The condo-conversion developer of the Summit Park Condominiums in Summit, NJ, noticed sales were slowing and he had 50+ condominiums left to sell. He hired our team to execute a bulk sale, retail, by selling all of the remainder of the units to individual buyers on a specific date.
We publicly offered for sale only 20 units (artificial scarcity), with 10 to be sold Absolute regardless of price.
The six-week auction program produced the following results:
- 1000+ Inquiries
- 1000+ Open House Attendees (Parties)
- 300+ Due Diligence Packets Sold
- 200+ Bidding Parties
- 100% of the units Sold
Sold out the entire project
The Seller was pleased with the results, as he chose to sell out his entire project with us at the auction. He subsequently hired us to sell another project for him in NJ.