6 reasons why you should sell your real property at auction
The best of everything sells at auction....the best collector cars, artwork, wine and antiquities. Why not your real property?
There are numerous benefits to selling your property at auction including creating competition in the marketplace, having a defined time-frame and selling on your terms.
1. Creates competition
Auctions create a competitive environment. Buyers know they have to compete and be the high bidder in order to become the new owner. Who wouldn't want all interested buyers competing in real-time to buy their property?
2. Defined time-frame
Having set dates for auction and for closing allows you to plan accordingly. It also create urgency with prospective buyers to be organized and prepared. Public showings are scheduled and promoted, rather than random, life-interrupting events. Setting a date also creates a structured selling plan in which to achieve your best sales price either prior to or at the auction.
3. Attracts more potential buyers
Offering real estate auction can often attract more buyers. Buyers appreciate the opportunity to bid in an open and transparent environment wherein they help set the market value.
Buyers can also stretch themselves under a competitive environment to buy the property they want.
4. Get the most attention
Our marketing is disruptive and generates maximum attention. Offering a property at auction effectively moves your property to the top of the pile. Bidders are going to want to wait until your property sells before moving on to other like-kind properties.
Our marketing generally is condensed into a 21-30 day period, giving us the opportunity to attract the maximum amount of qualified purchasers for your property.
5. Reduce days on market
Auction ultimately reduces days on market.
It creates urgency, and requires buyers to act on the time-frame that works for you.
6. Sell on your terms
There are two components of most transactions......price and terms. Auction allows you to pre-determine the terms that work best for you and all bidders will be placing offers subject to the terms you have chosen. No more waiting on contingencies, due diligence periods and feasibility studies.
Once a high bidder is determined, the buyer places a significant deposit that is non-refundable, letting you know that they will close.