Auctions work in good and bad markets.
Most people believe that an auction works best in a down market. That is not always correct. In the last buyer's market we could get sellers higher prices because we would bring many buyers to the auction. Then the bidding would start and the starting price would rocket up, pushed by the many people who wanted the same property. The competition of a group of buyer's can prices far above what the normal real estate sale might have been. Most important is the word Auction in the advertisement that we place in a major newspaper. It would bring large numbers of buyers and all were usually ready to buy. Auctions work in good and bad markets and usually bring higher prices.
Bob Calistri, Broker
Real Estate Auctions, llc
www.realestateauctionsllc.com
bob@realestateauctionsllc.com
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