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Why Auctions Work October 7, 2006

Posted by AlynnROCK Group in Auction News.
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Real Estate Auctions Always Draw a Huge Crowd  

Benefits of Using the Auction Method

Seller’s Benefits

  • Real estate auctions offer the seller another option.
  • Auctions create competition among buyers. Consequently, the auction price can exceed the price of a negotiated sale.
  • An auction generates excitement and heightens buyer interest.
  • An auction creates the most exposure in the shortest period of time and accelerates sales.
  • Requires that potential buyers be registered and qualified with certified funds on the day of the auction.
  • Eliminates high seller carrying costs — such as interest, taxes, and maintenance.
  • Auction brings interested buyers to a point of decision — they must act now or lose an opportunity to purchase the property.
  • Auction is a true market forum.
  • A seller can plan and select the date they want to sell. They control the sales process.
  • A seller sets the terms and conditions of the sale while maintaining control of the property throughout the auction.
  • Auction eliminates numerous and unscheduled showings.
  • Auction takes the seller out of the negotiation process.
  • Auction is an aggressive, advanced marketing program that increases potential interest in and awareness of a property.
  • A Seller is able to obtain liquidity, free up capital and move on to other investments or property decisions.
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