The auction marketing of development projects requires skills that can only be achieved with years of experience in meeting the challenges by successfully handling many such auction types in the past. Development type auctions like the remaining lots or homes in a subdivision or condo inventory that has not been sold can be sold at an effective price much greater than the long term employment of sales forces or other costly marketing types of professionals. In development issues, the time value of money is paramount to having a profit at the conclusion of a sell out. When a developer selects Karlin Daniel & Associates to auction remaining inventories of properties, the experience level becomes the driving force of such auction events. The developer wants to avoid maintaining a sales force, prolonged periods of ownership of unsold units, insurance requirements, property taxes and monthly maintenance fees to the respective associations. The public auction sells all remaining product from the development or condo project in a single day and all holding expenses are avoided. The result is a much higher rate of return then what is typically achieved after a prolonged effort to sell in a way that may be perceived by some as a more traditional way of disposal.
Karlin Daniel & Associates understands the benefit of having an event that not only sets the stage for good attendance but more importantly is capable of utilizing the strategies only achievable through a public auction format. We have conducted public auctions selling developmental property where our transaction count for the single auction day has totaled more than 700 parcels of real estate and our attendance record has reached around 2,500 attendees.
When you have inventories of product and need to become efficient and not experience the holding costs that clearly prevent any opportunity for profit, cut your losses and experience the benefits of a complete and total sell out of your developmental holdings. You’ll be glad you did.