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When a loved one dies, handling his or her property matters is a difficult yet necessary task. Many family members and even their professional advisors don't realize that an auction team can quickly jump in to give much needed support.
Heirs may be scattered around the globe and unwilling or unable to step in and take immediate responsibility for marshaling assets, cleanup, maintenance, repair, appraisal, preparation for sale and other matters relating to the estate's property. We are estate specialists -- we handle everything -- and in so doing we ease the burden on the family.
Often times an estate has no liquid assets, or liquid assets are quickly depleted on funeral costs and creditor claims. Our auction team thrives on turning hard assets into much needed cash.
Consider the advantages that the engagement of a progressive team such as TRAC's has over the traditional list-and-wait method of selling real estate: all properties are given MLS exposure; targeted marketing draws numerous pre-qualified buyers to the sale; properties are sold "as-is" without the need for repairs and continued carrying costs; auction terms are simple and consistent; properties sell on a date certain; and settlement must occur within 30-45 days. We work hand in hand with any real estate professionals already engaged to sell the property and our primary goal is simple: a fast sale at an acceptable price.
For assets other than real estate, after the personal pieces which will be kept by the family have been separated from the rest, the remaining furnishings, artwork, jewelry, vehicles, equipment and other personal property can be sold at auction (live, online or both).
Our experienced auctioneers have extensive training which prepares them for estate sales1 and our competent support staff is always there to assist in executing each sale in accordance with the family's or advisor's wishes.
A TRAC auction team can professionally handle many matters for the decedent's family and estate professionals. Contact us to set up a free consultation or complete the form below for more information.
1Accreditations/Certifications Overview
Certified Auctioneers Institute (CAI) -- This program is the most prestigious designation awarded in the auction industry and was established in 1976. CAI is an executive development program designed for industry leaders and auction firm decision-makers. University professors and other professionals teach this three (3) year program and the maintenance of this certification requires National Auctioneers Institute certified continuing education of 12 hours annually. Nationally, only 2% of the professional auctioneers hold this certification. Sample courses are:
- Finance
- Marketing
- Business Ethics
- Public relations
- New sale techniques
- E-auction trade
This knowledge and these skills allow certified auctioneers to provide high-quality auctioneer consultations and services to all types of clients. Clients include, but are not limited to, attorneys, trust officers, government officials, financial planners, accountants, banks, lenders and others.
Accredited Auctioneer Real Estate (AARE) -- The Accredited Auctioneer Real Estate designation is the specific education for auctioneers to specialize in selling real estate. Whether selling residential, agricultural, commercial or industrial properties, auctioneers who hold this designation have enhanced their knowledge in all pertinent areas, such as:
- Marketing techniques
- Financial/investment calculations
- Evaluating cash flow
- Holding-period analysis
- Tax consequences of buying and selling properties
- Multi-parcel real estate auctions
Certified Estate Specialist (CES) -- Certified Estate Specialist certification provides certified auctioneers with advanced education enabling them to manage estate settlements. Clients include family members, attorneys, financial planners and accountants. The expertise gained through the certification process allows designees to understand the legal requirements and restrictions depending on geographic areas while attempting to bring the greatest return to those involved in the sale. Some of the issues addressed:
- Legal and financial aspects
- The relationship of parties involved in an estate
- The role of the auctioneer with regard to estates
- How to position the client(s) to make the most of the estate settlement
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