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QUESTION: What are the positive and negative points about selling
property in a multi-property auction?
ANSWER: Some auction firms work under the philosophy that multi-property auctions are
wonderful for selling a lot of different properties in a short period of time
for much less expense. The owners of the properties usually pay a much smaller
advertisement budget up front since the advertisements usually involve all the
properties together. The auction usually is conducted in one spot utilizing a
slide projector to show the properties on a screen when they are sold. There
are a lot of properties sold very fast with relatively little expense.
Other auction firms concentrate on attaining market value. This process takes
longer since only one property is sold on a give day at the subject property
site with usually all the advertisement in that particular market focused only
on that property. Since the auction firm is concentrating on that one auction
in this type of sale, there is time to personally solicit the market in
addition to the auction advertisements. The advertisement cost is higher, and
the time is longer, but the results are usually much different.
Both techniques have a place in the auction arena depending on the needs of
the client.
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Crye-Leike Home
All announcements made auction day take precedence over printed material.
Crye-Leike® Auctions Firm License Numbers: TN License #2774, MS License #809F,
Crye-Leike® of Nashville, Inc. Firm License Numbers #1473, #3758, #4923,
Crye-Leike® South, Inc. Georgia Auction Firm License # ACNR002328
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