Building a Successful Home Based Business Empire!

Building a successful home based business empire will require analyzing five key factors. Once you get comfortable with these five factors you should have a very good idea of which home based business opportunity you’ll want to get involved in!A quick warning before we get into the meat of the article. If you are considering building a successful home based business empire you’ll obviously spend some time researching what opportunities are out there. Be very careful here, if anyone “guarantees” a certain amount of income or tells you that making money from home is easy, DON’T WALK, RUN from these offers. Let’s not forget that a home based business is just that, a BUSINESS.Nothing is guaranteed in business and it’s not easy. I’m not saying this to discourage you or scare you away because there are some great opportunities out there for you to build your home business empire, but understand that whatever you choose will be challenging and it will require a big effort from you to be successful. That being said I personally know home business entrepreneurs that have earned well into seven figures from home, but I also know that they put in the effort to get the return.OK, OK you get it so enough with the lectures, let’s get into the five factors you’ll need to consider when choosing the which home business opportunity is going to help you achieve the success you want!1) What’s the initial investment? When considering this keep in mind that less may not be more. In other words a larger investment may give you a better opportunity to earn a higher income quicker. Some opportunities may not even require an upfront investment, think affiliate marketing. Whatever the size of the investment you’ll want to do you due diligence on the company your signing on with prior to getting started.2) What are your ongoing expenses? Any business owner will tell you one of the most frustrating things to manage is overhead. It’s a moving target and take a business under quickly. In considering a home based business you”ll have a leg up almost immediately here because your overhead is going to be significantly lower than a traditional business. That being said different opportunities are going to have varying expenses. I would suggest staying away from anything that’s going to require purchasing inventory. In today’s Internet world even if you’re going to sell product you should be able to use a drop ship company to help with the storage and shipping of products.3) What type of opportunity will you choose? This is a tough one because we all have different interests and passions. I would suggest spending some time thinking about what your hobbies or passions are. It’s much easier to build a business around something you love than it is to just chase money. From this perspective network marketing can be a viable possibility for a home based business empire because there is a wide range of network marketing opportunities available and you will probably be able to identify one that ties in with your passion.4) How long will it take for you to be profitable? You’ll need to run some projections here, but I would suggest that for a home based business you need to be profitable within 2-4 months.5) What equipment is required? From my perspective I don’t want to get involved in something that requires me to load up on new equipment. For one thing it’s going to eat away at potential profits, but I also don’t want to learn how to use new equipment. You’re going to have enough on your hands learning how to run your business and I would argue that you need to limit your learning curve as much as is possible to your business and how to get it to profitability ASAP!Once you have worked through these five factors you should be able to zero in on a few opportunities that meet the criteria you’re looking for. Once you’ve decided on the opportunity you’re going to choose, roll up your sleeves and have fun building you a successful home based business empire!Feel free to check out my blog at http://www.askchrispatterson.blogspot.com.

There is an excessive amount of traffic coming from your Region.

#EANF#

Improve Your Small Business Marketing to Increase Your Profits

Marketing Tips to Help Drive Profits and Stay CompetitiveAlthough we call them “small” businesses, running a small business is no small task. Compared to larger corporations, small business have a much smaller margin for error when it comes to marketing initiatives – when a marketing campaign fails, larger corporations shake their heads, make adjustments, and move on but for small businesses, a big failure could mean the end of the company. Here are some great marketing tips to help your marketing efforts stay effective and your business stay competitive.Better Use of DataData about your target audience is invaluable to small businesses. This kind of information allows business owners and marketers to identify the types of people who are most likely to do business with them and purchase their products and/or services. Knowing your target audience can also help you to better tailor and focus your marketing messages to those types of consumers. If it is in the budget, hiring a professional data team can really help a small business make the most out of this information.Use Email More EffectivelyEmail can be a powerful tool when it comes to communicating with your current customers. Emails are a great opportunity to connect with customers and provide them information on upgrades, cross-selling opportunities, and additional sales or deals your business may be offering. Using email is a great, non-evasive way to stay connected to those consumers who already know your business and your brand. You can even take email marketing a step further by breaking down your contact list into groups by segments such as purchase history, age group, geographical area, and other important data points.Use Shareable Content to Expand Your ReachConsumers love to share, and social media has made it easier than ever for consumers to share things they like or dislike online. Known as “content marketing,” creating online content that is informative and meaningful to your target audience is a great way to reach more consumers and raise more recognition around your business and your brand. This information is most effective when posted on your company’s website but can also be shared on sites like YouTube and Facebook for easier access.Consider Paid Search to Increase VisibilityDriving traffic to your website is always an important part of marketing your business. One way to do this is to use a paid search to ensure your business’ website will appear when consumers search the types of products or services you offer. For example, should a consumer search “pet groomers in Harrisburg, PA” and you own a pet grooming business in or around that area, your business’s website will appear at the very top of the search results. The closer your businesses website link appears to the top of the search results, the more likely it is that consumers will follow that link to your site.Use Your ResourcesAside from in-house marketing, there are a number of resources available to help small businesses. For example, the United States Small Business Administration can offer business owners loans, counseling sessions, contracts, and other forms of assistance to help cultivate and grow their business. Consider other resources as well including Google Tools for website assistance and online marketing, Kabbage for small business loans, and Free Stock Images for high quality images for your marketing materials.

Your Home Based Business! How To Start?

When you are planning to start a home based business keep in mind that it is pretty much the same as starting a traditional business. In my point of view in any given business my number one motto is be a people’s person. BUILD RELATIONSHIP from your first encounter, I learnt this when I worked as an Activities & Entertainment Manager in the tourism industry for over 19 years.

When you learn this one skill then the rest will just fall in… intelligence, courage, energy, perseverance, commitment, market researching, product development, marketing, advertising, sales, planning, time management, patience. Despite of what you hear or read online this is not going to be an overnight thing. When you see these types of promises and programs. RUN!

There are lot’s of competition and opportunities out there. At the beginning you will need to work more to get your home based business up and running and then you can start implementing the strategies necessary to succeed.

You MUST set a goal before starting a home based business. Ask yourself these questions. WHY do you want to start your home based business? To accomplish the objectives of your business, what are the steps you will need to take? How much time and money you are going to need for your business? Are you going to have an office for your business? In your own home when will be the best time for you to conduct business? If you are one of these people who dislike’s having to get up in the morning at set times to go to work, then I suggest you take up this challenge. Challenge your life in doing something new…

Having a home base business will give you some flexibility also it’ll eliminate the commute, but as I said earlier you are going put in some work at the beginning to get your business up and going. At least you won’t have to listen to bosses dictating what you can do and cannot do.

You will need to implement self-control in your life to avoid all of the distractions that take you away from your business. Your home based business is your life and blood so you are going to treat it as a business, which calls for commitment, perseverance, self-discipline, patience on your part to make it work.

There are several approaches to making money in your home based business. You can choose to create your own products or join several established affiliate programs. Creating your own products is a very long process. You have to deal with payments, refunds, shipping, complains etc. But if you decide to take this approach then it’ll payoff at the end, but then you are left with twice or three times the load compared to my favourite method of home based business. Which is Affiliate Marketing.

With affiliate marketing all you do is help someone else sell their product and you get 50% to 75% of the total cost of the product. This type of home based business and can be setup on autopilot, which means you set it up right once and it’ll earn money while you sleep or on a vacation… You can work on your home based business 2 to 3 hours daily by monitoring it and driving traffic to it consistently. It’s up to you… you are the boss!

You don’t have to choose affiliate marketing to make money for your home based business. If you have a professional skill set or as an independent contractor you can do some freelance work, this is one way for starting your own business. There are typing works, virtual assistant, network marketing, sell you 2nd hand stuff on eBay, and there are lots and lots other business out there.

Hard work, Intelligence, Resourcefulness, is all required for creating a successful home based business. I encourage and challenge you to START your home based business. Trust in yourself and believe in yourself that you can do it… and don’t quit! I believe you can do this…

Inflatable Advertising

Outdoor advertising is a new way of cheap advertising which targets to gain the highest frequency and visibility to all your target clients. There are a lot of ways being utilized in outdoor advertising. You can select the most conventional form such as paying a rent for billboards, advertisement in vehicles, and or street furniture. Another way is utilizing a more conventional method of advertising which hold an equal of more opportunity of catapulting attention. One of the most popular forms of unconventional advertising is inflatable advertisement. This article will be discussing some common advantages of inflatable advertising in the marketing industry as well as to business owners who are still confused on what type of advertising method to be utilized for their businesses. Inflatable advertising is a known cheaper way of advertising your business.

What should I know about inflatable advertising?

Inflatable advertising refers to any category of commercial signaling with the use of signage which is intended to fill an air. They can be a form of any inflatable shapes, balloons, replicas, blimps, balls, display boards filled with air and others which tends to advertise and give information about your product or services. The following are some of the plenty of benefits of inflatable advertisement.

The visibility is high frequency

Simplicity is beauty and it is applicable in inflatable advertising. You need to make the advertisement simpler, simple enough to be easily remembered with your target audience or clients. The center goal of the advertisement is mandated to be clear and visible to all. Example, when you are in a convention or a festival, the main focus of the convention or festival is always highlighted in the event to keep the public aware that such thing. Now, imagine when you are outside and you see big billboards with big company logos, or pictures, what information leaves in your mind? I guess it the image alone. It is because people are more particular to the things that are being remembered easily. They tend to mind less on the details. If you demand a customer attention, make your advertisement gigantic as possible.

It is unconventional

It is unique since it gives an implication or being creative in your advertising strategy. Imagine how kids will be entertained with your outdoor billboards or advertising tools? Can you imagine how great this was to them? It can easily catch someone’s attention especially if you will be using commercial balloons in different colors, sizes and shapes. Most of all, since it is 3-dimensional, I am really sure that thousands will be able to notice it even if it is at a distant location.

It is the most convenient

It does not require too much space since most of the time it is up above, floating in the air. The material can really occupy a lot of attention as it floats and most of the viewers will really see and would be amazed on the type of advertisement you are using. Also, the time when you will ready to keep them because of end of contract for the advertising, you can easily deflate and fold them. It can be carries away back to your office for future use. When it is for disposal, you can even reuse it for camping purposes. This is a lot of convenience compared to other types of advertising methods.

The Finer Points of Internet Auctions

WHAT IS A PENNY AUCTION?

Penny auctions have exploded in popularity with the massive growth of the internet. However, few people know the true origins of penny auctions.Beginnings actually stretch back to the Great Depression. Those were hard times for everyone, but even harder for farmers. Farmers struggled to bring in steady income because of droughts and crops not selling as well as they had previously. As a result, the banks would foreclose on the farmers who couldn’t keep up with their mortgage payments.

The banks weren’t satisfied with just repossessing the house, they wanted to raise as much capital as possible, so they resorted to selling off the possessions of the owners of the repossessed houses. There was not much the farmers could do about it so they began bidding ridiculously low prices, pennies, on the items while threatening others who dared to bid higher than a few pennies.

The auctions of today hardly resemble their tremulous beginnings. Being part of a penny auction today is exhilarating, fun, and addictive. It combines the selling format of auctioning with a little bit of chance factored in.Auctions are a game of strategy but also a game of luck.

The premise behind penny auctions is giving people the chance to win an item at a drastically reduced price.Auctions make that possible by spreading out the cost of the product among multiple bidders. In order for a person to take part in an auction, they must pay a set price for each bid. For example, if a person wanted to bid on a fifty dollar Amazon gift card then he would spend a dollar for each time a bid placed. If he ended up winning the gift card, then he would only have spent a few dollars for a fifty dollar gift card. Usually penny auctions sell bids in packages.

HOW PENNY AUCTIONS WORK!

The main foundation of penny auctions is the pay-per-bid format. It is the key that allows bidders to win items at the fraction of their retail value and allows the auction owners to keep their site profitable. Most y auction sites run on the same premise: people pay a set amount for each bid, whenever a person places a bid within the closing seconds of the auction time will be added, the last person left with a unique bid after the clocks runs out will win the item. There are a large variety of items that can be won, but they tend to be popular electronics or gift cards to popular stores.

There are two types of auctions: lowest unique bid auction and highest unique bid auction. Lowest unique auction sounds confusing but it is actually quite simple. A unique bid is when only one person has a bid at a certain price. Bids usually start at one penny, a bidder can then place a bid at two pennies. Until another bidder places a higher bid, the most recent bidder will be the lowest unique bid because that was the only bid at two cents and nobody bid higher. However, penny auctions generally don’t stop at one penny. It is not uncommon to find auctions that end up at a couple hundred dollars based on the popularity of the item being auctioned. However, the same principles apply for those auctions. Highest unique bid auctions follow the more traditional auction format such as eBay. The person with the highest bid at the end of the auction wins the item.

Auction site owners turn a profit by selling bids. Say twenty people are bidding on a ten dollar gift card at one dollar per bid, at the end of the auction if there were twenty bids placed in total then the site owner would have made twenty dollars with a ten dollar profit.Auctions do seem like a win-win situation:The site owner makes money while the bidder gets an item for dirt cheap. However, not everyone wins in penny auctions. The people who paid one dollar each bid but left with nothing to show for their investments will not be so happy.

HOW TO WIN!

Penny auction has a lot of chance mixed into it, but one can incorporate strategy that will help raise the chances of winning. Playing smart can make all the difference between gambling and auctioning.

The first crucial tip to winning penny auctions is to know how to manage your bids. Your goal should be to win as much as possible without spending a ton of money buying bids. Managing your bids means that you should already know how much you are willing to risk in order to win an item. The amount of capital you are willing to risk will determine how many bids you can use. Once you know how many bids you have to spend on an item, then you will be better able to manage how and when you place a bid. That will keep you from blowing away all of your bids in the first few seconds of the auction.

The next tip is to practice time management. When fighting in the trenches of penny auctions, you have two enemies: other bidders and time. Knowing when to bid is a must if you want to have success. Placing a bid when there is a lot of time left on the clock is never a good idea. You have to remember that the key to winning a penny auction is being the last one standing when the clock runs out and that each bid increases the amount of time left. It would be a good practice to wait until the last few minutes of the auction before you begin to bid.

The final tip for successful auctioning is to keep your emotions under control.Auctions have a lot of similarities to gambling, and just like gambling, your spending can get out of control. If you keep your emotions level, it will keep you from making rash decisions and blowing loads of cash. Keep your mind clear so that you can gage the behavior of the other bidders and outsmart them.

HOW TO AVOID SCAM SITES!

Penny auctions are a great addition to the web whether you want to win an item that otherwise you wouldn’t be able to afford or if you simply enjoy the thrill that comes with bidding in auctions. Unfortunately, scam sites have tarnished the reputation of the legitimate penny auction sites. However, there are ways that you can protect yourself from scamers and enjoy your auctioning without having to worry about losing your money due to dishonesty.

Checking the reputation of the auction site before you start spending your hard earned money is always a good idea. Chances are other people have tried the site before you and some of them have left reviews. The reviews are your way to gage whether a auction site is trustworthy or not. If a site is getting overwhelmingly negative reviews, then that is a clear indication that you should steer your business elsewhere.

Another tool you can use to protect yourself is checking the Alexia ranks of the auction sites. Alexia rank will give a solid view of how much traffic the auction is getting. If you see a huge difference in the amount of traffic Alexia is projecting and the amount of active bidders on the site, then warning signals should be ringing in your head. Some auction sites have been known to set up robots that automatically bid on projects in order to keep the auction going and inflate the price. That is known as shill bidding. You can sniff out those sites by comparing the traffic the site should be getting to the amount of users using this site.

CONCLUSION!

New legislation may come out later down the road that will officially make penny auctions gambling, but until then, it is a fun, exciting auction that allows one to win the item they’ve always wanted but couldn’t afford.Auctions are also quite lucrative for the site owners because of the pay-per-bid strategy they’ve incorporated. Penny auctions had humble beginnings with farmers who just wanted to get back at the banks who kicked them out of their house. More recently, auctions have enjoyed an explosion in popularity with the rise of the internet.

There are two main formats fora auctions, lowest and highest unique auction, however they both run on the same premise where the last unique bid wins the item. Winning a penny auction will require a certain amount of mental tactic and a bit of luck. However, you can increase your odds of winning by practicing certain techniques such as managing your bids wisely, learning how to work with the time, and keeping a level head and your emotions under control. When you combine those three strategies to your bidding plan, you will find that you win a lot more often.

It is important that you do your due diligence to protect yourself when participating in auctions. Not every auction is run by honest and trustworthy people. There are people out there who just want to take your money. You can protect yourself by ensuring that you only bid on sites that already have a very positive reputation from real users.

How to Find Great Live Auctions for Resale Items

Hi, my name is Walt. I’m an auctioneer with 25 years of experience in the auction business and licensed in the state of MA. I own Quick Auction Service, a company that specializes in building and running custom auctions, I’m also the webmaster of my own site and have been on eBay for 8 years. Besides eBay, the types of auctions I run most frequently are antiques and on-site estate auctions, although I’ve run everything from business overstock auctions to charity & special event auctions.

I enjoy sharing my knowledge and stories of the auction business. My goal for article is to help folks get the absolute most out of their auction experience.

Whether your fresh out of the package or a seasoned dealer I think I can offer something in this article to help you with your auciton adventures.

There may be as many reasons to attend auctions as there are types of auctions to attend. Maybe you want to attend an auction to buy items for re-sale on eBay, or some other market. Maybe you want to furnish your home with wonderful antiques, or you want to furnish your home as inexpensively without sacrificing quality.Some folks are just looking for a fun night out. With a little perseverance all these things are possible.

There are antiques and estate auctions, auto auctions, overstock auctions, absolute and no reserve auctions, real estate auctions, specialty auctions where only one genre of items are sold, tailgate auctions, live auctions, online auctions, sealed bid auctions, silent auctions, charity and fund raising auctions and many more.

Can you really buy for pennies on the dollar at an auction? You bet! Many times I’ve seen folks buy and re-sell at the same auction on the same night for a good profit, although be advised, this should only be done after the auction is over.

There are a lot of ways to find an auction, but here are some tips on how to find and attend the best ones.

Visit the genre of shops in the area that apply to the type of auction you want to attend. IE: If your looking for a good antique auction to attend, stop in the local antiques shops and ask for what there are for good auctions in the area. Sounds obvious right? But listen to what they don’t say as well as what they do say. Oftentimes when a dealer speaks poorly about an auction he or she attends, it may be likely that they are trying to keep a good thing secret. Think for a moment, why would a dealer keep attending a lousy auction?

Newspaper ads: I personally like to find ads in the classified ad section rather than flashy display ads. Flashy ads are usually indicative of an auction that will be high priced, may have reserves, (a set price on an item), and usually an enormous crowd. While any auction can be profitable to attend, it is usually best to steer clear of the glitzy ones, at least for the beginner.

Here’s the minimum you want to find out before you go. If there is a phone number in the ad, call and ask for the terms of the sale. What forms of payment do they accept? Is it an absolute auction? An absolute auction is one that has no minimum or reserve bids on items. These are the best auctions to attend! Is there a buyers premium? A buyers premium is like a tax that everyone who makes purchases at that auction must pay above the winning bid price. Most auctions these days do charge a buyers premium, 10% is not unreasonable but I feel much more than that is greedy, and the auctioneer that charges over 10% is counting on most bidders not doing the extra math as the bids quicken in pace.

A fair auction will have ample time to inspect the merchandise, usually at least 2 or 3 hours. Find out when inspection starts and make sure to attend! Never attend an auction if you can’t make the inspection, not unless your prepared to gamble. Most auctioneers sell at a rate of about 100 items per hour, which is why they sell “as is”. They simply don’t have the time to give a detailed description of all the items. Since almost all items at auction are sold AS IS, there are sure to be some damaged, refinished, fake and incomplete items at any given auction. Beware of any auctions that offer very little or no inspection time.

Good auctions will usually have 150 to 400 lots. A lot may be one item or a group of items. The exception to this are specialty auctions, auto auctions, real estate auctions etc.

When you attend your first sale, take note of the 1/2 dozen or so dealers that buy the most often. See if you can find out about other area auctions they attend.

When you do find an excellent auction, attend it as often as possible. By frequenting good sales, you help increase the bottom line of that business. It’s difficult for many auctioneers to keep the quality of merchandise consistent, so good attendance certainly helps. And when an auctioneer gets to know you as a buyer, he/she will go out of the way to accommodate you, to keep you coming back.

Hiring An Auction Company

Estimating your assets value:

Typically, one of the first questions a business owner will ask me is, “how much will the assets bring at an auction”. After taking the time to review the assets, the auctioneer should give the client a conservative estimate of the sale based upon his experience and the current market trends. It is important that the company give realistic expectations so the seller can make informed decisions based on their best interest.

Compensation and Expenses:

Is the company you are considering working for you or against you? The agreement you decide may determine this.

A business owner should carefully consider how the auction company is compensated. The most common commission structures include: straight commission, outright purchase of assets, guaranteed base with a split above to both auctioneer and seller, guaranteed base with anything above going to auctioneer or a flat fee structure.

In a straight commission structure, the company is paid an agreed upon percentage of the total sale.

In an outright purchase agreement, the auctioneer simply becomes your end buyer. The company purchases your assets and relocates them. While this can be an option in some unique situations, keep in mind that they will want to purchase your assets at a very reduced price to make a profit at a later date.

In a minimum base guarantee, the auction company guarantees the seller that the auction will generate a minimum amount of sales. Anything above that amount either goes to the auction company or split with the seller. While a seller might feel more comfortable doing an auction knowing that he is guaranteed a minimum amount for his sale, keep in mind that it is the best interest of the auction company to secure a minimum base price as low as possible in order reduce their financial liability to the seller and secure higher compensation for the sale.

In a flat fee structure, the auctioneer agrees to show up for the sale and call the auction. There is no incentive for the auctioneer to get the best prices for your assets. The auction company is compensated regardless of the outcome of your sale.

What is the best option for business owners? In my experience, an agreed upon straight commission structure. This puts the responsibility on the auction company to offer the best outcome for everyone involved. There is an incentive for the auction company to work hard for both parties, set up and run a professional sale, get the highest bid and sell every item on the inventory. Successful auctions translate to a higher bottom line for both the seller and the auction company.

Auction Expenses:

In most auction agreements the expenses to conduct an auction are passed to the seller. If the auction company pays for the expenses, it is simply absorbed in higher commission rates.

All expenses should be agreed upon in advance in a written contract. Typical expenses will include the costs of advertising, labor, legal fees, travel, equipment rentals, security, postage and printing. A reputable auction company will be able to estimate all expenses based upon their experience in previous auctions. An agreement should be actual costs charged as expenses, not an estimated amount.

Advertising is typically the highest cost in conducting an auction. The auction company needs to set up an advertising campaign that will promote the sale to its best advantage and not overspend to simply advertise the auction company.

Once the auction is complete, the auction company should provide a complete breakdown of all expenses to the seller, including copies of receipts within the auction summary report.

Buyer’s Premium:

What is a buyer’s premium? If you attend auctions regularly, you are very familiar with this term. The auction company charges a fee to the buyer when they buy an item at auction.

The buyer’s premium has been around since the 1980′s and is standard auction practice. It was first used by auction houses to help offset costs of running brick and mortar permanent auction facilities. Since then, it has spread to all aspects of the auction industry. It is prominent in online auctions and allows auction companies to cover added expenses incurred from online sales.

It is the responsibility of the auction company to provide clear disclosure of the buyer’s premium to both the buyers and the sellers. Those not familiar with auctions are often taken back by the buyer’s premium. They looked upon it as an under handed way for the auction company to make more money. Reputable auction companies will provide full disclosure within the auction contract, advertisement and bidder registration.

Typically, an auction company will charge online buyers a higher buyer’s premium percentage than those attending an auction in person. Extra fees are incurred with online bidding and are charged accordingly to online buyers. This provides the seller a level playing field for both online buyers and those attending the auction in person. Without the buyer’s premium, there is no way to do this.

Pre-Sales:

We’ve all been there. We’re looking forward to attending an auction only to find that some items were sold prior to the auction date.

As an auctioneer with over thirty-six years of experience, I can honestly state that pre-sales will hurt an auction. When a company decides to liquidate their assets, it is easy to sell off high-end pieces of equipment through online sources, equipment vendors or to other businesses. The seller receives instant cash and avoids paying a commission to an auction company.

Auctioneer’s find themselves appearing to acting in a self-serving capacity when potential clients say they are planning to sell off parts of their inventory prior to an auction. It’s hard not to consider the auctioneer’s commission when they warn you not to pre-sell anything. Yes, the auctioneer wants to earn a commission on those sales but it is more important that the auctioneer protect the sale from potential negative backlash that comes from pre-selling. The buying public knows when an auction has been “cherry picked” prior to the sale and it reflects in their bidding. It becomes a sale of “leftovers” and that impacts prices.

A buyer who purchases prior to the auction usually does not attend the sale. They already bought equipment at a good price with no competition. If they do attend the auction, they tend to let others know of their great pre-sale purchases which again, impacts prices and the overall excitement of the sale.

It is important to understand that auctions work best with a complete inventory. You want competition on your higher end equipment. The easy to sell items make it possible to gain respectable prices for hard to sell items.

When a business owner decides to liquidate their equipment assets, there is only one opportunity to do it right. Hiring a reputable auction company will assist you with a professional, orderly and timely liquidation.

Five Tips for Selling at Live Auctions

Ah, the old-fashioned country auction! The idea of a country auction conjures up certain images for people. The image of a fast-talking auctioneer offering up an antique table or chair is a popular example.

People who are buying household goods or collectibles are looking to get their items at the lowest price possible. However, the people who are selling their items at auction are hoping for the highest price!

Unless a person is in the business of buying and selling antiques or other items, not a lot of thought goes into how goods are prepared for sale via the auction process. However, if you are one of the growing number of people using auction venues to sell your collectibles or other inventory, there are a few things to learn first about how to sell at auction before you bring a truckload of stuff over to the next event.

Tip 1: Make sure the things you want to sell are a good “fit” for the auction house you’ll be using.

Never bring a load to an auction house without actually having been to one of the previous auctions. It’s important to get a feel for the type of goods that the house sells. For example, at one very rural country auction it was common for the owners to sell live chickens, pots and pans, car parts, and farm equipment.

After close investigation, this would not be the right venue for selling your daughter’s “Hello Kitty” collection. On the other hand, the spare John Deere parts that you bought at last week’s yard sale might be just the right thing for the buying crowd at this auction.

Tip 2: Be sure you clearly understand the terms and policies of the auction house.

Visit with the auctioneer ahead of time. Call to find out what the best days and times are to visit. One of the worst possible times to drop in for an informational visit with an auctioneer is the day of the auction. Call ahead and ask. While you’re at it, find out what are the best days and times to drop your stuff off.

Once you have a little time with the auctioneer, you’ll be able to find out what type of commission he or she takes from consigners (which is you), and what type of paperwork might be needed. Some auction houses send out Form 1099 tax forms at the end of the year. An auctioneer may need to see your identification and have you fill out a W-9. Be prepared.

Find out what happens to your items if they don’t sell. For example, some auctioneers may have a minimum starting bid. If, for some reason, one of your items does not sell, it may be grouped with another one of your pieces. Know the auctioneer’s strategy beforehand so that you aren’t surprised on pay day.

Tip 3: Make sure the auctioneer knows what you’re selling.

It might be perfectly obvious to you that the signed print you are consigning is a rare and valuable piece of art. However, the auctioneer may not know this particular artist. Make a note of anything particularly special about your items, and leave the note with the piece. Be sure to tell the auctioneer about it as well. He or she might determine that this is something to highlight on the company website or in the newspaper listing.

Tip 4: Present your items neatly.

No one likes to have to dig through a box full of grimy and greasy car parts to see what treasures might be in there. Separate the parts and lay them out on a flat, or use more than one box to de-clutter the lot.

There is no need to buy fancy display boxes. It’s easy enough to go to the local convenience store or supermarket and ask if you can have the emptied boxes or flats that they are discarding.

While it’s good to present clean items, take care not to ruin the value of anything by over cleaning. For example, if you find some old cast iron cookware, clean the obvious dirt and grime, but don’t scrub it to its original finish. For many people, this ruins the value of the item. So, clean and tidy and organized is the key here.

Tip 5: Don’t complain to the auctioneer if your stuff doesn’t sell for as much as you’d like.

The phrase to remember here is, “You win some; you lose some.” That’s just the way it is. There are some days where an auction house is loaded with people who all seem to want what you’re selling. There will be other days where the crowd is sparse, and the bidding is simply not competitive.

Remember that it’s in the auctioneer’s best interest to sell your things for the highest possible hammer price. But sometimes, it’s just not going to be a stellar sale. The auctioneer is only human, and is also disappointed if a sale doesn’t go as well as planned.

If you notice that every time you bring a bunch of goods to sell that you’re not realizing as much as you think you honestly should, try another auction venue and compare apples to apples. That is, bring the same types of items to the new auctioneer and compare the results.

Unless the auctioneer is particularly disagreeable or inconsiderate to you or buyers, there is no reason to confront him or her about a sale. If you find you just don’t care for an auctioneer’s style or methods, find another one. Believe me, there are plenty of them out there!

The primary thing to remember as you learn how to sell at auction is that the business is unpredictable at best. You will have good days, some not-so-good days, some great days. The more you sell, the more experience you will gain, and the more enjoyable the business will be.

Real Estate Auctions – The New Land Rush

On a sunny afternoon in Florida, an energetic crowd gathers on the lawn of a high end luxury estate. A loud and eager banter between an auctioneer, a group of bidders and bidder assistants fills the air. For several minutes the auctioneer asks for the next highest bid and the bidders respond. Suddenly the bidders grow silent. The high bidder holds his breath in anticipation of winning the auction. The auctioneer calls for one more bid. In a loud clear voice which rolls over the audience he says, “Fair warning, last chance” the auctioneer pauses, “SOLD!” And in less than 10 minutes another multimillion dollar estate has changed owners.

Successful real estate auctions like the one above are happening all over North America and the Caribbean. Recently real estate auctions have been on the rise, the increase in popularity is partly driven by growing inventories and fading buyer confidence. Properties that were selling in weeks using traditional methods are now languishing on the market unable to attract buyers even as seller’s lower prices. Many say the real estate boom is over but savvy buyers and sellers are profiting from real estate auctions.

Real Estate Auctions Work in Up or Down Markets.

Regardless of trends or market cycles, real estate auctions provide an open and transparent process for buyers and sellers. Properly conducted real estate auctions attract ready and willing buyers and motivate them to act now.

The auction method removes the “wait and see” attitude which serves to further depress real estate values. Buyers are always concerned about overpaying. Buyers gain confidence with their purchases at real estate auctions because they can see what others are willing to pay.

When market demand is high and inventories low, real estate auctions can deliver selling prices well above what a willing seller would have accepted in a negotiated private treaty sale. In good selling climates many property owners using traditional real estate methods; negotiating with one buyer at a time, leave thousands of dollars of equity on the table. During up markets real estate auctions are the best way to establish top market price.

Evaluating Your Real Estate for Auction

Not every property or seller for that matter makes a good candidate for auction. First of all sellers must be ready to sell now and for the current market value. Also a real estate auction will not fix problems caused by a downturn in market value of your property, if you owe more than a willing buyer will pay, be prepared to come to closing with your check book.

Properties that do well in real estate auctions have a high uniqueness factor. Ask your self, “What makes my property different from most others?” Maybe you own a resort property or high end luxury home, commercial properties and land do very well at auction. Real estate auctions thrive on uniqueness. If your property is like everyone else’s, the best thing you can do is offer the most competitive price.

Most importantly sellers must be reasonable about setting a minimum bid. A seller must look at the lowest, most current comps and price below that to generate the interest and urgency necessary for a successful real estate auction. Once the auction begins and qualified bidders start competing against one another you can watch the selling price increase.

Locate a Qualified Real Estate Auctioneer

Start by checking with the National Auctioneers Association, the best real estate auctioneers belong to this organization. These real estate auctioneers are well trained and adhere to a standard of practice and a code of ethics. Many attend the annual International Auctioneers Conference where the latest techniques and innovations in the real estate auction industry are presented.

Find out if the company you are interviewing is a full time real estate auction firm. Many real estate agents are getting auction licenses yet have no experience with the auction method of marketing. Conducting a successful real estate auction is nothing like (private treaty) traditional real estate sales. Go with a real estate auction pro.

You’re probably better of with an auction house that specializes in real estate auctions. There are many qualified auctioneers who have generations of experience selling personal property; furniture, dishes, lawn equipment and the occasional rare painting. Selling real estate at auction is a complex matter that should only be attempted by full time experienced real estate auction professionals.

Commissions and fees may vary, sellers must pay all marketing expenses up front and buyers typically pay 10% of the sales price to the auctioneer of which a share goes to participating real estate agents.

Types of Real Estate Auctions

Auctions are effective because they create a seller’s market. Professionally conducted real estate auctions create urgency, a reason to buy today and competition for the property. Terms and conditions of sale are established ahead of the auction. Real estate auctions will follow one of these three approaches:

Absolute Auction

The property is sold to the highest bidder regardless of price- using this process often returns the highest sale price.

Minimum Bid Auction

Seller agrees to sell at or above a published minimum bid price – this method is useful for internet auctions.

Seller Confirmation or Reserve Auction

With a reserve auction, the seller “reserves” the right to accept or decline any bids usually within 48 hours of the auction. Reserve auctions are used when there is a lien on the property from a lender or a court ordered sale with a minimum selling price.