LIST YOUR AUCTION HERE!

FLEMINGTON – Fran Brunelle, co-founder of Flemington based Perillo Auction & Liquidation Services, Inc. has opened Accelerated Real Estate Marketing to capitalize on the boom in real estate auctions.

“This is fastest growing segment of the auction market because there are so many benefits,” says Fran Brunelle, Broker of Record and founder of Accelerated. “Buyers, sells and real estate brokers all have something to gain.”

Last year, real estate auctions jumped more than 12 percent, from $14.2 billion in 2005 to $16 billion in 2006, according to Brunelle, a board member of the New Jersey State Society of Auctioneers for the past five years.

The advantages of real estate auctions include:

• Speed. The home sale is immediate and the closing is generally scheduled within 30 days, which benefits both buyers and sellers.
• No commission for sellers. Unlike traditional listing methods, there is a 0% commission to the Seller. At auction the commission is paid by the purchaser.
• Competition. Bidding wars are the rule, not the exception, at real estate auctions.
• Convenience. Pre-set viewing dates mean sellers’ lives aren’t disrupted on a regular basis for showings.
• Price. Traditionally, sellers set a price and buyers negotiate down from there. With real estate auctions, sellers have more of an opportunity to achieve or surpass fair market value.
• Transparency. Buyers know who’s bidding against them and at what price, information that isn’t normally available.
• No contingencies. Real estate auctions are “as is” transactions, which mean sellers can avoid the cost and time involved in doing repairs.

All types of property work well at auction, according to Brunelle, but are particularly good for brokers who are having difficulty selling a particular property. “Every seller, whether they have a residential, commercial or industrial property, hopes for two things – a bidding war and a fast closing. We are experts at obtaining both. Our goal is to accelerate the way real estate is sold in New Jersey, providing our clients with both choice and speed.”

Excitement of the chase

“The auction creates an excitement that doesn’t otherwise exist, and a specific deadline that potential buyers must deal with. People get caught up in the competition and properties sometimes sell for more than market value,” she says, citing two recent examples: a home in southern New Jersey that sold for more than $300,000 above the client’s reserve and an industrial building that had languished on the market for more than a year. It sold in four minutes at a figure well above the asking price."

Charity donations

Accelerated Real Estate will donate 10 percent of the net proceeds to a charity the buyer selects from Brunelle’s list. “I feel strongly about this,” she says. “The auction industry has been very good to me and this is my chance to give back.”

Brunelle is also a real estate broker who has been involved with real estate for almost 20 years. She was previously controller of a commercial real estate firm, where she supervised more than $50 million in properties.

Perillo background

Perillo Auction & Liquidation Services, Inc., established in 1994 provides auction and appraisal services to the manufacturing industry. The company sells more used equipment at auction in the northeast than any other firm. Accelerated Real Estate Marking, LLC. will work in conjunction with Perillo Auction to serve their industrial and commercial clients. Accelerated also has a residential division that will service all of NJ and eastern PA. They are planning two multi-property auctions for later this year.

For more information, call 908-237-9600 or visit www.AcceleratedRE.com