Every real estate professional, investor, buyer or seller needs to learn about why auctions work.
* Auctions are the fastest growing segment of the real estate industry
* 1-Million properties sold at auction during 2009 and growing daily
* Real estate is being sold at auction everywhere in America
* Auctions are advertised on TV, radio, internet, newspapers & billboards
* Buyers are flocking to auctions in record numbers; cash in hand ready to buy
* Sellers are asking about real estate auctions in record numbers
* Auctions deliver all cash, no contingency, quick closing contracts
* Auctions are not new or a fad, they have been regulated over 2000 years
Sellers are pleased knowing they have received "the present cash market value" through open and competitive bidding. Sell your property at auction in 4 to 6 weeks, usually with no seller commission.
Buyers who 'win' property through our transparent open bidding process are pleased knowing they only paid one bid more than someone else was willing to pay for the property.
Seller Advantages of Selling Property at Auction
Auction Sales Reduce Time on the Market. Once the promotion begins, the auction sale takes place in a few weeks. Sellers like knowing their property will be sold on a certain date. Auctions avoid drawn-out negotiations and unnecessary contingencies because terms and conditions are preset by the seller.
Can liquidate property fast
Creates competition among buyers
Exposes property to a large number of prospects
Seller knows exactly when property will sell
Real estate auction reduces the amount of time a property is on the market
Auction eliminates numerous and unscheduled showings
Auction takes seller out of negotiating process, allowing the seller to sell the property under his/her terms and conditions
Buyer Advantages of Buying Property at Auction
Auctions Create Competition among Buyers. The auction process causes multiple buyers to compete at the same time and place to purchase property. Buyers like the pace, competition and anticipated bargains at auctions. Competitive bidding brings true value. It often draws prices higher than the seller's expectations.
Can set own purchase price
Purchase property at a fair market value - Buyers feel better about purchase - just knowing there is a contending bid just one increment under the purchase price
Eliminates potential of long negotiations
Reduces time to purchase property
No worries about contingencies because purchasing and closing dates are known
Buyers know property owners are motivated to sell
Every real estate professional, investor, buyer or seller needs to learn about auctions. Agents earn commissions and make happy clients who sell and pay at present cash market value.
Auctions are no longer considered a means of last resort.
Paul Roesch, AARE