On average, a traditionally listed property will stay on the market for months before selling, with holding and marketing costs adding up the whole time. Even worse, when a property has been on the market for a long time, potential buyers may wonder “what’s wrong with it?” An auction begins at a set time and ends within minutes, leading to a quicker sale for you.
Excitement and competition
Auctions encourage competition and create an air of excitement at the event, driving bids up and ultimately benefiting you!
Ensures fair market price
Competitive bidding ensures that the selling price accurately reflects the market value of the property.
Expert auctioneers aggressively market their auctions, ensuring that your property gets maximum exposure before the auction. Many auctioneers also have a network of regular attendees.
In an auction, there is no chance for the seller’s price to get negotiated down. Buyers say what they are willing to pay, and that’s it. In a traditional listing, the price typically goes down throughout the listing’s life. In an auction, the price only goes up!
Weeds out less serious buyers
Everyone who bids in an auction is prepared to buy. You save time by dealing only with people who are committed to buying your property.
Have a listing that’s grown stale? An auction can drive up interest and urgency, helping you move the property faster. Auctions also cut out lengthy negotiations.
Ensure fair market value
Competitive bidding helps to ensure a good sale price for your client, and a better commission for you.
Auction properties are sold as-is, and bidders are ready to buy the day of the auction.
Fast and easy
Auctions are fast and simple, with no lengthy haggling process. Auctions begin at a set time and place, and end in minutes.
While auctions usually ensure the fairest market price for property, there is occasionally the chance for a buyer to win a discount.