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Below is a breakdown of the three phases you will experience when selling your property at auction.
Timeline
DAY 0 Your Auction Services Agreement has been received! Now we are ready to begin. DAYS 1-7 Your Auction Marketing Campaign has been launched. Your property details and photos on williamsauction.com have been posted. Your Auction date has been scheduled. Auction signs have been placed on your property and at key intersections. A title review on your property has begun. DAYS 7-15 Your custom Auction Marketing Campaign continues. Your open inspections will be scheduled. Prepare your property for scheduled viewings. DAYS 16-29 Your custom Auction Marketing Campaign continues. Open inspections at your property will be hosted. We analyze and adjust marketing based on response rate. DAY 30 Auction day is here. We arrive two hours prior to Auction to open for final viewing. Our expert Auction team arrives to prepare for the event. Bidders compete live at your property and online to buy. The High Bidder signs contract and pays the down payment. We coordinate the closing process. You begin packing for your move!
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Considering selling your home through auction? Like with any big decision, you will want to weigh the pros and cons. To assist you, we've pulled together a comparison of Williams & Williams Live Home Auction versus a Traditional Home Sale. | | Williams & Williams Home Auction | | Traditional Home Sales | You Pick Your Sale Day.
Our auctions are held within 30 days of listing. Now you can move on. | | | Your Property Sells When a Buyer
Decides to Buy.
In today's economy, properties stay on the market for almost a year or more on average. | | You Pick Your Closing Day.
Our sales generally close within 30 days
of auction.* | | | The Buyer Negotiates When to Close.
Closings can be delayed for multiple reasons and can extend for 45 days or longer. | |
We Provide Sales Strategies to
Best Suit Your Needs.
Are you aggressive, moderately aggressive
or risk averse? You select the best sales strategy to suit your style. |
| | It is a One-Size-Fits-All Approach to Your Sale.
It's selling your property the way it's always been done. Your Agent will list your property in MLS, tell other agents about it, put an ad in the local home sales classified and wait for potential
buyers to call. | | Reduces Costs Related to Paying For the Home You Want to Sell.
Selling your property within 30 days reduces continued costs of mortgage payments and property maintenance. There are no further financial obligations after closing. | | | Cost of Waiting to Sell Can be Substantial.
Mortgage, insurance and maintenance costs can mount while waiting for the right buyer and during elongated listing, escrow, and closing periods (see cost of waiting calculator on home page). | | Buyers Compete to Own Your Property.
Competition forces buyers to bid their highest and best offer. |
| | Buyers Make Offers Without Incentive to "Out-Bid" Other Buyers.
Lack of competition doesn't encourage buyers to present their highest and best offer. | | We Attract the Largest Possible
Pool of Buyers.
Our proven live auction strategy with the added convenience of real time online bidding opens your auction to the largest possible buyer pool and heightens the competition.
| | | One Buyer Submits a Stand-Alone
Offer to Your Agent.
It's difficult for you to know whether the offer being presented is a good value to you because it's a private transaction without competitive bids. | | Auction Sales are Final.
Our purchase contracts are "As Is, Where Is" and do not allow for any buyer contingencies such as financing, repairs, appraisal, or inspections. | | | Buyers Often
Negotiate Contingencies.
Repairs, buyer financing, and/or inspection contingencies are often expected. | | You are Our Client.
We represent only the seller and our goal is to maximize the sale of each property.
| | | Agents Often Represent
Both Buyers and Sellers.
The primary goal of your agent is to get the deal done with the actual sales price or value playing a secondary role. | | A Team of Marketing Experts
Works For You.
Our success depends on our ability to have consistently high sales performance. We apply precision marketing, using the most current data available and market your real estate locally-to-globally to attract interested buyers who will compete for your property.
| | | Your Agent is Your Marketing Expert.
Marketing is typically local and not targeted to specific buyers. Emphasis is placed on your listing in MLS, an open house and alerting other agents to your newly listed property. | | Sophisticated Sales Performance Analysis.
Full, detailed valuation prepared by experienced specialists based on thousands of data points and predictive price models. | | | Speculative Sales Analysis.
Listing price tends to be the highest combination of what you and your Agent would like your property to sell for and often results in price reductions or lower than expected offers. | | 100+ Years of Auction Experience.
There is an art and science to auction that delivers the best possible market value. Our expertise is based on four generations of world-class auctioneers combined with top talent from technology, media and real estate. | | | Varying Degrees of Experience.
It's pretty simple to secure a real estate license to become an agent. Gathering a century of real estate sales experience is very hard. | | Real Time Performance.
Our "Track My Auction" features let you monitor exactly how your property is being marketed and how many people are responding. You are never left guessing. | | | Your Agent will Keep You Informed.
You hope your agent will keep you up-to-speed on how your property is being marketed and how many people are interested in your property. | | | | | |
Please Note: Other commission structures apply for the sale of commercial real estate, distinctive and luxury properties, farms, ranches and land, and bulk portfolios. *Closing periods may be subject to delay should we encounter title issues or other problems with the sale that are beyond our control.
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Our live auctions, on average in 45 states every month, generate millions of data points regarding time-definite real estate sales. Analyzing this data gives us a deep understanding of sales performance across all types of real estate assets at auction on a market-by-market basis. This knowledge allows us to provide you an expectation for what your property sale will bring in 30 days.
As you consider selling your home through auction, you have a couple of auction strategies to consider:
Sell without Reserve (Absolute)
Sell with Assured Purchase Price
Auction Date:
30 Days from Listing
30 Days from Listing
30 Days from Listing
Close Date:
30 Days after Auction
30 Days after Auction
30 Days after Auction
Property Assessment Package*:
Not Required
$199
$199
Upfront Marketing Fees:
($1500 minimum required)
None
Approx. 1.5% of Reserve
Approx. 0.5-1% of Assured Purchase Price
Sell with
Reserve
Auction Date:
Close Date:
Property Assessment Package:
Upfront Marketing Fees:
Commission
Note: Seller will also be responsible for customary real estate closing costs
Other commission structures apply for the sale of commercial real estate, distinctive and luxury properties, farms, ranches and land, and bulk portfolios.
* The Property Assessment includes a visit to your property, interior and exterior
photos and an
in-depth analysis of your community and property in order to present various sales
options. This is a
one-time fee and does not obligate the seller in any way.
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There's a lot of competition in the home sales market today and that means it's harder than ever to get potential buyers to notice your house above all others. Traditional approaches to home sales promotion get lost in the crowd.
Williams & Williams follows a much more strategic approach to marketing to quickly get the attention of the people who are most likely to buy your property. We apply our retail marketing expertise to craft breakthrough strategies  to drive the performance of your auction. Utilizing the most advanced and scientific market segmentation principles, we determine the exact target market for your property and leverage our extensive database of buyers to deliver your sales message to the right buyers. We don't just focus on the local market; we market to target buyers no matter where they reside.
Our marketing campaigns feature a mix of marketing channels including signage, newspaper, direct mail, email, video, virtual tours, local retail distribution and williamsauction.com member marketing to drive interest in your property. We also drive awareness through geographically targeted keywords and banner campaigns, search engine marketing, personalized email, third-party websites, and social media postings.
Our results are impressive – More than 99% of our auctions enjoy competitive bidding and we have a 96% closing rate. We understand what it takes to motivate interested buyers to do their homework and show up on auction day ready to bid their highest and best offer.
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Deciding to sell your home by auction may seem a bit intimidating at first. That is why we’ve outlined a step-by-step process for what you will need to do to auction your home.
Prior to Auction From Listing to Auction Auction Day to Close
STEP 1 Prior to Auction This is not just another survey. This series of questions will save you time and energy as you explore the auction opportunity. Take Survey Your answers will help us to better understand you, your property, and your needs. One of our sales representatives will review your answers and will be well-prepared to discuss how auction might work for you. At the end of the brief survey you will have the opportunity to schedule a call or web chat with one of our representatives who will answer any questions you may have about your sales options or the auction process. Auction works best if we work with you to set the right expectations so there are no surprises. Depending on the sales strategy you choose, we may need to order a property assessment package. The cost of the comprehensive package is $199. View Sample Report
As part of the assessment process, we'll visit your property, take photos, complete a property condition report (PCR), analyze the market values in your neighborhood and conduct a limited lien search. We’ll run your data through our proprietary auction performance models to create your personal property assessment package. No matter your final decisions, this package, the digital photos, the PCR, and limited lien search are yours to keep without obligation.
Based on the answers you provided through the survey, one of our experienced sales representatives will walk you through your sales strategy options to determine which option is right for you.
STEP 2 From Listing to Auction Once you decide to sell your property through a Williams & Williams live auction, you will execute an Auction Services Agreement. This is similar to a Listing Agreement you would sign with a real estate agent. View Sample Auction Services Agreement
Williams & Williams marketing team develops performance-driven campaigns for every auction we conduct. Leveraging our retail marketing expertise and extensive database of buyers, we apply the most advanced and scientific market segmentation principles to determine the exact target market for your property and craft breakthrough strategies to drive the performance of your sale. View Sample Marketing PlanDepending on the auction strategy you choose, you may need to pay an upfront marketing fee. Your dedicated sales representative will discuss all fees and costs as they outline each option for you. If you do pay an upfront marketing fee, that amount will be credited toward the total sales commission at closing. Through our Track My Auction tool you will be able to track the progress of your auction marketing every step of the way so you know how your sale is being promoted and how many people are responding. View Sample "Track My Auction" page
STEP 3 Auction Day to Close
Live Auction: It’s Auction Day. The anticipation builds as our planning and marketing strategies culminate into the well-orchestrated event your sale deserves. There’s nothing like the thrill of a live, on-the-lawn auction… unless you double that thrill by adding potential buyers placing bids simultaneously, in real time, online! Two hours prior to auction: Our representative arrives to host the pre-auction open public inspection.
One hour to go: The auction team arrives and begins to register bidders and answer questions. The excitement grows as the crowd knows the time for auction is near.
Auction time: The auctioneer takes his place in front of the crowd and welcomes all who have gathered for the event, both on the lawn and on auctionnetwork.com. He reads the auction terms and conditions and the property disclosures for the record, and then answers any last-minute questions from bidders. The auctioneer announces the property address selling and… bidding begins! Bidding is fast and exciting as the auctioneer expertly conducts the event, acknowledging every bid, whether from the lawn or auctionnetwork.com. “High bidder!”: Once the auctioneer determines bidding has concluded, he announces “High Bidder” and the high bidder’s number. If the high bidder is onsite, a Williams & Williams representative begins working with them to prepare and present the contract of sale for signature. If the high bidder is on auctionnetwork.com, Williams & Williams will email a contract to the buyer and obtain an electronic signature for a quick and efficient transaction.
Signed, sealed, and delivered: If the high bidder is onsite, a Williams & Williams representative begins working with the winning bidder to prepare and present the contract of sale for signature. If the high bidder is online, we will email a contract to them and obtain an electronic signature for a quick and efficient transaction. Once executed, Williams & Williams also receives the 5% minimum down payment check, which is sent with the signed contract via overnight courier or electronically to our corporate headquarters.
Just like that, your property is sold!
After the auction the High Bidder will be contacted by Williams & Williams to outline the next steps in the purchase process. Our closing manager works diligently, maintaining constant communication with the buyer, title company and lender (if applicable) to ensure a timely closing. Your dedicated sales representative and project manager will be your points of contact through the process and, together with the closing manager, will work to create a smooth and successful transaction for all.
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