The Benefits of a Real Estate Auction

Numerous situations occur that are tailor-made for the real estate auction, but most, if not all of, would fit under the category “time is of the essence. ”

Property A is sold, and on the strength of this particular sale, your client purchases House B. Now sale A grows problems in escrow and the sale cannot close. The client is now within a state of hysteria since his only hope of closing upon Property B in 60 days is definitely by closing on Property The. What do you do? Auction Property A and arrange a sale date nicely in advance of the closing date on Property B, stipulating that section of the terms and conditions of the real estate auction is a quick closing. This can only be accomplished with a real estate auction.

A kind of situation which dictates the advantage of a true estate auction is the high divorce rate and the need to dispose of the real estate quickly. Often neither party can pay for to hold a property that they previously owned because husband and wife.

When a partnership dissolves, the problem often demands an immediate sale of the assets, including the real estate. Private negotiated marketing cannot guarantee a selling within a set, short time period. An actual estate auction can.

Heirs for an estate that involves real estate are usually extremely motivated for a fast sale. The majority of states encourage a real estate public sale as a method for generating the highest price in the shortest period of time. Illness, or the need for immediate cash, or the inability of the owner to hold and maintain real estate is another reason you should recommend a real estate auction. Holding costs could be crippling. All too often, the carrying or even holding costs during a private negotiated marketing effort won’t be recovered in the higher selling price. Instead the price is usually reduced. Therefore , the sooner a property offers, the greater the bottom line dollars in pocket for the seller.

An exchange getting held up waiting for a buyer on one of the legs – auction it.
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The real estate auction can also work specifically well in a “Bull Market”. The law of supply and demand, where the demand exceeds the supply, is definitely an ideal market to expose the real estate in order to competitive bidding to get the maximum return. The real estate auction is highly desirable within overbuilt or stagnant markets, exactly where no reading exists on how low prices will fall or how long the market will stay overbuilt.

The private discussed method and auction marketing method are different. A real estate auction can most generally guarantee a selling within a short period of time, and the attention is directed to the property getting auctioned. Private negotiated marketing aren’t accomplish this.

Clearly, real estate auctions provide owners of all types of real estate advantages that are not available with private negotiated real estate firms.

All of us in the real-estate profession are salespeople first and foremost. A few forget for a moment the fancy titles and diplomas we have earned during our years in the business. The results of success in our profession continues to be determined by our ability as salespeople. We constantly look for sellers and we have more listings. Our next step is to find the buyers.

A professionally managed real estate auction is a method of advertising that will find the buyers crawling out from the woodwork, and it is this benefit that will enable you to gain additional sales by offering your clients the real estate public sale marketing option.

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