3808 Turtle Creek FrontWith another real estate auction coming to Dallas, Texas as the incredible Les Jardins estate designed by Anton F. Korn Jr. is slated to be sold to the highest bidder on April 24, I thought we might want to better understand the real estate auction process. The question arises, who pays for the auction expenses and the agent commissions? I found this great video of Concierge Auction president Laura Brady from Inman Real Estate Connect this past January. As you know, Les Jardins at 3808 Turtle Creek, is listed by Keith Conlon of the Matthews-Nichols group at Allie Beth Allman. The property will be auctioned by Concierge Auctions of New York City, New York, on April 24. In this video, Laura does an excellent job of explaining how Concierge nets an income from the auction process and markets through permission-based marketing. Concierge also charges a buyer’s premium to the winning bidder, which is 10% of the high bid amount. So on, for example, a $5 million dollar home, that could be half a million dollars. But Concierge only charges the premium on the high bid amount less the opening bid. This way, the auction gets an opening bid with each registration, and bidders are incentivized to toss out an opening bid. The higher the bid, the smaller your buyer’s reserve. So if the house sells for $500,000,000, the buyer’s premium is $5,000,000 less the winning bidder’s opening bid. If that opening bid was $3 million, they pay 10% on $2 million or a measly $200,000.

Capiche?

3808 Turtle Creek FrontWith another real estate auction coming to Dallas, Texas as the incredible Les Jardins estate designed by Anton F. Korn Jr. is slated to be sold to the highest bidder on April 24, I thought we might want to better understand the real estate auction process. The question arises, who pays for the auction expenses and the agent commissions? I found this great video of Concierge Auction president Laura Brady from Inman Real Estate Connect this past January. As you know, Les Jardins at 3808 Turtle Creek, is listed by Keith Conlon of the Matthews-Nichols group at Allie Beth Allman. The property will be auctioned by Concierge Auctions of New York City, New York, on April 24. In this video, Laura does an excellent job of explaining how Concierge nets an income from the auction process and markets through permission-based marketing. Concierge also charges a buyer’s premium to the winning bidder, which is 10% of the high bid amount. So on, for example, a $5 million dollar home, that could be half a million dollars. But Concierge only charges the premium on the high bid amount less the opening bid. This way, the auction gets an opening bid with each registration, and bidders are incentivized to toss out an opening bid. The higher the bid, the smaller your buyer’s reserve. So if the house sells for $500,000,000, the buyer’s premium is $5,000,000 less the winning bidder’s opening bid. If that opening bid was $3 million, they pay 10% on $2 million or a measly $200,000.

Capiche?

6002 KetteringI told you weeks ago that Lanny Wadkins’ house in Preston Trails had signed up for auction with Concierge Auctions. There’s no reserve.  The auction is this Thursday, and I will be there, of course, to report. The 9,521 square foot home (five bedrooms, five full and three half bathrooms, a pool, 9-hole putting green and practice area, plus shuffleboard court) has been on the market for a bit at $2.295 million. Kind of funny: I wondered aloud in that post if the home would have sold sooner had the previous agents, all of them seasoned and quite capable, just said it was Wadkin’s home from the get-go. Too often high profile peeps want to keep a “low profile” when they sell their homes, and this is what happens — house sits. And sits. Agents really need to manage their clients better. After all, you are the expert, right? If name-dropping helps sell a home, over-rides a location or other negative, then name-drop for Kripes’ sake, unless you don’t really want to sell it.

After my post, I noted that Concierge kind of opened up and even got a quote out of the owner — this was very smart:

“We completed major renovations to the home in 2004 and really love the larger space that was created. My entire family has enjoyed living in this warm and comfortable home; it was a great place for entertaining and for my boys to hang out with their friends,” stated the seller, Lanny Wadkins. “Our location is ideal – it is in a very safe, beautiful neighborhood near great schools and convenient to absolutely everything, including all of the activity of downtown Dallas. We have enjoyed each year living here, but since our children are grown and I’ve been traveling more, it is time to find new owners who can make this wonderful place their home.”

michael-jordan-house-for-sale-photos-0117-480wmichael-jordan-house-for-sale-photos-012-480w michael-jordan-house-for-sale-photos-0113-480w michael-jordan-house-for-sale-photos-015-480w michael-jordan-house-for-sale-photos-018-480w michael-jordan-house-for-sale-photos-013-480wBut name-dropping has not helped Concierge move Michael Jordan’s home in suburban Chicago, not even TWICE! AOL Real Estate notes that his 56,000-square foot home in Highland Park, Ill. which is haute suburban Chicago, has “failed to sell at auction after the bidding fell short. Jordan spokeswoman Estee Portnoy says nobody offered the reserve price of $13 million for the seven-acre estate in Highland Park, north of Chicago.”

The $13 million reserve was on a home that had been on the market for $29 million in 2012. It has nine bedrooms, 15 full bathrooms, a pool pavilion and a regulation-size indoor basketball court. It also has “gentleman’s retreat,” aka Man Cave, complete with a library, wet bar and the original doors from the Playboy Mansion in Chicago.

Nice, especially the doors. But worth $13 million?

Even Sports Illustrated says that as great as Michael Jordan was on the court, he kind of sucks at real estate:

Once gain, no one was willing to poney up the dough at an auction for his mega-mansion … TMZ Sports has learned.
The 7-acre Chicago compound would’ve gone to literally anyone willing to shell out $13 mil at today’s auction … but yet again, there were no takers on the property.

2900 Deion poolWe know a lot of star athletes who kind of suck at real estate — Deion Sanders has his 29,000 square foot compound up there in Prosper, and still owns a penthouse at The Azure. Well, technically, TwentyOne LLC, whose address is 1280 North Preston in Prosper, is the owner.

Then we know some star athletes who turn every piece of dirt they own into gold. 

In any case, Jordan plans to try try again, just like I do when shooting hoops. The Chicago market ain’t exactly hopping, but there are plenty of rich peeps up there in Highland Park, believe me. Of course, the taxes on that place would give me a heart attack.

The Wadkins deal is going to be interesting. There is no reserve, but you must put your minimum bid in the contract before attending the auction. I would venture to say they have received at least $500,000 in minimum bids. The home is appraised by DCAD at $2,171,310 with $50,000 plus in annual taxes.

I’m thinking it will go for at least a million, you?

 

 

6002 KetteringI told you weeks ago that Lanny Wadkins’ house in Preston Trails had signed up for auction with Concierge Auctions. There’s no reserve.  The auction is this Thursday, and I will be there, of course, to report. The 9,521 square foot home (five bedrooms, five full and three half bathrooms, a pool, 9-hole putting green and practice area, plus shuffleboard court) has been on the market for a bit at $2.295 million. Kind of funny: I wondered aloud in that post if the home would have sold sooner had the previous agents, all of them seasoned and quite capable, just said it was Wadkin’s home from the get-go. Too often high profile peeps want to keep a “low profile” when they sell their homes, and this is what happens — house sits. And sits. Agents really need to manage their clients better. After all, you are the expert, right? If name-dropping helps sell a home, over-rides a location or other negative, then name-drop for Kripes’ sake, unless you don’t really want to sell it.

After my post, I noted that Concierge kind of opened up and even got a quote out of the owner — this was very smart:

“We completed major renovations to the home in 2004 and really love the larger space that was created. My entire family has enjoyed living in this warm and comfortable home; it was a great place for entertaining and for my boys to hang out with their friends,” stated the seller, Lanny Wadkins. “Our location is ideal – it is in a very safe, beautiful neighborhood near great schools and convenient to absolutely everything, including all of the activity of downtown Dallas. We have enjoyed each year living here, but since our children are grown and I’ve been traveling more, it is time to find new owners who can make this wonderful place their home.”

michael-jordan-house-for-sale-photos-0117-480wmichael-jordan-house-for-sale-photos-012-480w michael-jordan-house-for-sale-photos-0113-480w michael-jordan-house-for-sale-photos-015-480w michael-jordan-house-for-sale-photos-018-480w michael-jordan-house-for-sale-photos-013-480wBut name-dropping has not helped Concierge move Michael Jordan’s home in suburban Chicago, not even TWICE! AOL Real Estate notes that his 56,000-square foot home in Highland Park, Ill. which is haute suburban Chicago, has “failed to sell at auction after the bidding fell short. Jordan spokeswoman Estee Portnoy says nobody offered the reserve price of $13 million for the seven-acre estate in Highland Park, north of Chicago.”

The $13 million reserve was on a home that had been on the market for $29 million in 2012. It has nine bedrooms, 15 full bathrooms, a pool pavilion and a regulation-size indoor basketball court. It also has “gentleman’s retreat,” aka Man Cave, complete with a library, wet bar and the original doors from the Playboy Mansion in Chicago.

Nice, especially the doors. But worth $13 million?

Even Sports Illustrated says that as great as Michael Jordan was on the court, he kind of sucks at real estate:

Once gain, no one was willing to poney up the dough at an auction for his mega-mansion … TMZ Sports has learned.
The 7-acre Chicago compound would’ve gone to literally anyone willing to shell out $13 mil at today’s auction … but yet again, there were no takers on the property.

2900 Deion poolWe know a lot of star athletes who kind of suck at real estate — Deion Sanders has his 29,000 square foot compound up there in Prosper, and still owns a penthouse at The Azure. Well, technically, TwentyOne LLC, whose address is 1280 North Preston in Prosper, is the owner.

Then we know some star athletes who turn every piece of dirt they own into gold. 

In any case, Jordan plans to try try again, just like I do when shooting hoops. The Chicago market ain’t exactly hopping, but there are plenty of rich peeps up there in Highland Park, believe me. Of course, the taxes on that place would give me a heart attack.

The Wadkins deal is going to be interesting. There is no reserve, but you must put your minimum bid in the contract before attending the auction. I would venture to say they have received at least $500,000 in minimum bids. The home is appraised by DCAD at $2,171,310 with $50,000 plus in annual taxes.

I’m thinking it will go for at least a million, you?

 

 

UClogo NEW_get-connected-page-on-devices.jpg Utility Concierge

 

You know Utility Concierge, right? It’s my favorite company when it comes to moving. It like DOES EVERYTHING FOR YOU!

When I first met Gabe Abshire, UC’s CEO, I told him he’d be the next Bill Gates. Why? Because he has figured out a way to give consumers the power of choice, for ABsolutely free! And Realtors can totally use this to their advantage now with UC’s cool new tools.

Utility Concierge is a complimentary service that saves real estate agents and their clients time, money and stress during the moving process. You know how God-awful moving is — packing, cleaning, you get it all out of the place and then there’s this whole dang closet. You are so busy packing, hauling, cleaning, who has time or energy to think about utilites?

Well, it’s not just about moving your lipsticks. When you get into that new house, an internet connection does not magically appear. Neither does cable, nor heat, air conditioning or gas. I moved my son into a house once that had no water — we forgot to call to have it turned on.  Utility Concierge is the one company you call and they just literally get the whole damn thing done for you. That’s right, every utility activated and rolling, and it’s completely free. In fact, UC even SAVES clients money: $700 annually on the average.

Now Utility Concierge has some brand new interactive tools to that take the customer experience to a whole new level: new website, mobile apps, and animated video for utility connection services, home maintenance needs, and price comparisons. Truly, like searching for properties on line, the new mobile apps are the next must-have tool for real estate professionals. They will make the process of connecting even simpler.

That’s because Gabe Abshire, the genius behind this company, says his company’s goal is all about simplicity.

“Starting this company, I wanted to make the moving process simpler.  We are here to ease the stress and save our customer’s valuable time,” says Gabe. “Currently, we’ve accomplished that goal.  Our team here at Utility Concierge strives to find even better ways to make the ease of moving into your new home a mind-blowing experience.”

Utility Concierge researches the very best deals on all utility services for both new homeowners and clients in an area who wish to compare current market rates. Essentially a private Utility concierge, the company presents all possible services and rates, giving each client the power to chose, and thus make an educated decision regarding their providers.

Put simply, you make the selections, Utility Concierge makes the connections.

Utility Concierge then goes the extra mile in customer service by making all the appointments and providing the client with an itinerary of dates and times for service connections.

This amazing service is currently free of charge if referred by a real-estate professional! If you are an agent, I cannot imagine a more powerful way to endear yourself to a client by this simple (and free!) action: send your client to his own personal Utility Concierge.

The company’s client base has grown 154% in the past year, while staff has doubled. Also, Utility Concierge has doubled its partnerships in the real-estate industry, with agents from Allie Beth Allman and local Keller Williams and RE/MAX offices signing up. The Utility Concierge territory reaches all major markets in Texas and will soon become available in neighboring states.

“The new website clearly shows the vision and culture developed over the past four years.  Our culture is fun and all about growing each other personally and professionally, which in turn makes Utility Concierge successful, ” says Abshire. “The mobile apps are the next must-have tool for real estate professionals making the process even simpler.”

Utility Concierge works with a variety of professionals in the real-estate industry. They are always looking for new partners who possess the same values and want to offer their clients a higher level of service. Contact Utility Concierge to find out how to simplify your life. Call (972) 884-4850 or email info@UtilityConcierge.com or download the app at an iPhone App store by searching Utility Concierge.WHEEL OF SERVICES.png Utility Concierge

 

M Mansion exteriorChampagne, hors d’oeuvres, strolling through a 12,000 square foot mansion on three acres… really, buying real estate should not be this fun. But it was so fun and so fast, so very very fast. The M Mansion at North Forty Place opened at 4:oo p.m. Thursday afternoon for cocktails and to let the bidders, all who had been pre-approved by ConciergeAuctions.com (read: good for the money) and who had put up a $100,000 cash bond, mingle and tour. I checked the list of attendees — most were Preston Hollow agents and a few other well-known faces, like Clay Stapp who had the winning bid buyer at another Concierge auction last year, Champs D’Or. I saw Champs’ buyers names on the auction list, Zaf and Zeshan Tabani. Rustin Smith was there, principal of Rustin James Realty, with a hot potential buyer; Kyle Rovinsky; Kyle Crews, Missy Woehr, Julie Harrison all from Allie Beth Allman; Tucker Blemar was on the list (think they meant Tucker Bomar), as was Susan “Matoozawitz”; Pogir, Jonathan Rosen, Gene Taylor and Lisa Besserer of Briggs Freeman Sothebys were definitely there; Faisal Halum was on the list; Mike Brody; Kim Gromatzky from Dave Perry-Miller and her daughter were there, too — more on them later. And of course listing agent/broker, Rogers Healy. Then there were the bidders. All told, about 53 were expected or had registered, been vetted and plunked down $100,000 to participate in the bidding. Of course, everyone who drove up to the mansion was screened by the valet parkers: if you were not on the list, you did not go through the gates unless, maybe, you were Donald Trump.

M Mansion Kyle R. M Mansion Briggs & Rustin M Mansion MissyUpon arrival you signed in, and Concierge explained how they had land lines in the house, house phones for agents to use to call their clients with none of that cell phone fuzz. This was to guarantee a clear, open line of communication for agents. There was also a pre-auction charity auction of a Mario Andretti Driving Experience that went for $1900.

The auction got underway at about 6:15 p.m. with a little talking up of the home’s attributes –

“This is the opportunity of a lifetime,” said auctioneer Frank Trunzo of Tampa. “This jewel is on the market for $12 million.”

They hoped to break $6 million.

“This is an absolute auction,” said Trunzo.  “We are not here to appraise it, we are here to sell it. ”

There was also no reserve, or minimum bid, which is highly unusual in a multi-million dollar house auction.

The actual opening bid was $2 million — that is, someone was willing to plunk down $2 million right out of the gate.

“Two and a two and a two,” said the auctioneer.

M Mansion TrunzoFor a few minutes I thought perhaps that would be it — and I had this gnawing feeling — why am I sitting here and not bidding? Was I missing out on the bargain of the century?

But paddles were quickly raised and it was $2.5. Did I hear 3? Yes, $3 million. Three three three. $3.5 anyone? Then four.

We spent more time on four than any other number. Someone snagged it, then Trunzo inched the price up to $4.2. Remember, he said, this is a 12 million dollar property. Like, come on folks, what’s wrong with you? $4.250? Anyone? Anyone out there? $4.5.

A paddle was raised for $4.5. It was the most tense moment of the event –at $4.5. You could have heard a pin drop in a room of 40-plus. M Mansion phone bidderOne of the Concierge peeps was on the land line phone with a client, as were many of the agents — Rustin, Clay — and she asked for time. Trunzo gave us a 5 minute break.  We came back to our seats and picked up at $4.5….$4.6…$4.7…$4.6? Oh how Trunzo tried and tried to get that number up. If someone in the room had offered a dime over $4.5 million, I think they would have gotten it.

Going, going, gone! $4.5 million dollars.

I was sitting directly in front of the new owners of The M Mansion, who were a little stunned.

“I’m going to stay in Preston Hollow,” he joked, “she will live here.”

They have three daughters. Earlier I had teased them that they would save so much money on wedding venues if they bought the house — my son got married at the M Mansion last year, and it was magical. The home was a favored local venue for weddings and parties.

The new owners were quickly whisked off to sign away documents confirming the sale. They were to pay $4.5 million plus 10 percent to Concierge to cover marketing fees. So they really paid $4.95 million in all. The (beaming) agents, Kim Gromatsky and Rogers Healy, would get their commissions out of the sale price. In the end, the Sellers would net a little over $4.2 million.

My impression was that the Sellers were not nearly as happy as the buyers, had hoped to get a couple million more perhaps, but they were happy to have it all over and done with. That’s the beauty of auctions — none of this drawn-out process of showings and staging and house prep and drawn out negotiations: by 6:39 p.m. the house was sold.

$4.5 million in less than thirty minutes.

M Mansion champagneConcierge handed a big bottle of champagne to the new owners and waiters brought out trays with glasses of bubbly and more hors d’oeuvres.  We wandered around the house for a last gander, drinks in hand, as the new buyers phoned their children with the exciting news: we are the new owners of the M Mansion!M Mansion buyers & mce

 

 

Later today, the venerable PR firm of Rubenstein Public Relations will release this press release with more details, the official details, of Friday’s sale of Champ d’Or. As I told you yesterday, we know Champ was swooped up by a Dallas family with international ties (read: jet setters) and I have just learned that Clay Stapp was the buyer’s rep.  As I may have explained before, just because a home sells at auction does not mean the realtors are left out. This firmly plants Clay on the scene as a leading Dallas broker and agent, and signals, I think, a real changing of the guard.

Everyone’s in their morning meeting, and something tells me champaigne is being poured doen on Cedar Springs. Two of the happiest agents in town today? Clay Stapp and Joan Eleazer!

Here’s the release:

AUCTION OF ONE OF THE NATION’S MOST SPECTACULAR HOMES, A 48,000-SQUARE FOOT FRENCH CHATEAU ON 39 ACRES NEAR DALLAS, TEXAS, A SUCCESS

Concierge Auctions & Briggs Freeman Sotheby’s International Realty produce monumental sale

DALLAS, TX – April 2, 2012 – An exquisite, 48,000-square-foot luxury mansion located on 39 acres, just 45 minutes north of Dallas, was successfully sold at auction, Concierge Auctions has announced. Following 433 auction inquiries, over 500 showings and over 10,000 website visitors, the estate, named Champ d’Or, which translates to “Field of Gold”, was sold in cooperation with listing agent Joan Eleazer of Briggs Freeman Sotheby’s International Realty.

The buyer is based in the Dallas area with international ties and is represented by Clay Stapp of

CLAY STAPP+CO. Their name and the purchase price are confidential.

“It is a remarkable achievement to have sold this estate — and particularly to have done so in a five week time span,” stated Robbie Briggs, Broker and Owner of Briggs Freeman Sotheby’s International Realty. “Champ d’Or is so unique that after years on and off the market with various brokerage firms, we knew that adding Concierge Auctions to the equation was the right move. The Briggs Freeman Sotheby’s International Realty team and Concierge Auctions collaborated to create a comprehensive marketing and public relations platform and ensure we identified every possible buyer. Our efforts attracted interest from around the world and instilled the urgency necessary to produce this successful transaction.”

“From public relations exposure including the Wall Street Journal, Forbes, CNBC, Inside Edition and more; to creative events such as a dinner with Sotheby’s International Realty owners from around the world and exclusive preview tours attracting over 500 attendees; to widespread global advertising, our outreach for this auction was unbelievable,” stated Eleazer. “We left no stone unturned.”

Modeled after the Vaux-le-Vicomte chateau in Paris, Champ d’Or is one of the grandest residences in the entire country. The property features endless unique amenities including a two-story mahogany library; a conservatory; two elevators; multiple staircases; a master suite with a steam room, hair salon, two-story Chanel-style “her” closet, an indoor lap pool and an exercise room. The entertaining prospects are endless, thanks to veranda seating for up to 450 people; a catering kitchen; a grand ballroom; an outdoor pool and pool house; a tennis court; an indoor bowling alley and racquetball court; a movie theatre; a wine room; a tea room modeled after New York’s Tavern on the Green; a commercial laundry room; and a 20-car garage.

“Champ d’Or is an incredible and unique property, and there was no doubt this auction presented a great opportunity,” stated Stapp. “My clients are experienced with buying at auction, and we were all impressed by Concierge’s execution. They are excited to be the next owners and look forward to living in and enjoying the home with their family.”

“We spent over a year researching auction firms before choosing to work with Concierge,” stated the seller, Alan Goldfield. “Ultimately I selected Concierge because they are the most skilled firm in the country in dealing with ultra-luxury homes, and their entire team is impressive. It feels great to have the property sold, and we are happy to be moving on with our lives and to have found a family who will love Champ d’Or as much as we have.”

“This is undoubtedly one of the most monumental property auctions ever completed in the

United States,” stated Laura Brady, Vice President of Marketing for Concierge Auctions.

“Champ d’Or is without comparison, so it was similar to selling a one-of-a-kind piece of art. Our auction platform is ideal for remarkable properties such as this — to identify interest and drive the highest price in an expedited period of time. I am thankful for the tireless efforts of our team and for our partners at Briggs Freeman Sotheby’s International Realty, and I wish both our buyer and seller much happiness as they celebrate this transaction in the days ahead.”

 

As I told you either late last night (I blog into the wee hours) or early this morning, Champ D’Or, arguably the most significant piece of real estate on the market in the greater Dallas area, will be sold at auction March 30. It has been on the market for ten years. The auction will be conducted by a New York City-based house, Concierge Auctions, right here in the Lone Star State, AT Champ D’Or. Do not think this will be a circus: only qualified buyers will be allowed in the gates. I pride myself in giving you news before it is news, but the press release is not yet written, though Rubenstein Public Relations  will be handling PR, and the website for Champ is under creation as we speak. So all I can tell you at this point is that you can see the property live on the Concierge site next Thursday. While you are at it, check out the other goodies Concierge has to offer, including one of my favorite of all ski spots, Spanish Peaks at Big Sky Montana. I cried when I heard that Spanish Peaks had filed Chapter 7, but Concierge is auctioning off some of the famed ski resort’s glorious residences. (Tune into SecondShelters.com soon for more on that bankruptcy.)  Oh, Concierge is also auctioning a home at the venerable Yellowstone Club, too.

Get the idea that Concierge Auctions only deals in the highest of the high end properties? Bingo. Here’s what Laura Brady, Vice President of Marketing at Concierge, told me today: Champ’s main estate with 40 acres of land will be auctioned as one package. Another 37 acres with Swisher Road frontage, which is zoned commercial, will be auctioned as a second package, but buyers could, of course, knit the two parcels together for an almost 80 acre spread.  I have long thought Champ would make a terrific mixed-use something or other, maybe a rehab facility for sex addicts (we have a lot of those in Texas, after all) or alcoholics or other erstwhile addictions. Or I have always thought it would make a great plastic surgery center, though my husband tells me it is quite involved to outfit a surgical suite that lives up to accreditation by organizations such as The Joint Commission. It’s a little more involved than a couple bottles of Clorox and booties. Still, if they could build a small operating room with all the patient safety bells and whistles, then use the house as a recuperation center, what a great place to go get a face lift or boob job! You are 30 minutes from Dallas, close but far enough away to hide until bruising subsides. And just think, when you are ready to bowl after a boob job, you are ready to tackle the world!