Know the benefits of auctioning your real estate.
Increased Sale Price
Auctions often attract motivated buyers who are willing to pay a premium for a property. The competitive bidding process can drive up the final sale price, potentially resulting in more money for the seller.
Buyer Premium
Auctions allow sellers to charge a buyer premium, which is an additional fee paid by the buyer on top of the winning bid. This means more money in the seller’s pocket.
Prior Property Tours and Offers
Buyers are typically allowed to tour the property before the auction and make offers in advance. This can generate interest and potentially secure offers even before the auction day, giving sellers more options and flexibility.
Buyer Urgency
The auction process creates a sense of urgency among buyers. The time-sensitive nature of auctions can compel buyers to act quickly and submit their best offers, which may lead to better offers for the seller.
Transparent and Efficient Process
Auctions provide a transparent and efficient way to sell real estate. The set timeframe and competitive bidding ensure a fair and quick sale, reducing the time a property spends on the market.
No Contingencies
Selling without contingencies can attract serious buyers who are willing to accept the property in its current condition. This can save sellers time and money by avoiding potential negotiations or repairs.
