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Transcript of Bancopopularnovember302009proposalpresentationforgallowayetc 091201153819 Phpapp02
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J P. King Auction Marketing
Presentation for
Banco Popularby
Richard Moravek and Ray Treco
954-374-9978November 30, 2009
J P. King Auction Marketing
Presentation for
Banco Popularby
Richard Moravek and Ray Treco
954-374-9978November 30, 2009
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Auction Marketing Presentation
for
Banco Popular
Auction Marketing Presentation
for
Banco Popular
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Growing PopularityGrowing
Popularity
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What’s in it for you?
-- Selling Quickly-- No
Contingencies --Market Value $
What’s in it for you?
-- Selling Quickly-- No
Contingencies --Market Value $
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TIMEIs it important to have your real estate Sold
and closed fast?
With an agreementtoday , we could have a
Late January 2010 auction,
with closing in 30 days or less.
TIMEIs it important to have your real estate Sold
and closed fast?
With an agreementtoday , we could have a
Late January 2010 auction,
with closing in 30 days or less.
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J.P. King Auction Company’s Experience Produces ResultsJ.P. King Auction Company’s Experience Produces Results
Complete Sell-outs for Top Dollar!
Complete Sell-outs for Top Dollar!
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J P King’s Auction Program is Proven, Reliable & Repeatable
Grand Opening Events, Inventory Reduction & Close-Out Events
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How A J P King Auction Works
• Multifaceted Marketing Campaign
• Targeting End Users
• Highly Competitive Bidding Event
• Most Result-Oriented Sales Program
“The auction process accomplished our goals for us. We were able to maximize on the time value of money now…We wouldn’t hesitate to use a J P King auction again.” - Daniel O’Donnell
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The philosophy behind J. P. King’ssuccessful marketing program
The philosophy behind J. P. King’ssuccessful marketing program
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Exposure
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Concentrated Magazine & Newspaper Advertising
Direct Mail Campaign
Internet Promotion
Outbound Telemarketing Plan
Web Media Placement & Public Relations
Signage, Billboard & Banners
Concentrated Magazine & Newspaper Advertising
Direct Mail Campaign
Internet Promotion
Outbound Telemarketing Plan
Web Media Placement & Public Relations
Signage, Billboard & Banners
ExposureExposure
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ExposureExposure Web Media Placement & Public
RelationsWeb Media Placement & Public Relations News releases generate coverage in local, regional and
national traditional and electronic media to promote the auction, as well as positioning the auction
J P King Auctions are frequently covered by such media as PR News Wire, NPR, CNBC, WSJ, New York Times, Forbes, Crain’s, Chicago Tribune and Bloombergs
News releases generate coverage in local, regional and national traditional and electronic media to promote the auction, as well as positioning the auction
J P King Auctions are frequently covered by such media as PR News Wire, NPR, CNBC, WSJ, New York Times, Forbes, Crain’s, Chicago Tribune and Bloombergs
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ExposureExposure Newspaper Coverage –
Regional andLocal Approach :
Wall Street Journal--SoutheastMiami HeraldMH Spanish EditionSouth Dade News LeaderSouth Florida Biz’ Journal Orlando SentinelKissimmee Papers
Newspaper Coverage –Regional and
Local Approach :Wall Street Journal--SoutheastMiami HeraldMH Spanish EditionSouth Dade News LeaderSouth Florida Biz’ Journal Orlando SentinelKissimmee Papers
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Color Brochures and Color Postcards may be mailedTo:Exclusive database of prospective buyers consisting of:
Targeted Individual Income Strategically purchased mailing list Area Brokers Local Business People
Direct Mail and Database
J.P. King has theJ.P. King has the most extensive most extensive list of list of qualified qualified
buyersbuyers
ExposureExposure
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ExposureExposure
Internet PromotionInternet Promotion
Voted #1 web site in the auction industry Approximately 50,000 visitors per month Advertising on other sites such as
luxuryrealestate.com
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ExposureExposure
Internet PromotionInternet Promotion
Builders Association(s) Websitessnowbirds.orgviviun.comjpking.comcampaigner.comcondo.comnewcondosonline.comGoogle ad wordsLoopnet-- feature adMiami and Orlando/Kissimmee area websites
Builders Association(s) Websitessnowbirds.orgviviun.comjpking.comcampaigner.comcondo.comnewcondosonline.comGoogle ad wordsLoopnet-- feature adMiami and Orlando/Kissimmee area websites
Internet Campaign Including , not limited to, the following sites:
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ExposureExposure
Television and RadioTelevision and Radio
TV and Radiomay be designed to advertisethe auction at on Local / Regional Television and Radio
TV and Radiomay be designed to advertisethe auction at on Local / Regional Television and Radio
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Outbound Telemarketing
CampaignAn aggressive outbound campaign to targeted buyers, including your prospect list, area real estate brokers and select portions of J P King’s prospect list
Exposure
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ExposureExposure Professional Photography &
Virtual TourProfessional Photography & Virtual Tour
To Showcase the properties in the very best light, professional photographs will be taken & utilized in all media
Additionally, Virtual Tours will be available on-line to present the property to individuals who may be interested in purchasing long distance and will be an effective reminder to those who have previewed the property prior to the auction but are unable to attend on auction day and will participate remotely
To Showcase the properties in the very best light, professional photographs will be taken & utilized in all media
Additionally, Virtual Tours will be available on-line to present the property to individuals who may be interested in purchasing long distance and will be an effective reminder to those who have previewed the property prior to the auction but are unable to attend on auction day and will participate remotely
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Signs ,Billboards and Banners
Attractive Signs will be strategically placed on the Property.
A Billboard and Banners may be secured in the Area.
Exposure
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Educate
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Project Management
Auction Information
Extensive Buyer Due Diligence
Bidder/Broker Seminars
Property Tours
Project Management
Auction Information
Extensive Buyer Due Diligence
Bidder/Broker Seminars
Property Tours
EducationEducation
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EducationEducation
Project ManagementProject ManagementYour project manager: Oversees day-to-day details of the event Gathers, manages and distributes all
auction information Maintains communications with you and
provides written status reports
Your project manager: Oversees day-to-day details of the event Gathers, manages and distributes all
auction information Maintains communications with you and
provides written status reports
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Auction Information Receives all incoming calls and enters into database
Follows up on all inquiries regarding the properties Initiates an aggressive outbound campaign to previous bidders/buyers as well as brokers
Education
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EducationEducation
Property Information PackageProperty Information Package The PIP is one of the most important elements of all our
educational efforts Provides and documents property-specific due diligence
information Online with customer tracking and hard copy Serves to make buyers comfortable with the property and
helps ensure a smooth closing
The PIP is one of the most important elements of all our educational efforts
Provides and documents property-specific due diligence information
Online with customer tracking and hard copy Serves to make buyers comfortable with the property and
helps ensure a smooth closing
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Bidder & Broker On- Line Seminars
Bidding & Registration Procedures Educate on ownership structure Sample mock auctionClosing proceedings
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EducationEducation
Pre-Sale InspectionPre-Sale Inspection
Experienced site directors will work onsite during the scheduled preview prior to the event to educate buyers on the ownership and location benefits of the property.
Experienced site directors will work onsite during the scheduled preview prior to the event to educate buyers on the ownership and location benefits of the property.
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Closure
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Your Auction Day Event
• Staffed by J.P. King Personnel
• Will Take in a upscale hotel ballroom
• Will Include Hospitality & Entertainment to set the Tempo and Mood
• Date Certain Event –Closed in 30 Days
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Broker Incentive Program J P King has developed the most effective broker participation program
Buyer’s Premium Funds J P King and Buyer Broker commissions
Retail Auction Program J P King has perfected a highly sophisticated
plan for offering the units on auction day
Broker Incentive Program J P King has developed the most effective broker participation program
Buyer’s Premium Funds J P King and Buyer Broker commissions
Retail Auction Program J P King has perfected a highly sophisticated
plan for offering the units on auction day
ClosureClosure
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Buyer Brokers Program Most effective Broker Program in the industry
Paid directly by J. P. King from its commission Heightens broker awareness of the opportunity presented by the auction Encourages broker participation in the events to raise auction prices
Closure
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J. P. King Auction Company
has been named the exclusive
auctioneer for
Who’s Who in Luxury Real Estate®,
whose member brokers represent more
than 100,000 premier agents throughout
the United States and abroad.
“As the exclusive auctioneer for Who’s Who, J. P. King has repeatedly demonstrated the value of the auction method and their commitment to the highest level of service.”
~Brian Losh CEO at Who’s Who in Luxury Real Estate®
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The High Bidder’s Choice Method:The most effective bidding method to
maximize price
All bidders are forced to compete to win
Forces all bidders to compete against each other in each and every round of bidding It significantly stimulates competition and establishes higher prices
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Broadway Station
Broadway Station Myrtle Beach, SCMyrtle Beach, SC
$4.9 Million
$4.9 Million
Registered Bidders 124
Property Tours 208
Bidders from 14 states and Canada
registered at the auction
Registered Bidders 124
Property Tours 208
Bidders from 14 states and Canada
registered at the auction
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The more properties we can sell on a single round of
bidding the greater the overall average price, in
addition to allowing more properties to be sold in the
auction
Back Bay- Sold 86 units in 27 rounds
Holiday Harbor - Sold 66 units in 20 rounds
Oak Terrace – Sold 37 units in 18 rounds
Atlantic City - Sold 33 units in one round
MastYard West - Sold 40 units in only 21 rounds
Ocean Point - Sold 23 units in 13 rounds
CentreWalk- Sold 30 units in 13 rounds
Camino Real - Sold 42 units in 13 rounds
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A J. P. King Auction has repeatedly proven to sell large quantities of inventory through a single
eventPortside Condominium 103 unitsLake Park Condominium 210 unitsPittsburgh Cooperatives 135 unitsStillwater Resort 324 properties Missouri Condo Portfolio 151 unitsBackBay Condominium 86 unitsHouston/Dallas Portfolio 129 housesThe Wilderness 86 lotsSugar Beach Condominium 100 unitsGreenCroft Condominium 87 unitsGreater Minn. Portfolio 80 unitsVermont Portfolio 113 propertiesNew Orleans Gala 212 houses
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What drives a successful auction?
The type of auction must be consistent with the buyers’ perception of their being able to purchase the property at their own price
Increasing the number of motivated bidders
Bidders aggressively pursuing the opportunity to purchase your property at their own price
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The Key to a Engaging the Buyers
Selling on an Absolute basis (to the highest bidders without a minimum bid or reserve)
•Results in an overall increase in overall response (both inquiries & property tours) from Prospective Buyers
•The total attendance of bidders is increased
•Resulting in Higher prices for the property
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The winning bidder must deposit a 10% down payment on the day of the auction
Buyers sign a contingency-free agreement
Buyers close within 30 days
The winning bidder must deposit a 10% down payment on the day of the auction
Buyers sign a contingency-free agreement
Buyers close within 30 days
Terms of the Sale
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AUCTION DAY
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The Auction Event
“…The most important aspect of the auction for us is the dollar result, which we feel adequately reflects the current real estate market in our area.” Peter G. Florey, Benjamin Development Co., Inc.
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Financial Arrangement
J. P. King’s receives the 10% Buyer’s Premium paid by the buyer.
J. P. King funds up to a 2% Buyer Broker commission through ourBroker Incentive Program.
The Seller is responsible for the funding the exposure, education and closure expenses in the amount of $178,223.00, which represents the Engagement Fee for this auction.
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Real Estate
Track Record
Real Estate
Track Record
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Clearwater Cay Club Clearwater Cay Club Clearwater, FloridaClearwater, Florida
$3.4 Million
$3.4 Million
States responded 24
Property Tours 95
States responded 24
Property Tours 95
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Liberty Square & Hometown VillageWisconsin $5.4
Million100%
Sellout!60 properties
sold & closed!
147 registered bidders
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Rhapsody at Lake Delton & Delton Point $7.8 MillionWisconsin Dells, WI
100% Sellout!45 units
128 registered bidders from 13
states
Over 400 in attendance auction
day!
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North Georgia ShowcaseAtlanta, GAAtlanta, GA
$8.7 Million
$8.7 Million
Achieved 91% of Broker Price Opinion
100% Sellout!
39 properties were offered
100% Sellout!
39 properties were offered
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The Nettleton CondominiumsThe Nettleton CondominiumsMemphis, TNMemphis, TN
$5.5 Million
$5.5 MillionRegister Bidders
187 Register Bidders
187
Over 450 property tours!
Over 450 property tours!
100% Sellout!
30 properties offered
30 properties offered
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Bank Owned PropertiesFlorida, NC, and AL Gulf CoastFlorida, NC, and AL Gulf Coast
$7.7 Million
$7.7 Million
Achieved 102% of the reserve
prices!
Achieved 102% of the reserve
prices!
73 registered bidders
73 registered bidders
24 Properties sold & closed24 Properties sold & closed
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Summer House in Old Ponte VedraSummer House in Old Ponte VedraPonte Vedra, FLPonte Vedra, FL
$2.3 Million
$2.3 Million
Register Bidders 95
Property Tours 167
Register Bidders 95
Property Tours 167
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The Sage CondominiumAustin, Texas
$3.7 Million$3.7 Million
Registered Bidders 79
Website Views 7561
Over 410 property tours!
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The Enclave at Eagle HarborJacksonville, Florida $4.0
MillionRegistered Bidders 85Property Tours 187
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Sarasota CollectionSarasota, Florida
$19.4 Million
$19.4 MillionProperty Tours
26Web Inquiries17,448
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Vista Hills CondominiumsVista Hills CondominiumsAustin, TXAustin, TX
Registered Bidders 42Web Inquiries 3353
“Your firm did everything you promised, and the units sold at prices which met our expectations.”
~ Scott Plantowsky, Developer
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The Hamptons at Tampa PalmsThe Hamptons at Tampa PalmsTampa, FLTampa, FL $5.9
Million$5.9
Million171 registered
bidders from 15 states!
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$855,948.50
$855,948.50
Talladega Development LandTalladega, Alabama
Registered Bidders 18
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Sundance Trails Ranch
Okeechobee, Florida $1.8 Million
Registered Bidders 40Inquiry Calls 79
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Golden Spring DevelopmentGolden Spring DevelopmentOxford, AlabamaOxford, Alabama $3.3
Million$3.3
MillionRegistered Bidders 41Inquiry Calls 251
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Jones EstatesJones Estates
Selma, AlabamaSelma, Alabama
$1.8 Million
$1.8 Million
Registered Bidders 56
Web Inquiries 3059
Registered Bidders 56
Web Inquiries 3059
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Crystal ShoresCrystal ShoresNorth Sound, Grand CaymanNorth Sound, Grand Cayman $3.3
MillionInquiry Calls 108Web Inquiries 2,150
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$2.75 Million
$2.75 Million
Plum Creek DevelopmentRapid City, South Dakota
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FDIC FDIC Houston and Corpus Christi, TXHouston and Corpus Christi, TX
$4.1 Million
Commercial, Residential, and Land Properties
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13 states from New Jersey to California
Resolution Trust Corporation
“… We must have set a world record for attendance at an auction event.”
“… The tight timing, difficult properties, and logistical problems were major obstacles that your team overcame.”
– E. Mark GlannonRTC Metro Office, NJ
37 auctions, over 2,000 assets, 13 states
$300,000,000 – 91% of Broker Price Opinion
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8 States from California to FloridaOcwen
$86 Million
$86 MillionWith over
1900 Propertie
sthrougho
ut 8 states
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New York, New Jersey and Connecticut
Berkeley / Ontra
“… We are highly pleased with the auction results as well as the response to the many stages of marketing utilized during this auction process.”
– Sara A. WhiteOntra, Inc.
over 700 assets, 3 states$50,000,000 – 90% of Broker Price
Opinion
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Farmers & Merchants Farmers & Merchants Gulf Shores, AlabamaGulf Shores, Alabama
Over 50 Commercial &
Residential properties and
1000 acres
Over 50 Commercial &
Residential properties and
1000 acres
Bank Liquidation Sale
Bank Liquidation Sale