What are the Advantages to a seller in an auction scenario? Immediate Results , Eliminate Holdings Costs, Control of Terms, Creates Urgency, Intense Specific Marketing

By using the auction method of marketing, the seller is able to sell assets in approximately 60 days. You are no longer tied to the traditional real estate market. You as the seller will establish the timeline for your property closing. Knowing the specific, definite closing date allows the seller to take advantage of opportunities for reinvestment and relocation immediately. An Auction reduces the holding costs of the property, including interest, taxes and maintenance. This is due to the shortened marketing period of the auction method of marketing. Traditional sales methods can leave the seller responsible for these costs for an indefinite period of time. Additionally, the terms and conditions of the sale are established and controlled by the seller and the auctioneer. Each sale is tailored to suit the individual seller's needs and is carefully evaluated to determine the most appropriate (and cost effective) method of offering the property. Each property is sold in "as is condition". There is no further work to be done by the seller. All inspections are made by the prospective buyer prior to the auction and at their expense. The auction method of marketing is based on each individual seller's needs. The auction method forces buyers to act immediately.  Traditional marketing methods do not create the urgency necessary to close the sale quickly. Auctions demand decisiveness. The auction takes advantage of the synergy created when a group of buyers are bidding competitively against one another -- each bid reaffirms the value of the property. When you decide to use the Auction Method to sell your real estate, we will target the most effective marketing area to generate the most interest in the property. The auction creates definite date and time for viewings and for bidding. The potential buyers are well informed and aware of all information needed to be a successful bidder at your auction. We supply an information packet with a map, tax information, and a copy of the deed. These items are also available on our website, as well as through the mail. The documents are provided as information only and are believed to be correct. All potential bidders are encouraged to inspect the property prior to the Auction. What expenses am I responsible for? The cost to our seller's is advertising and commission. The commission can work in several ways. The seller can pay a flat 6% commission at the time of closing plus advertising, or the seller can pay 3% and a 3% buyer's premium can be in place to pass part of the expense to the buyer. What are the benefits of selling property at auction? The auction method of marketing is a win-win proposition for everyone involved. As a seller you dispose of properties quickly and efficiently, thereby saving on the long-term carrying costs such as interest, real estate taxes, and maintenance. For our buyers this can mean a wise investment. Since the auctions are conducted publicly, both buyers and sellers have the assurance of viewing the property's value emerge as the bidding process progresses. An auction creates competition among buyers and exposes the property to a vast number of qualified prospects. Auctions are accelerated sales; properties are often being sold in less than 8 weeks from the time of listing or sooner for cash buyers. What factors determine the success of an auction?

1. The desirability of the property being offered for sale, location, condition and surrounding properties. 2. An aggressive marketing and advertising plan. 3. Realistic expectations on the part of the seller. 4. Choosing the type of auction: reserved minimum or absolute auction.  5. Conducting the auction in a professional manner and following up through closing. 6. Holding open houses and supplying information to potential buyers.