bring less than market value?

Not really. However, this is the healthy perception of the buyers. Desirability and competitiveness can bring full market value and even, in some cases, exceed it. Minimally, the process will reveal where the buyers are in the current market with respect to your project.

If you are a builder interested in selling your remaining inventory in an auction environment,
please contact us at info@auctionexchange.biz or call 702-953-5805.

Bank REOs

Auction Exchange International is a real estate auction company, based in Las Vegas, Nevada. We are able to auction your REO inventory in most of the western states, namely Nevada, California and Arizona. Our marketing efforts reach far beyond local advertisement in that we specialize in global marketing. We have spent the time and money researching and defining our foreign buyers and the dynamics that attract them to buy in our markets.

Our primary goal is to bring excellence in service to you through the auction method of marketing and selling, with full utilization of today’s technology. We are excited about the opportunity to put our entire organization of auctioneers, auction agents, marketing representatives, and technicians to work for you. You have our commitment to create a competitive bidding environment that brings top value. Our reputation depends on it and you can depend on us.