Why Sell at Auction?

Auctions have many advantages for the seller...

Quick Turnaround Time
Probably the number one advantage of the auction process is the speed of the process. An auction almost guarantees a sale within 90 days, and most sales are complete within 30-45 days. The sale itself is done within a day. For some the bidding lasts only a few minutes, although there have been plenty of instances where bidders have become involved in a "bidding war," lengthening the time of the sale, and hiking up the price of the property. But that’s also an advantage – to both the seller and auction company. In short, auctions are perfect for individuals or businesses who have a deadline to sell their property, but want a competitive sale.

There’s No Limit on the Final Sale Price
This is, indeed, an advantage. With traditional real estate sales methods, sellers run the risk of overpricing their property and seeing very little interest. Or, they run the risk of underpricing their property and selling it for much less than it is worth. At an auction, the price is determined by the highest bidder and there is no cap on high bids.

Sellers Know When Their Property Will Sell
Long listing periods for real estate can be avoided if you sell your property at auction. When the auction date is set, you know exactly when your property will be sold. And if it’s your home you’re selling, you don’t have to hassle with that endless flow of people inspecting your home at any possible day and hour.Consumer Attendance at Various Types of Auctions

No Contingencies
Property sold by the auction method is sold without contingencies. This means the property is sold "as is." Prospective buyers are given time to view the property prior to the sale so that they can make an informed decision. Sellers do not have to worry about the "closing" being held up because the buyer is trying to qualify for a home loan or must sell his or her own property before he or she can buy theirs.

Comprehensive Marketing
Auctioneers are well-versed at marketing a number of goods to the public and they have a client list at their disposal. The advantage here is that the real estate will get marketed to a number of potential buyers that it wouldn’t have been marketed to otherwise.

Excitement of the Sale
Nothing compares to the atmosphere and excitement of an auction. A good auctioneer’s chant can get the crowd revved up and keep their interest; that’s why people flock to these types of sales.