|
Auctions
This proposal or quotation is the property of Sonneco Properties, Ltd. any final proposal to you will include data that shall not be disclosed and shall not be duplicated, used or disclosed -- in whole or in part -- for any purpose other than to evaluate this proposal or quotation. If, however, a contract is awarded to Sonneco Properties, Ltd. as a result of -- or in connection with -- the submission of this data, Seller shall have the right to duplicate, use or disclose the data to the extent provided in the resulting contract. This restriction does not limit Seller right to use information contained in the proposal if it is obtained from another source without restriction.
PROPOSED AUCTION MARKETING PLAN
Cash in on the Auction Boom
Sell in 45 Days
Where is - As is
No Hassles
No commission to the Seller
TABLE OF CONTENTS
-
Purpose Of Auction Marketing Analysis
-
Statement Of Auction Marketing Mission
-
Professional Auction Marketing Services
-
Proposed Type Of Auction To Be Conducted
-
Proposed Auction Date And Auction Site
-
Determination Of The Auction Marketing Budget
1. Auction Marketing Budget
2. Sample Budget
3. Notations To The Proposed Auction Marketing Budget
-
Proposed Auction Marketing Strategies
-
Cost To Seller
-
Critical Path Chart
The purpose of this Auction Marketing Analysis is to outline and define the basis of the professional auction marketing services of Sonneco Properties, Ltd
It is the goal and objective of this analysis to present data and information relative to the successful marketing and auction of your properties. Success will be the confirmation by contract and the commencement of the Sonneco Properties auction marketing strategic plan.
Return to Table of contents
Our mission is to prepare an auction marketing plan for the Seller which, once implemented, will inform a "targeted audience" of the specific Auction Event, inspiring them to attend and actively participate.
The retirements of each Auction Marketing Plan include:
1. Establishment of an auction marketing analysis and proposed auction marketing course-of-action.
2. Development of the auction marketing plan-of-action.
3. Execution of the auction marketing implementation program.
4. Preparation of auction marketing documentation.
Return to Table of contents
Sonneco Properties will provide professional auction marketing services to ensure the highest possible return and to ensure that all aspects of the property sold will bring the highest prices at auction.
A successful auction is successful because everyone responsible pays attention to the "details". Sonneco Properties pays attention to the detailed aspects of the auction marketing process and, depending on the needs of each specific project, will:
1. DEVELOP an auction "critical path flow chart" that sets out a complete list of tasks, deadlines, personnel assignments and management responsibilities.
2. DEVELOP a budget for the auction and all related events, including the auction site, on-site personnel (during inspections, auction and post-auction periods), advertising, promotions, literature, public relations, signs, auctioneers, bid consultants, travel, communications network, presentation and other support services.
3. DEVELOP and secure approval of all appropriate auction documents and coordinate their proper use and implementation.
4. DEVELOP an informational packet on the auction property that includes information on the real estate being offered for sale, such as projected taxes, historical financial data, site plans, and other relevant facts and materials to assist potential purchasers.
5. DEVELOP and establish a plan for the professional orchestration of the event so as to generate the greatest results.
6. DETERMINE the style of auction for the property to maximize the sales price.
7. SELECT the appropriate auction environment and supportive services.
8. SCREEN, select and train on-site personnel so as to maximize our involvement with each prospective buyer.
9. DEVELOP and execute a marketing plan to attract a specific segment of prospective buyers for the property being auctioned.
10. DESIGN and implement, as per the marketing plan, the signs, literature, advertising, direct mail campaign, public relations program and other supportive media to be employed in this auction.
11. ARRANGE financing alternatives to be available to qualified buyers.
12. DEVELOP and execute a "tracking system" for everyone who either inspects the property or registers at the auction, and maintain this database.
13. IMPLEMENT a telemarketing system whereby all qualified prospects are called personally.
14. PLAN and prepare the auction property for inspection, making sure that the property shows well.
15. ARRANGE for the "appropriate look" at the auction; that is, uniforms, refreshments, registration, etc.
16. ENSURE that all state and local licensing requirements are met.
17. SCREEN and recommend closing and/or escrow personnel for Seller's approval in accordance with State laws.
18. RECORD the auction on audio and/or video in order to preserve a permanent record for legal purposes.
19. DEVELOP and be prepared to execute a post-auction plan.
20. DESIGN a pre-qualification system for bidders attending the auction, and implement a method of ensuring the Seller and Sonneco Properties that the successful bidder will close.
21. ARRANGE for all support equipment necessary for the auction and contract signing room to be on hand, and in good working order.
Return to Table of contents
____________________
Return to Table of contents
Proposed Auction Date:
Proposed Auction Time:
Proposed Auction Site:
Proposed Closing Date: On or before , 200
Return to Table of contents
Many factors need to be considered in developing an Auction Marketing Budget. There are no firm rules, only established guidelines to follow. Each market segment is as unique as the product to be marketed. A Cost effective plan must be developed that maximizes productivity and the available resources of time, energy and dollars.
Once a budget has been prepared and deemed acceptable, it then serves the important function of being a guideline for the allocation of our resources. As the budget is the key factor in statistical referencing to projected and actual sales, it must be flexible to maximize both market trends and opportunities. The advantage of a prepared Auction Marketing Budget is in the ability to see and act upon these trends and opportunities with available resources.
An auction budget represents the amount of financial resources allocated to achieve the defined market goals. A guideline formula has been prepared to determine a Proposed Auction Marketing Budget:
PROJECTED AUCTION VALUATION multiplied by AUCTION MARKETING BUDGET PERCENTAGE (1% to 3% average range) equals PROJECTED AUCTION MARKETING BUDGET.
PROJECTED AUCTION MARKETING BUDGET $________
Return to Table of contents
The following Auction Marketing Budget and expenditure allotment analysis has been prepared as of _______, 2008. Changes, additions and deletions, alterations, modifications and corrections to the specifications will affect the cost (plus or minus). A final projection of estimated costs will be prepared and submitted for review on contract confirmation, prior to commencement of marketing and incurring of costs. The expenditure breakdown analysis that follows is an example and estimate of how the Auction Marketing Budget amount above might be allocated.
Return to Table of contents
|
Description of Auction Marketing Service
|
Dollar Amount
|
Percentage
|
Media Advertisement and placements
Design through implementation of media advertising and corresponding placements in local, regional and national media, as appropriate.
|
$____
|
____%
|
Promotional Literature and Mailings
Design, production and direct mailing of a "high visual impact promotional piece" to a defined, targeted market audience, photos, aerial photographs, supplemental property information packets.
|
$____
|
____%
|
Sales Promotion and Site Preparation
To include: signs, previews, refreshments, etc
|
$____
|
____%
|
Public Relations and Publicity
Preparation and distribution of press kits, releases, communications with pertinent media.
|
$____
|
____%
|
Video Production and Presentation
Preparation and production of a representative video presentation, and distribution of video for viewing by potential purchasers.
|
$____
|
____%
|
Direct and Telemarketing Services
Direct solicitation by auction representatives, follow-up communications with potential purchasers.
|
$____
|
____%
|
Direct and Out-of-Pocket Expenses
Travel and direct expenses incurred on behalf of this auction
|
$____
|
____%
|
Reserve and miscellaneous Expenses
Additional expenses not included above, or miscellaneous expenses arising during the course of the marketing process and/or auction event.
|
$____
|
____%
|
Marketing Coordination Services
Professional research, analysis, support and service-labor time incurred in the execution of the auction marketing plan.
|
$____
|
____%
|
|
|
$____
|
100%
|
Return to Table of contents
1. Marketing functions for this auction (as noted above) to commence so that the execution begins forty-five (45) days prior to the auction. We will also have a Project Manager for the event for the thirty (30) days prior to the auction, or as determined necessary.
2. If an area within the budget is not utilized to the extent indicated, it may then be allocated (in whole or in part) to another category or be placed in the Reserve Allotment to either be allocated at a later date or returned on completion of the project.
3. Auction Marketing Budget(s) are prepared with flexibility in mind and will be modified to meet the direct needs and objectives of the project, once under the production and implementation process.
4. Specific breakdowns and costs within each category will be prepared and submitted upon confirmation of the Marketing Plan.
5. Costs and expenses will be documented on the completion of this project and submitted with the final total auction marketing closing statement.
Return to Table of contents
We propose the following marketing strategies for the successful auction of the Seller's Property.
1. A Regional to National Coordinated Auction Marketing Campaign
We propose to coordinate a "targeted and defined" auction marketing campaign on a regional and national basis with specific positioning emphasis in major metropolitan areas where the defined audiences for this type of property are identified through our marketing research and analysis.
Our primary focus will be the "positive aspects" of this property. The secondary focus will include investment opportunities in prime locations.
2. Advertising and Public Relations
People within the targeted audience, already familiar with the property, may have little if any knowledge of the "opportunity" available to them at the auction. By promoting the Auction Advantage, we can maximize response and interest.
Advertising and publicity will be geared to reaching our "targeted audiences" of property users, investors, developers, and entrepreneurs.
Direct advertisements will appear in general news media, industry and trade publications (supported by press releases). Support advertisements will be placed in defined major metropolitan area newspapers and selected business publications.
3. High Visual Impact Literature and Direct Mailing
We will prepare a high visual impact auction buyer guide that will gain immediate interest on the part of the potential purchaser. The brochure will contain pertinent, descriptive and promotional information and the photographs of the property to be auctioned. This should inspire the potential buyer to take action, to view the property, and to attend the auction.
In addition, mailings will be made to "specific and targeted lists", obtained from reputable sources to target potential buyers. We will also mail to those persons requesting additional information when responding to other aspects of this auction marketing program.
We have consulted with the people who supply our lists for direct target marketing. They must build a new list to reach the proper prospects for this property at the local, regional and national level.
4. Direct Marketing and Telemarketing
We will conduct direct and telemarketing efforts to the targeted prospects and in response to specific direct requests. This approach brings the personal touch to the marketing effort that will be necessary and required to achieve success in this auction.
5. Video Presentation
We will develop and prepare a video presentation to include a detailed viewing of the properties. This video will be designed to build buyer interest prior to or following an on-site inspection. This video will be highlighted in promotional materials, and will be provided to prospective buyers on request at a nominal charge or on a no-charge basis as deemed appropriate.
6. Additional Marketing Strategies
We propose the following additional strategies as "possibilities":
a. On-site signage to stimulate local and visitor interest;
b. Auction Awareness previews to identify, pre-qualify and educate potential buyers; and
c. Special invitations to encourage broker participation.
On confirmation of the auction order (contract) and commencement of the marketing for this auction event, Sonneco Properties will develop specific, targeted campaigns for this project.
7. Broker Participation is Recognized
Return to Table of contents
The cost to Seller will be the expense of the marketing, advertising and promotion as outlined in Section F, to be advanced to the Auctioneer prior to implementation of the auction marketing plan.
A ____percent (____%) commission will be paid to the Auctioneer, upon closing, from the Seller's proceeds. In addition, a buyer's premium of____percent (____%) will be paid by the buyer to the auctioneer on the sale. The buyer's premium will be specified in the Terms and Conditions of the brochure and stated at the auction. The buyer's premium added to the purchase price will be paid to the Broker out of the Seller's proceeds at closing.
Return to Table of contents
Proposed Auction Date:______
WEEKS 1 AND 2:
Receive PROPERTY information
Set auction date, time and place
Draft initial marketing budget
Begin due diligence
Draft terms and conditions for auction buyer guide
Determine target markets
Begin market and media research
Begin initial advertising and buyer guide design
Arrange licenses and permits
Receive financing details
Order photographs
Order sign overlays
Draft auction fact sheet
Prepare site location maps
Draft narrative for video presentation
Research direct mail lists
WEEK 3:
Finalize and submit budget for approval
Formulate advertising and PR plans
Complete advertising and buyer guide design
Finalize video presentation
Continue media research
Receive photographs
Submit auction buyer guide draft for approval
Receive tax assessment information
Submit press release
Obtain approval and place signage
Finalize auction buyer guide
Arrange Auction Awareness Preview format
Begin advertising and buyer guide production
Contact media buyer
Begin print advertising
Print Mailing labels
Send approved buyer guide to printer
Send approved press release
Compile PR kit
Complete advertising production
Prepare supplemental property data
Begin Auction Awareness Preview arrangements
Select auction crew
Mail PR kits
Original draft of purchase agreements
Order auction event materials
Begin Auction Buyer Guide distribution
Begin video presentation distribution
WEEK 4 AND 5:
Continue Auction Buyer Guide distribution
Final draft purchase and sale agreements
Begin PR follow-up
Ship auction event materials
Distribute supplemental property data kits for potential purchasers
Hold auction Awareness preview
Analyze response
Submit call report
Begin telemarketing follow-up
Prepare auction announcements, buyer guide update
Finalize auction site set-up
Order Auction day security
WEEK 6:
Continue telemarketing
Continue PR follow-up
Continue distribution of supplemental property data
Receive advance bids, pre-qualify bidders
Receive and process broker/client pre-registration
Update property data for auction day
Coordinate with all parties regarding auction day responsibilities
Hold auction event rehearsal
Prepare auction day master book
AUCTION DAY:
Hold final preview/property inspection
Conduct auction
Receive earnest money deposit and signed real estate contract
POST AUCTION:
Compile and submit final reports to the Seller
Marketing response
Budget
Auction results
Track closing process for real estate
Prepare and distribute post-auction press release
Make sure Seller is completely satisfied that all properties have been sold and closed and there is nothing else left to follow-up on.
Return to Table of contents
For more information please contact us at the phone number or email address below.
|
|
|
|
|
|
Sonneco Properties, LTD.
3939 N Comotara
Wichita, Kansas 67226
TEL: (316) 838-5790 -FAX: (316) 634-2190
info@sonneco.com
Copyright © 1998 by Sonneco Properties, LTD.
All Rights Reserved
|
Sonneco Main Page
Auction Listings Page
Auction Main Page
Maximize Sales Prices!
Seller Benefits
Real Estate Auction Marketing Advantages
Auction Frequently Asked Questions
Tell us what you would like to sell at auction
|