For Sellers
You decide what day you will receive an offer on your real estate. The auction process creates excitement and a sense of urgency. Buyers compete for your real estate. You sell "As is, where is". Your price will increase as the auction progresses. Selling conventionally, often you keep lowering your price until you receive a low ball offer. Remember there are only two reasons your property has not sold. Price and advertising. If the property is priced properly and people are aware, it will sell. Advertising for an auction is concentrated for a particular date. The day of the auction you can decide whether or not to accept the bid.For Buyers
Typically an auctioneer will have information and disclosures available in a convenient location for your considerations. You get to experience how the rest of the market views the property. Appraised value is what a knowledgeable buyer will pay and a knowledgeable seller will accept when neither is under undue distress. The other bidders are providing real testaments of value. A live auction is an appraisal. A buyer will pay only what the property is worth on that day. Which may be less than others are asking.For Brokers
The auction process lets you concentrate your efforts for a particular property for a date certain. It will expose more buyers to your listing. In this market how many sellers have not received an offer. In recent years prices have continued to lower. Selling now may be better off selling now rather than later. Bringing a buyer client to an auction may help you find them a great value and allow you to earn a commission. Most auctioneers will participate with Buyer's Agents.Experience a Real Estate Auction
I will be conducting a real estate auction on August 25 at 11:00 at Unit 10 Eastern Shore Townhouses. See my website www.GaryBarkerAuctions.com . It has the terms of sale and information about the property.
