To whom it may concern,

I have been a principal in the creation and sales of multifamily real estate since 1983. In that time varying methods and means have been available to the development professional to “move the goods”. It comes down to a simple matter of statistics. For X number of qualified prospects to convert to Y number of sales - the rules are inalienable. What can tilt the market in your favor is to capture more of the qualified prospects and let them perceive that their opportunities are limited. There are a variety of techniques in this “taking the opportunity off the table”. The best way to capture the audience and leave them with the impression that they need to act or they loose out is the Velocity Marketing Services auction techniques that have been so successfully executed in the last year or so. Time and again we have witnessed, and in some cases been party to, moving a significant percentage of our inventory faster than a conventional environment, and at price points that support value.

In our particular case the Velocity Marketing Services auction program did not get us “all the way home” – but it got us close enough that the remaining units were sold and conveyed by Velocity’s parent company TCC before we finished conveying the auction units. This was the definition of a successful sales effort because the inventory had been reduced dramatically at strong sales numbers – allowing the sales force to move the remaining units with pricing that made sense for Buyer and Seller. All in all we saved several hundred thousand in carry costs over conventional 2 or 3 sales a month. This type of activity and level of absorption could only be accomplished by this compressed sales effort of Velocity Marketing Services.

Steven N. Zieff
21 Center Street
Weston, MA 02493