Real Estate Auction Marketing Advantage - Seller Benefits
- Never has to worry about Selling Too Cheap
- Offers the Seller another option
- Creates competition among buyers-Auction Price can exceed the price of a negotiated sale. An auction generates excitement and heightened buyer interest.
- Exposes the property to a large number of pre-qualified prospects
- Requires that potential buyers pre-qualify for loans
- Property is Sold As Is, Where Is and How Is without contingencies
- Accelerated sales-the property can sometimes be sold within three weeks of listing
- Eliminates high seller carrying costs - such as interest, taxes, maintenance
- Auction brings interested buyers to a point of decision - they must act now or lose an opportunity to purchase
- Auction is a true market forum - the highest buyer pays the lowest price a seller will accept
- A seller knows exactly when the property will sell
- A seller sets the terms and conditions of the sale, maintains control of the property throughout the auction (depending on auction type), and actively participates in the sale process
- Auction reduces the time the property is on the market
- Auction eliminates numerous unscheduled showings
- Auction takes the seller out of the negotiation process
- Auction is an aggressive, advanced marketing program that increases potential interest in and awareness of a property
- Seller is able to obtain liquidity
- Seller is able to move on to other investments and free up capital
- The buyer pays our commission when a 7 to 10 percent Buyers Premium is used. The high bid plus the buyer's premium becomes the total selling price. The seller pays no commission on a property that sells...only marketing costs are charged to the seller.