The Auctioneering profession is undoubtedly one of the oldest professions of all. In Roman times, around 450 B.C., various auctions were held to dispose of booty and captives of war.
Today, the auction method is more widely accepted than ever before. People have come to think of the auction method as the fairest and fastest way of disposing of property. Everything can be or has been sold at auction from eggs to airplanes and from Indian blankets to skyscrapers.
Auctions work very well in situations where the property or object is very rare and/or popular and true value is difficult to assess. When time is of the essence, and large quantities of good need to be sold quickly, auction is the only way to go.
So, whether you have a business that needs liquidating or simply need to sell Grandma’s estate – we can help. ALL merchandise or personal belongings can be sold in ONE day… and while the crowd is still gathered, why not offer the real estate for bid as well! Can you think of a more efficient way to get the job done?
- Buyers determine the purchase price
- The Buyer knows the Seller is committed to sell
- Auctions eliminate long negotiation period
- Buyers know they are competing fairly and on the same terms as all other Buyers
- Purchasing and closing dates are known
- Auctions reduce time to purchase property
- Buyers receive comprehensive information on property via due diligence packet
- In multi-property auctions, the Buyer sees many offerings simultaneously while in the same place
- Smart investments are made as properties are usually purchased at a fair market value through competitive bidding
- Buyers usually pay all sales commissions through a bidders premium
- Quick disposal reduces long-term carrying costs, including taxes and maintenance
- Buyers come prepared to buy!
- Assurance that property will be sold at true market value
- Creates competition among Buyers. Auction prices can exceed the price of a negotiated sale
- Seller knows exactly when the property will be under contract
- Seller has option to offer property “with reserve” price or as an “absolute” auction
- Takes the Seller out of the negotiation process
- Eliminates numerous and unscheduled showings
- Quickly brings Buyers to the moment of decision
- Agents can earn commissions as Listing Broker, Buyer Broker or Referring Agent/Broker
- Successful auctions result in referrals and return business
- Auctions bring people in to look at all your listings, not just the auction listing
- Generates a list of ready and qualified Buyers
- Offers clients and customers new selling and purchasing options
- Property is sold in a relatively short period of time