Hybrid Real Estate Approach
A hybrid auction is a combination of a traditional property selling program and an online auction selling program.
Hybrid auctions can increase exposure for both the seller and vendor.
Auctions can also have benefits for the seller, such as:
- More control over the sales process
- Less hassle
- Bidders compete for the property and bid upward with their offers
- Bidders are registered to bid and pre-qualified to participate in the auction
- Sellers are able to set their minimum selling price
- Sellers have the ability to accept or reject any offer, at any time, during the bidding process.
Online auctions allow sellers to reach larger audiences, in different locations and geographical areas. I offer an online real estate auction that uses state-of-the-art online bidding technology to make real estate transactions less cumbersome and more cost-effective for all parties.
My Unique Hybrid Real Estate Approach
Since I am a licensed Real Estate Agent as well as a Certified Real Estate Auctioneer, I can bring a unique approach to selling your real estate – in a timely manner that will maximize results.
How many stories have you heard of people listing their property with a real estate agent, only to be in the same place they started six months later?
Through my unique hybrid approach, I can offer to sell your real estate property through a traditional way and combine it with the auction selling process – at the same time!
Your property will have greater exposure to potential buyers when using our Hybrid Auction Selling Platform. I will set a date for an auction, indicating what your minimum acceptable bid is.
Yes! You tell me your minimum accepter price and you do not have to accept any offer that does not meet your minimum set price!
I will simultaneously list the property on a local area MLS and market it through other auction bidding platforms, including our own platforms… giving your property greater exposure to potential buyers. And even better… in an auction selling process… the bidders are always bidding up the price on your property… not downward, as potential buyers tend to do in traditional real estate!
By making our potential bidders aware of doing this, buyers have an opportunity to purchase the property immediately, under a “buy it now” price that we establish together.
Even better… we keep our sellers in control by allowing them the ability to accept of reject any offer at any time during the bidding process. We have found that when bidders are made aware of this… that they will make higher bid offers, helping to reach you selling price much faster!
No more waiting in six month increments for your property to sell!
My use of this hybrid approach will result in many success stories. In some cases, it may be better to sell your property through conventional means. In other cases, our auction selling program may be better.
It starts with an interview to lean more about your needs and allowing me to work together with you to get the highest price for your property.
Through this hybrid method, I feel that sellers will be able sell their property at tens of thousands of extra dollars beyond what you had expected to receive or would have accepted.
The New Possibilities for Hybrid Auctions and Why we feel that we are your best source for selling your property!
- Buyers and vendors increasingly drawn to the benefits of hybrid auctions
- Hybrid Auctions introduce new benefits to agents and auctioneers too
With prices cooling, clearance rates easing and the market beginning to favor buyers, some agents are questioning whether auctions are still the best strategy. The answer in many cases is a definitive ‘yes’, according to Terry Jenkins, owner of the Jenkins Real Estate Auctions LLC, when you factor in the benefits of a hybrid auction.
Popularized through necessity during lockdown, hybrid auctions are now accepted as a natural extension to the real estate sales landscape by making properties easily accessible to more people.
But not all hybrid auctions are created equal and platforms which unlock additional benefits can generate better outcomes for buyers and vendors – and agents.
“It’s the new reality. Not everyone is comfortable being a player in the theatre of an auction, but phone bidding is disjointed and bidders can’t follow the flow of the action. Hybrid auctions enable anonymity without compromising on the auction day experience, so people don’t miss out on the insights that experience provides,” Jenkins says.
“They also remove physical barriers as people can bid ‘online or on lawn’, meaning buyers have a broader selection and vendors benefit from greater competition.
“These advantages of hybrid auctions are established. They supported buyers and vendors through the pandemic. But leveraging these advantages has enabled hybrid auctions to evolve further and now agents and auctioneers are reaping the benefits too,” he says.
For instance, the Hybrid Auction model introduces new levels of transparency to the process. Every bid is visible, so all the other bidders know who holds the highest bid. However, the bidder’s identity remains anonymous. Further, as the action is captured live, there’s no discrepancy in the bidding.
Pre-registration is another key advantage of the Hybrid Auction model. Buyers can register and be approved by the agent prior to the auction, providing the agent and seller with advance notice of intending bidders. This saves the hassle of “on the day registration” and means the buyer can use the same registration for multiple properties for multiple agents.
The home selling program that we offer, also enables the agent and auctioneer to gain insights into the optimum auction day strategy, as well as expediting the transaction by auto-populating the successful buyer’s details to a digital contract, so that within 10 minutes of the hammer falling, the buyer’s deposit is in the vendor’s nominated account.
Interested buyers must simply register. They might be very keen on the property, they might be dipping their toe in the market, they might be a nosey neighbor from up the road. But by merely registering, agents using our Hybrid home selling program will have the self-registration details for those people to become part of their database and one of their prospects.
“Instead of having 150 people in the crowd and four registered bidders, you instead have potentially hundreds of people watching an auction online and all of them are now on your database.”
Agents can invite people on their database to watch the auction unfold… highlighting the advantages they could offer those potential customers.
There are also compelling admin benefits to agents. “For a small agency, the administration of auction day is a headache that is now done seamlessly. Contract signing and exchange is all done online. Pencil reports of the auction progress and full summary of bidders and followers, provides great record keeping and completes the digital property file for compliance.”
And for agents in more remote locations, for whom securing the industry’s best auctioneer talent is a challenge, the platform removes this logistical headache.
The same goes for buyers.
“People interested in a particular property to be offered at auction, who think they’re best offer will be around the mark, are unlikely to travel hours to participate in an auction for a property they could just as easily miss out on. Hybrid auctions mean removing this barrier to more bidders.”
“Online or ‘on lawn’, buyers expect and deserve a consistent and smooth experience that ensures a level playing field so they can in turn put their best foot forward. Our Hybrid Auction platform levels the playing field for all bidders.”
Hybrid Real Estate Approach
A hybrid auction is a combination of a traditional property selling program and an online auction selling program.
Hybrid auctions can increase exposure for both the seller and vendor. Auctions can also have benefits for the seller, such as:
- More control over the sales process
- Less hassle
- Bidders compete for the property and bid upward with their offers
- Bidders are registered to bid and pre-qualified to participate in the auction
- Sellers are able to set their minimum selling price
- Sellers have the ability to accept or reject any offer, at any time, during the bidding process.
Online auctions allow sellers to reach larger audiences, in different locations and geographical areas. I offer an online real estate auction that uses state-of-the-art online bidding technology to make real estate transactions less cumbersome and more cost-effective for all parties.
My Unique Hybrid Real Estate Approach
Since I am a licensed Real Estate Agent as well as a Certified Real Estate Auctioneer, I can bring a unique approach to selling your real estate – in a timely manner that will maximize results.
How many stories have you heard of people listing their property with a real estate agent, only to be in the same place they started six months later?
Through my unique hybrid approach, I can offer to sell your real estate property through both a traditional listing and an auction selling process – at the same time!
Your property will have greater exposure to potential buyers when using our Hybrid Auction Selling Platform. I will set a date for an auction, indicating what your minimum acceptable bid is.
Yes! You tell me your minimum accepter price and you do not have to accept any offer that does not meet your minimum set price!
I will simultaneously list the property on a local area MLS and market it through other auction bidding platforms, giving your property greater exposure to potential buyers. And even better… in an auction selling process… the bidders are always bidding up the price on your property… now downward!
By making our potential bidders aware of doing this, buyers have an opportunity to purchase the property immediately, under a “buy it now” price that we establish together.
Even better… we keep our sellers in control by allowing them the ability to accept of reject any offer at any time during the bidding process. We have found that when bidders are made aware of this… that they will make higher bid offers, helping to reach you selling price much faster!
No more waiting in six month increments for your property to sell!
My use of this hybrid approach will result in many success stories. In some cases, it may be better to sell your property through conventional means. In other cases, our auction selling program may be better.
It starts with an interview to lean more about your needs and allowing me to work together with you to get the highest price for your property.
Through this hybrid method, I feel that sellers will be able sell their property at tens of thousands of extra dollars beyond what you had expected to receive or would have accepted.
Terry Jenkins – Realtor / Auctioneer
CREA – Certified Real Estate Auctioneer®
Jenkins Real Estate Auctions LLC
Entity No. 202358616912
Formed In CALIFORNIA
Registered: State of California Secretary of State
Surety Bond Auctioneer/Auction Company
Bond Number 387770D
916-588-0067
