Auctioneers sell to the highest bidder. 100% working for the vendor .
Real estate auctions offer the seller 3 stages for a sale:
- before auction
- at auction
- after auction
Auctions create competition among buyers. Consequently, the auction price can exceed the price of a negotiated sale.
- Generate excitement and heightens buyer interest.
- Create the most exposure in the shortest period of time and accelerates sales.
- Require potential buyers be registered and qualified with certified funds on the day of the auction.
- Eliminate high seller carrying costs — such as interest, excessive advertising, and maintenance.
- Bring interested buyers to a point of decision — they must act now or lose an opportunity to purchase the property.
- Allow the seller to plan and select the date they want to sell. They control the sales process.
- Allow the seller to set the terms and conditions of sale.
- Eliminate numerous and unscheduled showings.
An Auction is an aggressive, advanced marketing program that increases potential interest in and awareness of a property.
Days on market are approximately half compared to other methods of sale such as private treaty or by negotiations
Real buyers want to deal with real sellers
Auction is the purest form of marketing
Records are broken in competition , Auction is the power of competition.