Why Sell At Auction?
Today’s real estate market is extremely cluttered. Due News market conditions, News inventories are extremely high at all price points. Thus, it is becoming harder and harder for a seller to garner attention for a property utilizing the traditional “listing” method for real estate sales.
The “accelerated” marketing, or “auction” method, allows the seller to rise above the clutter and grab the attention of the potential buyers. Once the buyer is aware of the property and knows the property will be sold, a genuine sense of urgency has been developed with the buyer. This sense of urgency typically creates a very competitive bidding environment either at the auction event or News the weeks leading up to the event.
Other benefits to sellers of the “auction” sales method include:
-Buyers come prepared to buy.
-Offers have fewer contingencies making for a smoother transaction.
-Quick disposal reduces long term carrying costs, including taxes, maintenance costs and utilities.
-The sales process is very transparent; thus the seller can really see the true market value for the property.
-The seller has an opportunity to sell, or at worst case, a point in which to begin a negotiation.
-By selling quicker, the seller can become a buyer with a “non-contingent” status, allowing him to become a buyer that has more leverage in the purchase of another property.
-The seller can determine the timing of the sale.
Sellers throughout the country are rapidly realizing that selling at auction is a legitimate alternative to the traditional “listing” method.
Ryan Schmitz is a Realtor with Micoley & Company in Green Bay, Wisconsin. He specializes in Multi-Family and Self-Storage property sales and aquisitions. For more similar articles please visit http://www.greenbayproperty.blogspot.com
