Graham Investments Boasts 80% Improvement in Lien Loss Recovery with StorageTreasures
February 19, 2019 – Phoenix, AZ. StorageTreasures, LLC, the leading online storage auction platform, has helped Graham Investments maximize lien loss recovery efforts to the tune of an 80 percent increase over live auctions at their self storage facilities in Colorado, Texas, and Nevada. Despite sticking to many traditional practices in the management of their facilities, Graham Investments just celebrated the one-year anniversary of their first auction on StorageTreasures.com and isn’t turning back.
Based out of Colorado, Graham Investments has a long history of success in the self storage industry, with a pedigree that dates as far back as the 1970s. With decades of industry experience,12 facilities open and operating, and additional properties in development, Graham Investments is a growing enterprise that relies on new technology solutions to increase their operational efficiency. “We are always working to maximize profits,” stated Hank Thomas, Graham Investments District Manager, and StorageTreasures has tangibly reduced their lien losses. “I have been going facility to facility and turning them over [to StorageTreasures] one-by-one.”
Hank was disappointed with Graham Investments’ live auctions, where poor turnout and loyalties or intimidation among bidders caused units to sell for detrimentally low amounts. After an unsuccessful attempt to switch to online auctions using another site, Hank tapped into the local bidder community to see who they buy from online. Their answer? StorageTreasures. With a reputation that attracts high-quality buyers, strict policies that terminate auction winners for no-shows, and a pool of backup bidders on standby should a no-show occur, StorageTreasures eliminates many of the concerns that typically accompany a move to online auctions.
“Efficiency is the biggest bonus,” added Hank. “The process is much cleaner, once the managers lien the units we have 100% control over how it’s auctioned, and no foot traffic through the facility which removes liability. We control the date of the auction and don’t have to follow an auctioneer’s schedule.” Hank also has more options for recouping losses tied to delinquent rent, and lien and auction fees, and has even seen better results with unit cleanout after auctions– a fact he attributes to better buyers. In his year with StorageTreasures, Hank has seen dozens of units sell for more when posted online.
“People who are not doing auctions with StorageTreasures are missing out big time!” exclaimed Hank. StorageTreasures makes the auction listing process easier, faster and gives facilities more flexibility while bringing a built-in buyer clientele. In addition, it helps bridge the gap between bidders and sellers, with dedicated customer service managers that prepare both parties for a successful auction. StorageTreasures provides best practices for online auctions, lien law resources and hands-on training for sellers, and works with bidders to ensure they understand the commitment involved in bidding on, buying and cleaning out units.
“Customers like Hank understand the value our service provides, and the passion our people have for giving superior and professional support. Since 2011, we have been perfecting the art of online storage auctions, working creatively to connect bidders and sellers throughout the United States and Canada. Our ever-evolving platform has been the vendor of choice for over 10,000 storage facilities transitioning from live to online storage auctions. As Graham Investments continues to expand we make it easy to on-board new facilities,” states Chelsea Horne, Product Owner of StorageTreasures.com. “Working together is key in our ability to provide innovative solutions to property owners and storage customers.” With a 70% to 80% improvement in their lien loss recovery, Hank plans on bringing all of Graham Investments’ facilities on board.
To learn more about StorageTreasures, contact OpenTech Alliance at sales@opentechalliance.com.
