Seller Advantages

Advantages of Selling Property at Auction

Auction sales reduce the time on market. Once the promotion begins, the auction usually 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
• Accelerates closing
• 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

Other Benefits to the Seller

• Buyers come prepared to buy
• Quick disposal reduces long-term carrying costs, including taxes and maintenance
• Assurance that property will be sold at true market value
• Exposes the property to a large number of prospects
• Accelerates the sale
• Creates competition among buyers - auction price can exceed the price of a negotiated sale
• The seller knows exactly when the property will sell
• Eliminates numerous and unscheduled showings
• Takes the seller out of the sensitive negotiation process
• Ensures an aggressive marketing program that increases interest and visibility