Vail, CO (April 2009) – The option of selling a home via an auction format has gained in popularity significantly during the past several years (according to the National Auctioneers Association, the home auction business has increased by more than 46 percent since 2003), and it is now finding its way into mountain resort towns. Slifer Smith & Frampton, the Vail Valley’s and Summit County’s premier real estate firm, has implemented an “auction program” option for their clients, with the first auction planned to take place this summer.
“We’re constantly vigilant of ways to help all of our clients buy or sell their mountain home, and the auction process has become a very viable and respectable option in recent years,” said Jim Flaum, president of Slifer Smith & Frampton. “We’ve done an incredible amount of research regarding the auction process, and it provides tremendous benefits to everyone involved in regards to time, accessibility and fair market value. It also helps firms drive sales and better accommodate our clients.”
Rod Slifer, a founding partner of Slifer Smith & Frampton, added: “The traditional methods of buying and selling homes are still successful, but we’re implementing a new process that will give everyone another option. We’re a company that has always prided itself on ‘thinking outside the box’ and presenting our clients with ways to buy and sell a home.”
Some of the key benefits of holding an auction, as defined by Slifer Smith & Frampton, include:
o Regardless, of what the property value is when holding an auction, if the number of transactions has decreased, and there's a disconnect between sellers' and buyers' expectations, an auction is a great way to find out what the true market value is for a property at the time of the auction.
o Real estate auctions used to be thought of as a sales method of last resort for residential properties in distress. However, that is no longer the case. Auctions can be an effective marketing tool in both strong and soft real estate markets.
o Slifer Smith & Frampton Real Estate (SSFRE), has identified the growth in the Real Estate Auction business and we believe that with our Marketing expertise, we can provide Sellers with a proven format to get a sale done at a specific time, with a specific closing date, with no contingencies from auction to closing. Implementing an auction marketing strategy in a small time period requires a competent support staff, speed, precision, skill, and a high degree of organization for scheduling and coordination. SSFRE has the organization and experience to accomplish such a task.
o The auction process may not be suitable for all properties. It is important for the seller to commit to this process, and if our analysis of the seller situation, the characteristics of the property and current market conditions all are positive towards holding an auction, then we should expect to have a successful real estate auction.
For additional information on the auction sales program at SSFRE, contact Ric Souto at 970-845-2300, or toll-fee at 866-677-8380 or via email at rsouto@slifer.net.
Slifer Smith & Frampton has been the most trusted name in Colorado real estate for over 45 years.