Marketing Your Auction
The Marketing Plan is the centerpiece around which the entire auction process takes place.
We know from experience that the proper audience mix is critical on auction day. That is why we use a two tiered "Shotgun" and "Rifle" marketing and advertising approach to target potential buyers on all levels.
The "Shotgun" approach is intended to reach a wide variety of the buyer population and involves the following:
Print Media Advertising:
We place ads in any combination of local, regional or national newspapers and magazines dictated by the property type, value and marketing budget.
These ads will direct the reader to contact us for printed materials and will direct them to our website which will contain auction details, property information including photos.
The timing of these ads are 7-14 days prior to auction date.
Trade Publications:
Our membership in the Ohio Auctioneers Association and the National Auctioneers Association allows us to place your auction in their auction ads which reaches thousands of potential buyers across the state, across the country and beyond.
Proper timing and placement of advertising is essential in reaching your audience in a timely fashion. Our goal is to have these ads in place at least one month prior to the auction date.
Signage:
One of the most vital ingredients in auction advertising is the strategic placement and timing of signs. Signs go up approximately 3-4 weeks prior to the auction date.
Our "Rifle" approach to marketing and advertising is more focused and involves the following:
Direct Mail and E-Mail Brochures/Flyers/Postcards
A graphic artist designs the layout for our brochures, flyers and postcards ensuring that the final copy will be eye catching and capture the property's physical features.
All mailings are scheduled to arrive at least 7-10 days prior to the auction date.
Mailing lists:
We use our exclusive mailing list of past Buyers and potential Buyers as well as other proprietary sources.
Inspection Periods
During the marketing period inspections or open houses are set at prescheduled dates as well as by appointment. Our knowledgeable staff is on site to answer any questions and to help new buyers become better acquainted with the auction process.
Bidder Information Packets
An important aspect in commercial real estate auctions is the creation of a sales prospectus. Given the compressed time frame associated with an auction, buyers are rarely able to complete enough of their own due diligence to formulate a bid. Therefore, we provide each bidder with a packet containing all the pertinent information about the property including photos, demographics, a copy of the tax bill, the deed, the purchase agreement, etc, all designed to aid the buyer in making an intelligent bid at auction.
Internet:
Our internet marketing effort is geared towards driving the buyer traffic to our company web site. Everything you need to know about the property and the auction is located here. Also available is the ability to take each visitor on a virtual tour of your property through a professionally produced slide presentation with captions. This extra service is recommended for higher priced properties.
You can see why the Marketing Period is the single most important component of the auction process.
Marketing costs vary according to each property's type and value but are typically one half percent to two percent of the projected sales price and are paid by the Seller up front.
