I am curious about how your auction works.Our program is simply an easier and better way to
generate an offer. We level the playing field, eliminate the “Riff
Raff” and make the seller and seller’s agent’s job MUCH
easier.The property is exposed
for sale with all terms and conditions set in advance.The only term left to negotiate is the
sale price.In addition, the EMD
deposit is required within one business day, is a minimum of $2500 and is
non-refundable for any reason except if the seller does not provide clear
title (in our market that means the bank does not sign off on the deal).Once we have our solid “highest
and best” offer, the process is exactly the same as any other
transaction.We’ve simply removed
all the stress, liability and headache out of marketing and generating the
best offer for the property.
Do you have bank approval before you start the bidding?Not necessarily.Since our program is not essentially different than any other listing
method, whether we have bank approval or not varies just like any other type
of sale.Once the offer is
signed, then it progresses just like any other transaction. If it's a
short sale, it waits forever just like the others do.
Do you wait for a bunch of bids … is there a time
limit?Our program is very similar to Ebay,
with one great exception! When the end of our bidding time comes, the
sale does not close like a guillotine, cutting off bidders who might go higher, our proprietary system stays open to bidding until
the bidding stops. Then, when there has been no activity for several
hours, it closes the sale.
What makes
your program better than what I do?The benefit is in the approval process. The fact
that the competitive bidding process establishes a REAL market value instead
of the OPINION of value created by an appraisal or BPO, our results are much
more likely to be accepted than traditional methods. Another benefit is
in avoiding the tremendous hassle, headache and pressure of collecting, countering and evaluating multiple offers and
then having the liability of selecting the best one to present to the bank,
hoping that the buyer will stay the course and close.
MORE ABOUT THE ROSENAUCTION SYSTEM
WHY THE
ROSENAUCTION SYSTEM?
According to the NAR, 30%
of all real estate transactions will be completed using the auction method by
2010. They must have known this recession was coming!
The Rosen Family of
auction companies comprise
the oldest family run auction firms in the United States.
Most auction properties
are sold at large ballroom auctions events where bidders bid on a photo.
Rosen & Company auctions are conducted at the subject property or On-Line
and usually yield higher sale prices.
WHY
ROSENAUCTIONSYSTEM WORKS: True Market
Value. “It’s worth what someone is willing to pay for
it!”
Close deals faster and with less
hassle: Auctions level the
negotiating field. Everyone is bidding on the same terms and
conditions. The only difference is the price and the name on the
deed!
Make More Money: Because a Rosen Auctions more likely to
generate an unrepresented buyer, REALTORS can keep more of the commission for
themselves. Rosen & Company West’s pricing structure does not interfere
with the listing side of your commission.
Under/Unqualified or “wishy-washy” buyers won’t waste
your time and energy: Bidders at a
Rosen Auction are vigorously qualified and the terms of the sale
prohibit those who might get “cold feet” from buying, then backing out.
Especially in a short sale situation, these guys can ruin your whole
sale!
Improve your odds with the bank: Both as an REO or with a Short Sale, the results of a
Rosen Auction are more likely to be approved than traditional offer
generating methods because the results of a well executed auction are
generally considered a better measure of value than even several appraisals.
That’s why every court and government authority sells their assets only at
public auction.
Reduce Your Risk: With a Rosen Auction, issues of agency,
property condition and other representations that usually put REALTORS in
harms way are eliminated. All sales are as-is, using the appropriate
disclosures and waivers.
Need more? Contact Jay Rosen to answer all your
questions.
HOW REALTORS BENEFIT
FROM THE ROSENAUCTION SYSTEM?
Close deals faster and with less
hassle: Auctions level the
negotiating field. Everyone is bidding on the same terms and
conditions. The only difference is the price and the name on the
deed!
Make More Money: Because a Rosen Auctions more likely to
generate an unrepresented buyer, REALTORS can keep more of the commission for
themselves. Rosen & Company West’s pricing structure does not interfere
with the listing side of your commission.
Under/Unqualified or “wishy-washy” buyers won’t waste
your time and energy: Bidders at a
Rosen Auction are vigorously qualified and the terms of the sale
prohibit those who might get “cold feet” from buying, then backing out.
Especially in a short sale situation, these guys can ruin your whole
sale!
Improve your odds with the bank: Both as an REO or with a Short Sale, the results of a
Rosen Auction are more likely to be approved than traditional offer
generating methods because the results of a well executed auction are
generally considered a better measure of value than even several appraisals.
That’s why every court and government authority sells their assets only at
public auction
Reduce Your Risk: With a Rosen Auction, issues of agency,
property condition and other representations that usually put REALTORS in
harms way are eliminated. All sales are as-is, using the appropriate
disclosures and waivers.
Need more? Contact Jay Rosen to answer all your
questions.
I’M A REALTOR,
HOW DO I USE THE ROSEN “ON-LINE” AUCTION
SYSTEM?
Do what you usually do: Go ahead and list your client’s property for sale the
way you usually do. All you have to do is add the following to your listing
agreement: “[company & licensee’s name] may engage the services of Rosen
& Company West as a co-listing broker who will offer this home for sale at
public auction.” Then contact Rosen & Company West for a co-listing
agreement and get your broker to review and sign it.
Does a Rosen “On-Line” Auction have any Up-Front Cost?
Yes. Using our system to generate the
highest and best offer with reduced risk and effort costs only $250. A very
small fee when you consider the list services and convenience, as well as the
reduced risk and higher probability of an accepted sale. In addition, you can
collect that fee from your seller if you choose.
Need more?
Contact Jay Rosen to answer all your questions.
ROSENAUCTIONS AND SHORT
SALES:
A
Rosen Auction is a great tool for generating a bona fide buyer for your
client’s home and remove them
from the lasting troubles of a foreclosure. Because a Rosen Auction
generates a “true market value”, it is hard for bank loss mitigation officers to
justify not approving the short sale. The results of a Rosen Auction
represent the best they're likely to get. It's hard to say no!
Need
more? Contact Jay Rosen to
answer all your questions.
