What are the costs of selling real estate at auction?
Every real estate property is different and every consignor is different! No two real estate properties are alike and no two consignors are alike! For these simple reasons, the costs of organizing, advertising and conducting a real estate auction through Southside Auction Co. and Smith and Smith, Realtors will vary. Southside Auction Co. and Smith and Smith, Realtors work on a commission basis. Other costs to the customer, such as advertising costs and preparatory work prior to the date of sale, may be applicable.
Certain residential and commercial properties need some "quick fixes" prior to the scheduled date of the auction to ensure that the properties look their best on the scheduled date of the auction. Personal property removal, re-location and/or liquidation at auction, interior and/or exterior cleaning, interior and/or exterior cosmetic repairs, lawn grooming and maintenance, etc. are only a few of the services that Southside Auction Co. and Smith and Smith, Realtors have had to organize and/or perform prior to the schedule date of the auction. Although real estate properties are sold in "As Is" condition when they are sold at auction, there are many times that a few quick fixes can help the sale price of home tremendously! Additional services such as the aforementioned and the costs of such services (in part or in whole) may be required by Southside Auction Co. and/or Smith and Smith, Realtors at the expense of the consignor. This is one factor that contributes to the fluctuation in the costs of selling real estate at auction.
Multi-media advertising such as newspaper ads, postcard reminders, E-mail & website advertising, radio and television ads (if necessary), etc. are important services that are regularly organized and/or performed by Southside Auction Co. and Smith and Smith, Realtors to ensure that every real estate property offered for sale at auction gets as much exposure as possible to the general public in Tulsa, the surrounding area and even across the nation! Advertising is a must in every real estate auction! In most cases, an "advertising budget" is established between the consignor, Southside Auction Co. and Smith and Smith, Realtors. In some cases, the advertising costs are to be paid entirely by the consignor. This is another factor that contributes to the fluctuation in the costs of selling real estate at auction.
Certain additional charges to the consignor may result from the paperwork that is required by Smith and Smith, Realtors. Like all Oklahoma-based real estate companies, Smith and Smith, Realtors have to abide by the laws and guidelines set forth by the Oklahoma Real Estate Commission (OREC) and the Greater Tulsa Association of Realtors (GTAR). Also, establishing a reserve price on a real estate property will usually result in additional charges by Smith and Smith, Realtors.
Smith and Smith, Realtors and Southside Auction Co. are two companies that have earned respect in the Tulsa community through their companies' honesty and integrity. Prior to every real estate auction, a meeting between the consignor, Jim Smith (the broker), Daniel Glossop (the real estate auctioneer) and Bud Roach (founder of Southside Auction and professional auctioneer) is scheduled to ensure that the consignor is well aware of all costs involved prior to and after the real estate auction. The consignor never has to worry about getting swindled through "hidden fees" and "fine print." Our companies ensure that your real estate property looks its best on the day of the auction and is advertised thoroughly and professionally. If your real estate property is sold without a reserve price, we will do our best to make sure that it achieves the highest sale price possible through professional and experienced approach, thorough advertising and a pre-approved crowd of serious real estate buyers!
IF YOU'RE INTERESTED IN SELLING YOUR REAL ESTATE PROPERTY AT AUCTION PLEASE CALL US TO MAKE AN APPOINTMENT FOR CONSULTATION
REMEMBER THIS! THERE ARE NEVER "PENALTY CHARGES" WHEN SELLERS DO NOT ACCEPT HIGH BIDS - WE RESPECT THE DECISIONS OF SELLERS!
Southside Auction Co., Inc.
"A Tulsa Tradition Since 1956"
1507 E. 71st ST.
TULSA, OKLAHOMA 74136
(918) 494-5790 (local)
(918) 494-8693 (fax)
auction918@gmail.com
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Smith and Smith, Realtors
"Providing Homes for Tulsa's Diverse Community"
Jim Smith, Owner & Broker
4845 South Sheridan, Suite 509A
Tulsa, Oklahoma 74145
Office: (918) 622-0402
Cell: (918) 671-8724
Fax: (918) 806-8019
SMITH.AND.SMITH@SBCGLOBAL.NET
WWW.SMITHANDSMITHREALTORS.COM
For all other questions please review our FAQ Section on this website or give us a call! We can also fax or E-mail a copy of our consignment contract!
For more information about selling real estate at auction, please see our webpage entitled “Real Estate Auctions”.