Customer

Trenton, NJ

Population

83,203

System Replaced

Manual Paper and single-use software

GP Modules Deployed by Trenton

  • Real Estate Auctions
  • Business Improvement Incentive
  • Business Registration
  • Construction Permit
  • Contractor Registration
  • Demolitions Management
  • Dumpster Permit
  • Employment
  • FOIA - OPRA
  • Non-Resident Parking Permit
  • Planning and Zoning Board
  • Rental Property Registration
  • Report a Concern
  • Street Opening
  • Summer Camp Pool Permit
  • Tennis Court Reservation
  • Vacant Property Registration
  • Vital Request
CUSTOMER SUCCESS

ONLINE REAL ESTATE AUCTION

New Jersey’s capitol city - a GovPilot client since 2016 - has sought for years to revitalize neighborhoods and generate revenue by auctioning residential, commercial, and municipal properties. During the COVID-19 pandemic, GovPilot hosted a successful online auction resulting in $4.15 million in revenue generated in one day, on the sale of 49 properties. 

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Challenge

Real estate auctions have long been a component of Trenton's economic development and revenue generation strategy. Amid an unprecedented public health and economic crisis, Trenton’s Department of Housing and Economic Development (HED), sought an effective way to generate meaningful municipal revenue and revitalize neighborhoods amid the COVID-19 pandemic which rendered traditional indoor, in-person auctions all but impossible.

Solution

GovPilot's Real Estate Auction Services worked with officials from Trenton to host a fully online real estate auction and market it to residents in order to drive registration and participation. 

GovPilot deployed geotargeted, paid social media ads and a press release to drive awareness of the upcoming auction, and produced lawn signs for Trenton officials to place at each property. Registrants were required to place a $1,000 refundable deposit via an online payment system hosted on its platform. In total, the auction received 372 registrants (who each deposited $1,000), and 284 unique bidders participated - a 278% increase over the 75 participants in the previous auction hosted by Trenton in 2019 which was in a hotel ballroom, and therefor limited by room capacity.

The auction, held over the course of one day, listed 49 properties - a combination of vacant lots, residential, and commercial buildings. Each property listing on GovPilot's auction platform included external and internal images along with Google Streetview. The listings were also tied to a GovPilot GIS map which displayed an Automated Valuation Model (AVM) for each property so that prospective bidders could compare and contrast similar properties within a given radius of their choosing. 

Despite a severe economic downturn brought on by an unprecedented public health emergency, the results of Trenton's real estate auction speak for themselves:

Trenton Auction Stats-1

Results
$4.15 million
In one day, Trenton was able to raise significant revenue which will support its municipal budget.
100% Sold
Winning bids were placed on all 49 properties auctioned by the city of Trenton.
372 Registrants
All registrants were required to place a $1,000 deposit. Only 75 participants attended the last indoor auction in 2019.
Owner Occupied
Bidders agreed to a 5-year term to live in or operate a business in the property purchased - key to economic revitalization.
Ben Delisle

“This initiative in partnership with GovPilot represents a wonderful opportunity for families to invest in their future by becoming homeowners at lower than market prices. This auction is an important component of our economic revitalization and blight reduction efforts.”

 
W. Reed Gusciora
Mayor, Trenton

 

 

“This auction was tailor-made to benefit residents - including first-time homeowners - over outside investors.”

Ben Delisle
Housing and Economic Development Director, Trenton

Interested in GovPilot's auction services?

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