The auction method of marketing assets is the fastest growing method of sales in the United States today. In 2003 the auction industry accounted for $203.2 billion in sales. This method entails a process of developing a professional and effective marketing campaign for each individual sale in order to reach a broad audience. Auctions utilize accelerated marketing whereby property is showcased through intense, highly visible advertising featuring the seller’s property exclusively. Buyer’s must act within the seller’s time frame and under the seller’s terms and conditions if they want to purchase the property.

Should you consider the Auction Method? Consider this: Do you wish to saturate the marketplace with marketing which showcases your property? Do you want to sale closed in 60 Days? Do you want the buyers making decisions on your schedule? Do you want to set the terms or negotiate every aspect of the sale?

Benefits of Auction Method—

• A negotiated sale begins by establishing an “asking” or “list” price
• An auction begins by establishing date, location and terms of sale
• A negotiated sale employs a limited marketing process
• An auction employs an intense, multi-faceted marketing process
• A negotiated sale waits out an “interested” buyer
• An auction brings all potential buyers to the sale
• A negotiated sale encourages negotiation
• An auction eliminates negotiation
• A negotiated sale most often involves a decrease in asking price
• An auction encourages price increase through competitive bidding
• A negotiated sale, utilizing a contingent contract, often falls through between contract and closing
• An auction, utilizing non-contingent contracts, yields a high closing percentage

Why Sell at Auction—

Sellers don’t want to overprice property and risk having it on the market for an indefinite period of time. Nor do they want to risk under-pricing property and lose equity. The auction method eliminates the guesswork by targeting all potential buyers thus creating an environment for obtaining true market value. Auctions achieve fair market price because all qualified potential buyers interested in the property must be there on sale day ready to make their best offer in competition with other qualified buyers. You receive top dollar for your real estate, and the buyers believe in the value of their investment, since they were willing to pay just one bid more than someone else.