When selling your real estate, would you like:
A set date of sale?
An accelerated sales and marketing time frame?
Only qualified bidders with no contingencies?
"Real Time" Competitive bidding
No drawn-out negotiations; The bidders compete against each other.
Here s a look at how the AUCTION METHOD is better for the seller than a traditional real estate sale:
Overall accelerated time frame
Bidders are pre-qualified and ready to buy
Competitive bidding.. in Real Time
Property sold at Fair Market Value
Quicker end to carrying costs
Scheduled, limited number of showings
Set closing date, usually 30 days or sooner after the auction
Virtually all types of real estate can be auctioned:
There are three popular auction options:
Absolute Auction - Highest bid wins. Absolute Auctions generate by far the most interest among buyers because of the opportunity to win the property with just one more bid.
Minimum Bid Auction - Bidding begins at a minimum price acceptable to the seller. Less popular among bidders than the Absolute Auction, a Minimum Bid Auction nonetheless is attractive to buyers because the starting bid is typically set low enough to potentially providea reasonable deal for the buyer.
Auction With Undisclosed Reserve - Only the seller, the auctioneer and the Auction Specialist knows a confidential minimum price at which the property can sell. Buyers may find this option less compelling because of the unknown minimum threshold their bidding needs to reach in order to purchase the property.
There are three primary ways to sell or buy a property at auction:
Live, In-Person Event - When most people think of auction, this is it! This type of event features a live auctioneer in an open-outcry setting, referred to as a Ballroom event. Qualified bidders raise their numbered paddles or bid cards when they wish to bid at the announced price, which is publicly acknowledged by the auctioneer. A live,
in-person event is typically held at a hotel ballroom or conference center for multi-property listings, or onsite at the subject property for a single listing.
Online-Only Event - Perfect for a listing or listings in which a live, in-person event isn t practical. Online bidding time is set for a narrow time frame or a broader time frame depending upon the marketing strategy preferred by the seller, in consultation with a specialist. Bidding is done by qualified buyers online, in real time, though the Online Bidding Platform.
Live / Online Hybrid Event - A great combination that melds today s technology with tradition to throw open the doors for bidding from virtually anywhere. Bidders in the room, across town or around the world can purchase real estate while sellers can have their properties exposed to buyers far beyond local markets.
What will it cost to sell my real estate at an auction?
Our listing fee and the marketing cost will vary, due to several important factors including:
Type of property
Method of auction
Single-property auction or multi-listing auction
We can best answer this question with a conversation. Please don t hesitate to contact us for more information and to discuss your particular situation.