Banco Popular November 30 2009 Proposal Presentation For Galloway, Etc

J P. King Auction Marketing

Presentation for

Banco Popularby

Richard Moravek and Ray Treco

954-374-9978November 30, 2009

J P. King Auction Marketing

Presentation for

Banco Popularby

Richard Moravek and Ray Treco

954-374-9978November 30, 2009

Auction Marketing Presentation

for

Banco Popular

Auction Marketing Presentation

for

Banco Popular

Growing PopularityGrowing

Popularity

What’s in it for you?

-- Selling Quickly-- No

Contingencies --Market Value $

What’s in it for you?

-- Selling Quickly-- No

Contingencies --Market Value $

TIMEIs it important to have your real estate Sold

and closed fast?

With an agreementtoday , we could have a

Late January 2010 auction,

with closing in 30 days or less.

TIMEIs it important to have your real estate Sold

and closed fast?

With an agreementtoday , we could have a

Late January 2010 auction,

with closing in 30 days or less.

J.P. King Auction Company’s Experience Produces ResultsJ.P. King Auction Company’s Experience Produces Results

Complete Sell-outs for Top Dollar!

Complete Sell-outs for Top Dollar!

J P King’s Auction Program is Proven, Reliable & Repeatable

Grand Opening Events, Inventory Reduction & Close-Out Events

How A J P King Auction Works

• Multifaceted Marketing Campaign

• Targeting End Users

• Highly Competitive Bidding Event

• Most Result-Oriented Sales Program

“The auction process accomplished our goals for us. We were able to maximize on the time value of money now…We wouldn’t hesitate to use a J P King auction again.” - Daniel O’Donnell

The philosophy behind J. P. King’ssuccessful marketing program

The philosophy behind J. P. King’ssuccessful marketing program

Exposure

Concentrated Magazine & Newspaper Advertising

Direct Mail Campaign

Internet Promotion

Outbound Telemarketing Plan

Web Media Placement & Public Relations

Signage, Billboard & Banners

Concentrated Magazine & Newspaper Advertising

Direct Mail Campaign

Internet Promotion

Outbound Telemarketing Plan

Web Media Placement & Public Relations

Signage, Billboard & Banners

ExposureExposure

ExposureExposure Web Media Placement & Public

RelationsWeb Media Placement & Public Relations News releases generate coverage in local, regional and

national traditional and electronic media to promote the auction, as well as positioning the auction

J P King Auctions are frequently covered by such media as PR News Wire, NPR, CNBC, WSJ, New York Times, Forbes, Crain’s, Chicago Tribune and Bloombergs

News releases generate coverage in local, regional and national traditional and electronic media to promote the auction, as well as positioning the auction

J P King Auctions are frequently covered by such media as PR News Wire, NPR, CNBC, WSJ, New York Times, Forbes, Crain’s, Chicago Tribune and Bloombergs

ExposureExposure Newspaper Coverage –

Regional andLocal Approach :

Wall Street Journal--SoutheastMiami HeraldMH Spanish EditionSouth Dade News LeaderSouth Florida Biz’ Journal Orlando SentinelKissimmee Papers

Newspaper Coverage –Regional and

Local Approach :Wall Street Journal--SoutheastMiami HeraldMH Spanish EditionSouth Dade News LeaderSouth Florida Biz’ Journal Orlando SentinelKissimmee Papers

Color Brochures and Color Postcards may be mailedTo:Exclusive database of prospective buyers consisting of:

Targeted Individual Income Strategically purchased mailing list Area Brokers Local Business People

Direct Mail and Database

J.P. King has theJ.P. King has the most extensive most extensive list of list of qualified qualified

buyersbuyers

ExposureExposure

ExposureExposure

Internet PromotionInternet Promotion

Voted #1 web site in the auction industry Approximately 50,000 visitors per month Advertising on other sites such as

luxuryrealestate.com

ExposureExposure

Internet PromotionInternet Promotion

Builders Association(s) Websitessnowbirds.orgviviun.comjpking.comcampaigner.comcondo.comnewcondosonline.comGoogle ad wordsLoopnet-- feature adMiami and Orlando/Kissimmee area websites

Builders Association(s) Websitessnowbirds.orgviviun.comjpking.comcampaigner.comcondo.comnewcondosonline.comGoogle ad wordsLoopnet-- feature adMiami and Orlando/Kissimmee area websites

Internet Campaign Including , not limited to, the following sites:

ExposureExposure

Television and RadioTelevision and Radio

TV and Radiomay be designed to advertisethe auction at on Local / Regional Television and Radio

TV and Radiomay be designed to advertisethe auction at on Local / Regional Television and Radio

Outbound Telemarketing

CampaignAn aggressive outbound campaign to targeted buyers, including your prospect list, area real estate brokers and select portions of J P King’s prospect list

Exposure

ExposureExposure Professional Photography &

Virtual TourProfessional Photography & Virtual Tour

To Showcase the properties in the very best light, professional photographs will be taken & utilized in all media

Additionally, Virtual Tours will be available on-line to present the property to individuals who may be interested in purchasing long distance and will be an effective reminder to those who have previewed the property prior to the auction but are unable to attend on auction day and will participate remotely

To Showcase the properties in the very best light, professional photographs will be taken & utilized in all media

Additionally, Virtual Tours will be available on-line to present the property to individuals who may be interested in purchasing long distance and will be an effective reminder to those who have previewed the property prior to the auction but are unable to attend on auction day and will participate remotely

Signs ,Billboards and Banners

Attractive Signs will be strategically placed on the Property.

A Billboard and Banners may be secured in the Area.

Exposure

Educate

Project Management

Auction Information

Extensive Buyer Due Diligence

Bidder/Broker Seminars

Property Tours

Project Management

Auction Information

Extensive Buyer Due Diligence

Bidder/Broker Seminars

Property Tours

EducationEducation

EducationEducation

Project ManagementProject ManagementYour project manager: Oversees day-to-day details of the event Gathers, manages and distributes all

auction information Maintains communications with you and

provides written status reports

Your project manager: Oversees day-to-day details of the event Gathers, manages and distributes all

auction information Maintains communications with you and

provides written status reports

Auction Information Receives all incoming calls and enters into database

Follows up on all inquiries regarding the properties Initiates an aggressive outbound campaign to previous bidders/buyers as well as brokers

Education

EducationEducation

Property Information PackageProperty Information Package The PIP is one of the most important elements of all our

educational efforts Provides and documents property-specific due diligence

information Online with customer tracking and hard copy Serves to make buyers comfortable with the property and

helps ensure a smooth closing

The PIP is one of the most important elements of all our educational efforts

Provides and documents property-specific due diligence information

Online with customer tracking and hard copy Serves to make buyers comfortable with the property and

helps ensure a smooth closing

Bidder & Broker On- Line Seminars

Bidding & Registration Procedures Educate on ownership structure Sample mock auctionClosing proceedings

EducationEducation

Pre-Sale InspectionPre-Sale Inspection

Experienced site directors will work onsite during the scheduled preview prior to the event to educate buyers on the ownership and location benefits of the property.

Experienced site directors will work onsite during the scheduled preview prior to the event to educate buyers on the ownership and location benefits of the property.

Closure

Your Auction Day Event

• Staffed by J.P. King Personnel

• Will Take in a upscale hotel ballroom

• Will Include Hospitality & Entertainment to set the Tempo and Mood

• Date Certain Event –Closed in 30 Days

Broker Incentive Program J P King has developed the most effective broker participation program

Buyer’s Premium Funds J P King and Buyer Broker commissions

Retail Auction Program J P King has perfected a highly sophisticated

plan for offering the units on auction day

Broker Incentive Program J P King has developed the most effective broker participation program

Buyer’s Premium Funds J P King and Buyer Broker commissions

Retail Auction Program J P King has perfected a highly sophisticated

plan for offering the units on auction day

ClosureClosure

Buyer Brokers Program Most effective Broker Program in the industry

Paid directly by J. P. King from its commission Heightens broker awareness of the opportunity presented by the auction Encourages broker participation in the events to raise auction prices

Closure

J. P. King Auction Company

has been named the exclusive

auctioneer for

Who’s Who in Luxury Real Estate®,

whose member brokers represent more

than 100,000 premier agents throughout

the United States and abroad.

“As the exclusive auctioneer for Who’s Who, J. P. King has repeatedly demonstrated the value of the auction method and their commitment to the highest level of service.”

~Brian Losh CEO at Who’s Who in Luxury Real Estate®

The High Bidder’s Choice Method:The most effective bidding method to

maximize price

All bidders are forced to compete to win

Forces all bidders to compete against each other in each and every round of bidding It significantly stimulates competition and establishes higher prices

Broadway Station

Broadway Station Myrtle Beach, SCMyrtle Beach, SC

$4.9 Million

$4.9 Million

Registered Bidders 124

Property Tours 208

Bidders from 14 states and Canada

registered at the auction


Property Tours 208

Bidders from 14 states and Canada

registered at the auction

The more properties we can sell on a single round of

bidding the greater the overall average price, in

addition to allowing more properties to be sold in the

auction

Back Bay- Sold 86 units in 27 rounds

Holiday Harbor - Sold 66 units in 20 rounds

Oak Terrace – Sold 37 units in 18 rounds

Atlantic City - Sold 33 units in one round

MastYard West - Sold 40 units in only 21 rounds

Ocean Point - Sold 23 units in 13 rounds

CentreWalk- Sold 30 units in 13 rounds

Camino Real - Sold 42 units in 13 rounds

A J. P. King Auction has repeatedly proven to sell large quantities of inventory through a single

eventPortside Condominium 103 unitsLake Park Condominium 210 unitsPittsburgh Cooperatives 135 unitsStillwater Resort 324 properties Missouri Condo Portfolio 151 unitsBackBay Condominium 86 unitsHouston/Dallas Portfolio 129 housesThe Wilderness 86 lotsSugar Beach Condominium 100 unitsGreenCroft Condominium 87 unitsGreater Minn. Portfolio 80 unitsVermont Portfolio 113 propertiesNew Orleans Gala 212 houses

What drives a successful auction?

The type of auction must be consistent with the buyers’ perception of their being able to purchase the property at their own price

Increasing the number of motivated bidders

Bidders aggressively pursuing the opportunity to purchase your property at their own price

The Key to a Engaging the Buyers

Selling on an Absolute basis (to the highest bidders without a minimum bid or reserve)

•Results in an overall increase in overall response (both inquiries & property tours) from Prospective Buyers

•The total attendance of bidders is increased

•Resulting in Higher prices for the property

The winning bidder must deposit a 10% down payment on the day of the auction

Buyers sign a contingency-free agreement

Buyers close within 30 days

The winning bidder must deposit a 10% down payment on the day of the auction

Buyers sign a contingency-free agreement

Buyers close within 30 days

Terms of the Sale

AUCTION DAY

The Auction Event

“…The most important aspect of the auction for us is the dollar result, which we feel adequately reflects the current real estate market in our area.” Peter G. Florey, Benjamin Development Co., Inc.

Financial Arrangement

J. P. King’s receives the 10% Buyer’s Premium paid by the buyer.

J. P. King funds up to a 2% Buyer Broker commission through ourBroker Incentive Program.

The Seller is responsible for the funding the exposure, education and closure expenses in the amount of $178,223.00, which represents the Engagement Fee for this auction.

Real Estate

Track Record

Real Estate

Track Record

Clearwater Cay Club Clearwater Cay Club Clearwater, FloridaClearwater, Florida

$3.4 Million

$3.4 Million

States responded 24

Property Tours 95

States responded 24

Property Tours 95

Liberty Square & Hometown VillageWisconsin $5.4

Million100%

Sellout!60 properties

sold & closed!

147 registered bidders

Rhapsody at Lake Delton & Delton Point $7.8 MillionWisconsin Dells, WI

100% Sellout!45 units

128 registered bidders from 13

states

Over 400 in attendance auction

day!

North Georgia ShowcaseAtlanta, GAAtlanta, GA

$8.7 Million

$8.7 Million

Achieved 91% of Broker Price Opinion

100% Sellout!

39 properties were offered

100% Sellout!

39 properties were offered

The Nettleton CondominiumsThe Nettleton CondominiumsMemphis, TNMemphis, TN

$5.5 Million

$5.5 MillionRegister Bidders

187 Register Bidders

187

Over 450 property tours!


100% Sellout!

30 properties offered

30 properties offered

Bank Owned PropertiesFlorida, NC, and AL Gulf CoastFlorida, NC, and AL Gulf Coast

$7.7 Million

$7.7 Million

Achieved 102% of the reserve

prices!

Achieved 102% of the reserve

prices!



24 Properties sold & closed24 Properties sold & closed

Summer House in Old Ponte VedraSummer House in Old Ponte VedraPonte Vedra, FLPonte Vedra, FL

$2.3 Million

$2.3 Million

Register Bidders 95

Property Tours 167

Register Bidders 95

Property Tours 167

The Sage CondominiumAustin, Texas

$3.7 Million$3.7 Million


Website Views 7561


The Enclave at Eagle HarborJacksonville, Florida $4.0

MillionRegistered Bidders 85Property Tours 187

Sarasota CollectionSarasota, Florida

$19.4 Million

$19.4 MillionProperty Tours

26Web Inquiries17,448

Vista Hills CondominiumsVista Hills CondominiumsAustin, TXAustin, TX

Registered Bidders 42Web Inquiries 3353

“Your firm did everything you promised, and the units sold at prices which met our expectations.”

~ Scott Plantowsky, Developer

The Hamptons at Tampa PalmsThe Hamptons at Tampa PalmsTampa, FLTampa, FL $5.9

Million$5.9

Million171 registered

bidders from 15 states!

$855,948.50

$855,948.50

Talladega Development LandTalladega, Alabama


Sundance Trails Ranch

Okeechobee, Florida $1.8 Million

Registered Bidders 40Inquiry Calls 79

Golden Spring DevelopmentGolden Spring DevelopmentOxford, AlabamaOxford, Alabama $3.3

Million$3.3

MillionRegistered Bidders 41Inquiry Calls 251

Jones EstatesJones Estates

Selma, AlabamaSelma, Alabama

$1.8 Million

$1.8 Million


Web Inquiries 3059


Web Inquiries 3059

Crystal ShoresCrystal ShoresNorth Sound, Grand CaymanNorth Sound, Grand Cayman $3.3

MillionInquiry Calls 108Web Inquiries 2,150

$2.75 Million

$2.75 Million

Plum Creek DevelopmentRapid City, South Dakota

FDIC FDIC Houston and Corpus Christi, TXHouston and Corpus Christi, TX

$4.1 Million

Commercial, Residential, and Land Properties

13 states from New Jersey to California

Resolution Trust Corporation

“… We must have set a world record for attendance at an auction event.”

“… The tight timing, difficult properties, and logistical problems were major obstacles that your team overcame.”

– E. Mark GlannonRTC Metro Office, NJ

37 auctions, over 2,000 assets, 13 states

$300,000,000 – 91% of Broker Price Opinion

8 States from California to FloridaOcwen

$86 Million

$86 MillionWith over

1900 Propertie

sthrougho

ut 8 states

New York, New Jersey and Connecticut

Berkeley / Ontra

“… We are highly pleased with the auction results as well as the response to the many stages of marketing utilized during this auction process.”

– Sara A. WhiteOntra, Inc.

over 700 assets, 3 states$50,000,000 – 90% of Broker Price

Opinion

Farmers & Merchants Farmers & Merchants Gulf Shores, AlabamaGulf Shores, Alabama

Over 50 Commercial &

Residential properties and

1000 acres

Over 50 Commercial &

Residential properties and

1000 acres

Bank Liquidation Sale

Bank Liquidation Sale