LFC’s Reputation Grows with Successful Auction of Wisconsin Land

. October 27, 2009

Last spring, the LFC Group of Companies, the industry leaders in online auction marketing of commercial and residential real estate, made headlines across the commercial real estate community by successfully orchestrating the U.S. Bankruptcy Court-ordered sale of 120 acres of vacant land in Hallie, Wisconsin. Partnering with the local commercial real estate brokerage Grubb & Ellis | Pfefferle, LFC proved that their unique online auction model and marketing strategy succeeds in even the most stagnant of markets.

When LFC was first contacted by Tom Scheuerman, Managing Broker at Grubb & Ellis | Pfefferle, the property had been sitting on the market for years. Recognizing that the sum of the parts was greater than the whole, LFC made the crucial decision to divide the 120-acre property into four individual parcels. This allowed many more bidders to participate, resulting in higher sales prices for each parcel.

“The bankruptcy court and attorneys wanted a quick sale, so I needed an alternative strategy,” said Scheuerman. “I’d known LFC to be a progressive online auction company with a proven track record of success, and felt this was the right opportunity to work with them. It was definitely the right move. They sold all four properties in less than three months, and at prices that far exceeded anyone’s expectations.”

LFC achieved such remarkable results by creating a competitive bidding scenario around a convenient and fair online auction platform. “Considering the very difficult market conditions, it only made sense to split the properties into more desirable, flexible parcels for buyers,” said Shawn Miller, LFC’s Director of Sales. “The combination of that and our patent-pending Last Call® bid extension process helped us succeed, attesting to the power and effectiveness of our online auction model.”

LFC prides themselves on their versatility. Whether it is vacant land in Wisconsin, office/retail condominiums in Florida, or even a former Utah ski resort, LFC’s innovative auction marketing strategy and proven online platform continue to yield astonishing results where others have failed.

LFC Group of Companies

For more than 30 years, the LFC Group of Companies have served numerous Fortune 500 companies, real estate developers, financial institutions and government agencies by auction marketing thousands of commercial and residential properties with an aggregate value in excess of $5 billion.

Category: Auction News

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