Selling Real Estate at Auction
Auctions are no longer for distressed properties only! Real estate Auctions have become much more of a common method to promote and sell real estate. Many properties are sold with warranty deeds and title is conveyed to the buyer through the same closing process that takes place with a traditional sale. In many states Auctioneers are required by law to be licensed the same as a traditional real estate agent.
Real estate Auctions differ from a traditional listing in that they involve an aggressive advertising campaign that builds a competitive atmosphere and procures the highest offer from the buying market in a given time frame. Real Estate auctions are the first place a motivated seller should turn because they will use the least amount of resources to sell their property at fair market value.
Auctions have always been and will always be one of the truest methods to determine value by balancing supply and demand. Real Estate Auctions ultimately determine value by how much the willing and able market will competitively pay for the property.
The Auction Advantage
- “Spot Light” marketing, your property is the main focal point
- Competitive bidding increases the price
- Sell real estate on a predetermined date
- The only way to sell multi-parceled real estate! Selling all the real estate in one day
- Reduce carrying costs, sooner property sold, the more the seller makes
- Buyers are pre-qualified with large deposits
- Urgency is created amongst buyers putting seller in control of the sale
- Seller dictates the terms of the sale
- As-Is condition, no contingencies for buyers to void the sale, all buyers are on the same level and bid equally
- Personal property sold on the same day as real estate
- Pre-scheduled open houses
A seller’s real estate market lends itself well to the competitive bid atmosphere. Despite conventional perception, in a strong real estate market there is no better way to sell real estate than at auction. Bidders establish values on properties that amaze everyone in a positive way.
One of the large differences between private treaty and auctions is the marketing approach. Private treaty focuses on volume and size of a company’s inventory, and auctions emphasize their marketing on one particular property. In a soft real estate market auctions still work well because the spot light marketing dives into the buying pool and draws bidders to the auction that may not be normally looking for that property on their own. Also, the perception of getting a deal brings people to the auction, especially during these times.
Real Estate Agent Co-Broke
Lambrecht Auction & Real Estate Co. is open and willing to work with private treaty agents to get properties sold. Strong relationships are quite possible, and co-existance does not have to be a competitive threat. We are interested in being another tool in your briefcase. Doing business with us is no different than doing business with other private treaty offices.
We also offer a referral commission to any agent that brings us a buyer to an Auction that becomes the high bidder on a property.