Recently, a Savage family engaged Coldwell Banker Burnet to help sell their home. The five-bedroom home, on an attractive acreage lot, initially attracted some attention, but generated no offers. Because the owners had already moved into another home, they were saddled with two mortgage payments, two utility payments, two insurance payments and two property tax payments—thousands of dollars a year just to maintain their unsold property.
 
Fearing they might lose the listing and all the marketing dollars they'd spent on the home, CBB agents Greg and Mary Schweich talked with Lawrence Auctioneering about auction. Lawrence and the Schweichs presented the idea to the home owners who loved the idea.

The entire auction process took less than two months. The client paid all the marketing fees which included a number of display newspaper ads in the Star Tribune and community newspapers; two guerilla marketing efforts at community high school events; and distribution of color flyers to area CBB and other realty offices. The Schweichs and Lawrence also hosted several open houses prior to the event.

On auction day, prospective buyers arrived with $10,000 down payment checks and lenders' letters in hand. Bidding was brisk. Within days of the auction, the home owners and high bidder finalized the paperwork. The $670,000 sale successfully closed – the fourth highest selling auction real estate property in the Multiple Listing Service (MLS) for the year.

Lawrence Auctioneering is an Accredited Auctioneer of Real Estate.