Rosemary Beach SFH_ Sotheby's Auction

Sea Sothebys · 04-01-2008, 12:04 PM

I just wrote this email to an associate, and I thought- I ought to post that on SoWal in case anyone is interested, or may not realize the commission structure that is in place for the Sotheby's auction, or that there is a Rosemary Beach SFH involved, etc.
If you would pass it on, I'd appreciate it.

Good Morning Cindy,

Thank you for your call. I will be at 195 Wiggle on Friday, from 1-3.
The home is on an aggressive reserve, as we spoke about. Something that was just made clear to me, is that if your bidder does not have a written opening bid, than you would not get the commission structure we talked about. I attached a few documents that will help clarify this information.

I don't know what the auction officials or other agents have turned in, but I don't have a written opening bid from any buyers from my side of the sale for 195 Wiggle.

The Thursday buyer orientation will be helpful to us all. I really hope you can come. We both indicated this is our first auction, so I think this could be an enjoyable learning experience. Getting our feet wet. Though, like you, I hope this auction calls the bottom and all stop speculating. You can let your buyer know that that was the motivation for Sotheby's getting involved in an auction on the Emerald Coast.

Look forward to Thursday.

(The Palms, 5p.m., Near Landrys.)

seagrovegirl · 04-01-2008, 12:11 PM

Informative, helpful and useful...Thank you for posting....

Sea Sothebys · 04-01-2008, 01:35 PM

You may also find this form helpful.

SWGB · 04-01-2008, 05:07 PM

How about a just show up and watch form?

Pirate · 04-01-2008, 06:01 PM

For the benefit of all of us would you mind sharing the details of this auction?

Sea Sothebys · 04-01-2008, 07:45 PM

Pirate: This auction has been a tremendous learning experience for me, and I have posted about it throughout the experience. Fortunately, now- all the properties are online at http://www.luxuryportfolioauctions.com

for buyers, I think it would be wise to come to the Thursday Buyer orientation. It is at the Palms in Destin at 5. You can PM me to let me know you are coming and I will put you on the list and give you the proper form.

For co-brokers, it is really important to know to get an opening bid in writing so you can get your 3% on the opening bid. It is important your buyers have a realistic opening bid for your sake obviously... and for the sake of the auction flow, as well.

Please feel free to contact me if I am vague, or if you just want to ask some more questions. I'll be online a lot over the next few days.

Thanks for your interest.

Sea Sothebys · 04-02-2008, 02:51 PM

I just got a time update on the Buyer's Orientation tomorrow night (Thursday, April 3): It is at 6 p.m. (The Palms in Destin).

I'll be the pregnant lady (assuming I am the only one). Let me know if you are planning on coming... I have to provide some info to the powers that be...