The San Carlos Education Foundation is holding its annual Spring Fling event, on March 2nd. This year’s theme, Hats Off To Education, promises to be another fantastic evening where attendees can bid on hundreds of items in a silent auction and can participate in a Live Auction which has plenty of unique and worthwhile items. For those of you who are not aware of what exactly the San Carlos Education Foundation does or their role within our schools, I would encourage you to visit their website by clicking here. Essentially, SCEF charges itself with raising enough money each year to provide services to our San Carlos schools that otherwise we would do without. This year the target goal is $2,200,000. The money SCEF raises is absolutely crucial in maintaining a high level educational experience for San Carlos students.
Thinking of Selling Your Home in the Next Two Years?
This will be my seventh consecutive year of offering a Live Auction donation item at Spring Fling. Over the past six years, this single item has raised more than $50,000 for San Carlos schools. The beauty of this item is that the sellers get a break on selling their home and the schools get a meaningful donation. Here is how it works:
I will sell the winning bidder’s home for a listing side commission of $1. All marketing materials and other standard costs are donated by me as well. The winning bidder is responsible for paying the buyer’s brokerage and incidentals for a total of 2.75%. So how does this benefit the winning bidder and SCEF? Take a look at the example below:
Winning bidder purchases the item at Spring Fling for $10,000 (which has been about the average winning bid for the last six years). That $10,000 goes directly to SCEF. The average home price in San Carlos right now is about 1.1M. If the winning bidder were to list their home under a standard listing agreement and sell it at 1.1M, their brokerage fees would be about $55,000-$66,000, assuming a 5-6% standard listing contract.
Under this terms of my example above, the winning bidder would pay $10,000 to acquire the item and then 2.75% of the sales price (1.1M) of their home for a total of $40,250. This would equal a savings of $14,750-$25,750.
To summarize: SCEF would net $10,000 and the winning bidder (under the example above) would save between $14,750-$25,750 on the sale of their home.
Please consult the Spring Fling Live Auction Catalog once it is available for all of the details. I feel very confident in saying that the last six winning bidders of this item were extremely pleased with the service and the donation to the school. Of course, I am happy to discuss the details of this Live Auction item with anyone ahead of the March 2nd event.