A common question many people have when they are thinking about selling is, "Should I list my property with an agent first, or have an auction?"
As Auctioneers with our aggressive marketing campaign we will spend a few thousand dollars advertising your property in two to three weeks. We bring buyers to the seller and submit multiple offers in one day rather than weeks or months.
That's opposed to having a private real estate agent come in and list your home with limited advertising and wait for the buyers to come one by one.
The Auctioneers don't set the price of your property like a traditional agent. At Auction, the sale price is determined by the market. Your home is only worth what someone will give for it. You as the owner and we as the auctioneer can't force anyone to give anymore than what they want to. It's our job to bring them to you and solicit the highest and best offer.
The key for auctioneers to successfully market and sell property is to get it before it ever goes to the MLS. Once a property has a price attached to it, its next to impossible to reach or achieve more than that price. Imagine going onto a car lot and seeing a car you like and reading on the window its $30,000, I dont know of anyone who would offer $50,000 right off the start, its natural for people to want to buy things and get a good deal. At an auction the price is determined by fair market price, which is driven by the buyers who attend the sale. They set whatever price they are willing to give, with terms we set forward.
We have a 60% chance of getting properties sold, when we follow a listing. Compared to a 95% for property that has never been listed.
Auctions are no longer a last resort, they are seen for their value and immediate effectiveness.