FREQUENTLY ASKED QUESTIONS ABOUT OUR WORLDBID AUCTION PLATFORM
1. What do you charge to sell my property?
As the seller, you pay ZERO commission; the buyer pays it. Traditionally, sellers pay 5-6% in real estate commissions to sell a property. At Braun, we charge no commissions and take
no salary for our effort. Your fee may be limited to the marketing costs necessary to expose
your property. In other words, every dollar we spend is spent to advertise and promote your property.
2. How long does it take to market my property and conduct the auction?
BRAUN’s marketing campaigns are most effective over a 75-day period culminating with the
auction. However, we tailor our marketing program to each property and situation. In addition, we offer 30 and 60-day marketing programs if necessary or deemed beneficial to the client. When the gavel falls, it’s sold.
3. How fast can we close?
Closings can take place the day of the sale. Typically, however, Braun performs 30-day closes without contingencies.
4. Can i sell my property without contingencies?
Yes. BRAUN sells all properties “as-is” and without any contingencies whatsoever.
5. What are the two types of auctions?
Reserve and Absolute. In a reserve auction, our expert senior appraisers will collaborate with you to determine the reserve price of your property. If the bidding does not reach the pre-set price, then you have no obligation to sell your property. A reserve auction allows the seller the comfort of said reserve price combined with the opportunity of highly competitive bidding.
In an absolute auction, the property is sold to the highest bidder for the highest price. It’s
a proven fact that this method offers the greatest possibilities of generating more bidding
and more money than any other option available to sellers today. Because of a perceived
“opportunity” by buyers, more buyers show up. This is a one chance, one time opportunity.
6. What if the highest bid is not satisfactory to me?
In a reserve auction, the seller has the sole discretion to sell or not to sell his or her property. In an absolute auction, you may be surprised by the large number of bidders, and in turn, by the higher selling price.
7. How do I know what fair market value is?
BRAUN’s bank-trained, lender-approved, certified senior appraisers complete an exhaustive
analysis. Together with our marketing team and local experts, they determine what the auction sales range is.
8. If I am using a broker I like, but am not getting the results I need, what do you suggest I do?
We encourage — and welcome — cooperation with all brokers. Because most of our sales
combine the efforts of a local broker with our marketing campaign, we analyze each potential sale individually, and work with the property owner in making decisions such as how involved the broker should be.
9. If a broker brings a buyer to the auction, how are they compensated?
We believe a broker should be fully compensated for bringing a successful buyer to an auction, therefore, Braun pays the “buyer’s broker” commission directly. The seller pays nothing.
WHEN TO AUCTION
In particular:
1. When time is of the essence.
This includes properties that must be sold by a certain date, probate sales, trust,
bankruptcy, divorce, inheritance, and partnership dissolution sales.
In addition, properties with unique circumstances for which the seller wishes to be
relieved of any and all liabilities.
2. When you need an expansive marketing campaign to attract top dollar for your
3. When a transparent sales process is necessary for all parties involved
YOUR BRAUN MARKETING CAMPAIGN
To gain a better understanding of the breadth and depth of the
advertising, marketing and promotional strategies we develop for
our clients, here are some of the essential elements that will make
up your marketing campaign:
1. The Demographic/Business/Geographic Study
• Identifying the most promising demographic – who are the buyers?
• Target marketing to optimum geographic locales – where are the buyers?
2. Detailed Marketing Plan: The BRAUN 60 to 90 Day Marketing Blitz
• Custom-designed detailed color brochure
• Strategic e-mail/e-blast campaign
• Exploiting internet search engines to target buyers
• Using our proprietary database of investors, developers, hedge funds,
pension funds, etc
• Alliance with the most prominent brokers nationwide
• Direct telemarketing to buyers and brokers
• Online video tour of property and community
• Advertising in local and national publications (e.g. – Wall Street Journal,
the New York Times, the Los Angeles Times, the Business Journal and other
specialty magazines focused on the specific buyer demographics required)
• Using our strategic alliances with online listing services to attract a nationwide audience
Listing on local, regional and national Industrial and Commercial Listing Services
• Cable television advertisements
THE DAY OF THE EVENT
An enviable crowd has gathered on the grounds of the property. Others have tapped
into the event via telephone, the Internet or one of our representatives. The buyers
have been waiting for weeks to purchase this property. In their minds, they are going
to win. The auctioneer is warmed up and ready. All around, the energy and spirits
are high. The crowd quiets, only for a moment. The bidding begins. It’s just as we
promised — competitive and frenzied.
On the sidelines of the property, BRAUN’s title and finance representatives wait to meet
the highest bidder. They remain available on site to answer questions and provide all
the necessary services the buyer requires.
You receive the good news: Your closing will take place in as little as one day after
the consummation of the sale, and most common, in no more than 30 days with no contingencies.