Real Estate Auctions: Why They Work
A real estate auction is the public sale of any property sold to the highest bidder – properties can include those that are foreclosed or distressed. Auctions are the fast and easy way to sell real estate without paying commissions.
Real estate auctions can:
- Provide a high probability of closing deals in a short time frame
- Earn more money than traditional real estate listing options
- Help to relieve pressure on sellers and buyers during negotiations
- Give the property exposure to thousands of potential bidders
Auction Company of America
Successful Real Estate Auctions Since 1979
Overall, a real estate auction can be a winning option for both the seller and the buyer.
Real Estate Auctions offer property owners the benefits of advertising and marketing to attract a large number of buyers over a short period of time.
The strategy can lead to a quick sale at a market-maximized price by using an accelerated real estate marketing process. It is fast & easy real estate liquidation for homeowners, banks, or investors who want to sell their property quickly for cash with no strings attached. We have sold thousands of properties – residential and commercial. Auction marketing produces results that compare with – and in many cases exceed – traditional real estate brokerage results.
Breaking it down: Real Estate Auction Advantage
- Buyers come prepared to buy with certified funds
- Reduces long-term carrying costs, including mortgage, taxes, insurance, maintenance and other related expenses
- Exposes the property to a large number of pre-registered prospects
- Assurance that the property will be sold at true market value (property can be sold with a reserve price)
- Accelerated sale with preset sale and closing dates
- Creates competition among buyers – in some cases auction price can exceed seller’s expectations
- Sales are not contingent on financing
- Eliminates numerous and unscheduled showings
- Property sold as-is
- Saves the seller an unnecessary long negotiation process – it is hassle and haggle free
- Use of the Buyer’s Premium – buyers pay the closing costs