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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