Course Description

Marketing Real Estate at Auction

The classroom course has been approved for three hours of elective credit for IL and IN auctioneers, and three hours of elective credit for IL real estate salespersons and brokers. The correspondence course has been approved for Illinois auctioneers and Illinois real estate brokers and salespeople only.

Real estate is a unique, immobile, and highly valuable asset that often represents a large portion of the seller's net worth. The auctioneer and real estate agent or auction company chosen to assist the seller in marketing his/her asset can make a fundamental difference in the overall financial success of the sale. As such, auction and real estate professionals who currently sell real estate or those considering offering real estate auction services must take this responsibility seriously.

Auctioneers and real estate agents recognize this. In a recent Novalis survey of licensed auctioneers and real estate agents, we asked respondents to rate a number of topics that you would like to learn about in elective continuing education. Marketing real estate at auction was near the top of the ratings.

Successful real estate auctions are dependent upon: (i) the expertise of the selling agent, (ii) realistic objectives, (iii) effective marketing, and (iv) timeliness. This course will focus on the key ingredients for successfully marketing real estate assets at public auction. The material is intended to present content regarding marketing real estate at public auction, to promote discussion, and to foster the sharing of perspectives and experience among fellow auction and real estate professionals. Participants will:

• Learn the important difference between real estate and real property and the importance of this distinction.
• Discuss the benefits of selling real estate at auction for seller, buyer, auctioneer, and real estate agent.
• Discuss the seven keys to successfully marketing real estate at auction.

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