Auction Seller Benefits
The auction marketing method provides a unique and powerful opportunity to have your property and assets sell for more than you would have thought of asking. This is achieved by accelerating the marketing time and bringing all prospective buyers together, putting them into a competitive posture. When auction day arrives, you can be confident that the strongest group of qualified bidders possible is assembled, and your property will sell at FAIR MARKET value.
A successful auction is no mystery or accident. It is a coordinated event. But the best result is the immediate conversion of property to cash – still returning fair market value – with the minimum investment of time and money.
- The seller determines the day the property will be sold.
- Short marketing time, we can normally conduct the auction in approximately four weeks after the auction listing agreement has been signed.
- The seller controls the terms of the auction, the property is sold with no contingencies, “As Is” condition.
- The selling price is not capped by the existence of an asking price.
- The word “AUCTION” will generate substantial interest from potential buyers.
- Capitalize on the competitive nature of people, and utilize emotion and enthusiasm to achieve a higher sales price.
- The property is differentiated from competing properties, freezes the market.
- The seller is guaranteed that the property will be given significant exposure to the marketplace, and will know in detail how the property is going to be marketed and promoted. The seller will benefit from a customized auction marketing campaign.
- The auction will cause interested buyers to come to a point of decision; will get those straddling the fence off the fence.
- The property will be placed in the Greater Cincinnati Multiple Listing Service. Real Estate agents will be offered a two percent co-op buyer broker/agent commission if they properly register the buyer. The real estate community will be motivated to register bidders for the property.
- Removes the seller from price negotiations, the competition from interested parties will determine the value of the property. The auction will allow the basic economic principle of “supply and demand”, to determine the selling price.
- An auction can be successful with as few as two bidders.