Is Real Estate Auction Right for You

Auction sellers are really not in a position of "having" to sell. They are in the position of "WANTING" to sell, where time is of essence and moving forward with their life is more important.  And getting their property sold NOW has more value than waiting around for that one “right” buyer.

Across the country, auctions are increasingly gaining momentum as a winning real estate marketing tool. Auctions offer market activation and expose the property to a wide number of potential buyers- capturing the buying market and getting buyers to act NOW!

Most properties are salable by auction. All types of real estate, including vacation homes, commercial property, vacant land ranch, resort and those hard to sell properties- even boat slips are sold at auction.

A good indicator as wether auction is "right for you" is if two of the three main components - market, the seller and the property - lean favorably toward auction, then it should be given the proper consideration.

Here’s a checklist to figure out if the auction is right for you:

Do these characteristics describe the seller?

  • Time is of the essence
  • Prefers shortest sale time and highest possible return
  • Is ready to move on to another property
  • Has already purchased another house
  • Has high carrying costs on the property
  • Would like to gain maximum exposure and competition around the sell of their property
  • Is an auction-minded seller
  • Needs immediate cash
  • Has a partnership or marriage break-up
  • Knows that their property type has a long listing period and can sit on the market for months or years
  • Wants to liquidate an estate
  • A development- where the developer would like to “sell-out” their remaining inventory freeing them up to move on the their next project
  • A new development -where the developer would like to gain momentum and create a Grand-Opening Event
  • Has confidence the property will bring a fair market price
  • #1 WOULD LIKE TO MOVE ON WITH THEIR LIFE!!


Do these characteristics describe the market?

  • A changing market
  • A dull market -- too much inventory
  • Not enough of the particular property type (luxury, unique, lake front, etc.)
  • An emerging market -- for example, a new development where sales could take off once proper attention is gained
  • A seller’s market with high demand and high competition


Do these characteristics describe the property?

  • High-end or unique properties-- whereas there is a narrow buying marketing
  • New Development- creating a "Grand-Opening" event
  • Difficult to appraise -- unique properties are difficult to appraise
  • Ranch/Farm or Rural - where more expsoure is needed
  • Existing Develoment- few remaining parcles or units left to sell
  • High-exposure/ high-demand property- where there is already a large buyer base
  • High carrying costs
  • Carries at least 25% or more equity

 

Contact us now to schedule a consultation and determine how you can benefit from the auction process.
 



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