Right now, it’s a buyer’s market. Buyers have lots of properties to choose from and sellers are looking for a way to stand out. It’s not a surprise that more sellers are turning to auctions for help.

Yesterday I attended a live auction in St. Louis, MO in which 6 properties were auctioned. The auction took place on the front steps of 1 of the properties. About 40 people attended and probably 20-25 took part in the bidding. Out of 6 properties, 5 of them sold at prices that, if listing in the MLS, would have sat for weeks and maybe months. Only one didn’t go well (receiving only one bid) and that property recently caught fire and was a tear down in a rural area, but at least it sold. I’ve attended auctions before, but in this market it proved to me once again, that an auction is definitely the best way to sell quickly and for a decent price.

It’s no surprise that auctions are growing in popularity, especially in the market we are in today. There aren’t many other solutions for sellers who need to sell quickly and...

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Written by Tom Wood - Real Estate Internet & Investor Auctions (www.reiauctions.com) based in St. Louis, MO. (877) 234-6706. Tom Wood is a real estate broker & auctioneer in St. Louis, MO. He owns and operates a internet auction site for real estate.