Estate Auctions vs Tag Sales At some point in many peoples lives, there comes a time when they have to deal with the difficult task of liquidating someones estate. Its at this point that the question typically comes up, should I use an auction or a tag sale? Both processes serve similar purposes, however, there are some distinct differences in the two that in our opinion make holding an auction the hands down winner. Similarities Both seek to sell the contents of an estate or home but that is pretty much where the similarities end.     Differences Auctioneers and Auction Companies are required to be licensed, bonded and insured and are governed by a licensing body to protect the publics interest. Typically, managers running tag sales have no licensing requirements of any kind and if you have a complaint about thier ethical practices or performance, tough, there is no one to take it to.  Most of them have had a successful garage sale and thought it would be fun to do as a living or supplement their retirement or daily job and only do it on a part time basis. Tag sales typically last multiple days. The merchandise is priced (tagged) by an individual or company managing the sale and on each day following the first, the prices are slashed typically by 25-50%. On the last day, once the sale is over, many times up to 30% or more of the merchandise has remained unsold causing the administrator of the estate to deal with the remaining goods. Often the manager of the tag sale will make an offer for everything remaining giving way to question whether items were over priced intentionally at the onset so they wouldn't sell. At an auction, the prices are set by the market based on bidding activitiy and an items worth will be determined by said activity thus giving way to a fair market value. Often emotions get involved in the auction process and bidders are not willing to stop until they get what they want causing items to excel far beyond anticipated prices. This can not happen at a tag sale as the price is set on the tag before the start of the sale and because of this, if an item is under priced for lack of knowledge, the estate is the loser. In most cases, the companies managing tag sales CAN NOT sell the real property for the estate wheras most auction companies who deal with estates also work in the real estate industry allowing them to sell the real estate at the same auction the personal property sells at.   The Real Estate can be protected insuring that it sells for market value or can be listed via the Multiple Listing Service at an agreed upon list price. If you are unable to attend an auction, in most cases, the auction company will accept absentee bids or phone bids helping to maximize the return for the estate. Again, because of the nature of the tag sale, this simply won't happen.  You will pay a commission based on sales to both the auction company and the company or individual managing the tag sale. The difference is that often an auction company can charge a smaller commission to the estate than the tag sale company by charging a buyers premium to the successful bidders thereby spreading the burden of the commission out between multiple parties and relieving the estate of the full burden. DOWNFALLS TO A TAG SALE \t 1. 100% of the items will sell for NO MORE than the tagged price. 2. Upwards of 20% or more of the merchandise goes unsold by the end of the sale. 3. At times, items are under priced and sold to dealers, family or friends of the tag sale manager. 4. Regulation and licensing of tag sale providers is virtually non-existant in the U.S. and harmed Sellers only option is to sue in court. 5. Most tag sale providers lack the ability to market nationally and will not include the most informed buyers for rare and unusual items whereas the Auction Company has National Exposure and the ability to simulcast the Auction Live over the internet attracting Buyers from all over the Country. 6. Many tag sale service providers lack the expertise to price the merchandise appropriately. 7. Some unethical service providers will overprice the high end items leaving them unsold till the last day giving them the option to buy the items at a large discount or to sell them off to friends and family at a significant discount. For Additional Information feel free to call "The Auctioneer" himself...  Troy Watts at 316-683-2855 ...read more

8 Reasons to Sell Your Home During the Holidays Will your home be one of the over 1,500 homes SOLD this winter? Wow!  If you listen to everyone out there, you’d think that no one sells or buys a home during the holidays. Obviously, that’s not the case. Housing market statistics show that homes do sell during the months of December and January, just not as many as other months of the year.   So why would anyone want to list their home during the holiday season vs. waiting for spring? Here are 8 good reasons to list your home for sale during the holidays. Fewer Homes on the Market This Time of Year Means Less Competition For You Buyers This Time of Year are Serious Buyers (Relocation, their home sold, etc) The Best Agents Continue to Work During the Holidays December and January are the Busiest Time of Year for Corporate Relocation If it Does Not Sell During the Holidays, You are Ahead of the Others in Early Spring Your Home Doesn’t get Lost in The Spring Shuffle Your Home Looks Great This Time of Year all Decorated Buyers are More Courteous and Sensitive to Scheduling Appointments Home buyers this time of year are serious. During the holiday season, the “looky loo buyers” take a vacation from house shopping. Serious buyers that are still in the market include those relocating to the area and those whose home has just sold. They HAVE TO buy! Just remember the basics. Have it well priced. Make sure it is in good condition. Know that you need a strong marketing plan in place to get the word out. And do what you can to make it accessible to potential buyers. With these things in place, you are more likely to have a sale, and you are not competing with all of the homes that will be put on the market in the spring.  Doesn’t it hurt to have my home on the market that long? Odd as it sounds, no. By the beginning to the middle of February, if the home hasn’t sold, let the listing expire for one day. Then immediately RE-LIST it the next day with new photographs, fresh flyers and new descriptions. Not only does it re-set the Days On Market (DOM), it will also appear like a totally NEW LISTING! There you are, just in time for the early spring market before everyone else has put their home up for sale. If your home doesn’t sell over the winter, there is a huge advantage to being on the market in early spring before everyone else. Buyer activity always shoots up a month or two before the stampede of folks who put their home on the market in the mid to late spring. Since there are fewer homes on the market that time of year, those with their home already on the market, have buyers with spring fever flooding through their house and making offers.  You need to ask yourself a question. If a buyer came up today and offered you what you’re asking (or close) …… Would you take it? If so, then your home needs to be for sale. If not, don’t list it. If you decide you want to sell, expect activity to be slower and don’t be overly anxious or desperate. Do have your home available in case the “right buyer” comes along. You never know. Remember, if your home is not on the market,NO ONE can buy it.  Happy Holidays and Happy Selling! Mike Grbic Mike Grbic Team Realtors, Inc Coldwell Banker, Stucky & Associates ...read more

We are committed to fast accurate service. ...read more