The Home Auction

Is it right for you?

In the current Buyers Market, home sellers are having to think out side the box and try new things to sell their houses. One proven method that doesn’t get enough positive play is the auction. Just using the term auction conjures up those sad images from the 70’s of poor farmers standing on the sidelines and watching as the family farm and all the implements and livestock were auctioned off.  Well, unless you’re headed down the slippery slope towards foreclosure already, a modern home auction doesn’t have to feel like that.

In fact, you may end up getting more for your house using the auction process than you would through a normal sale. Real  Estate One recently partnered with Masterbid Inc., a real estate auction house to begin offering their services to our sellers. From their Web site - www.masterbidinc.com come these thoughts about the auction process.  

The Auction Method of Marketing Real Estate is:

• Exciting
• Thorough
• Complete
• Cost Effective
• High Level Promotion
• Intensely Competitive Among Buyers
• Forces Highest Possible Price Levels
• Allows Sellers Control

Establishes Goals - Seller determines the how, when, where, and what conditions at which the property will be sold.

Dates and Deadlines - Sellers establish specific predetermined sales dates as opposed to having properties tied up in markets for months, sometimes years.

Advertising and Promotions - Condenses a year or two of advertising and promotions into 30-45 days. Creates much more exposure and generates much higher level of interest for buyers than any conventional approach. A Seller's advantage.

Market Value - The Auction will separate the lookers from the real buyers. The auction will put buyers in competition with each other to force prices to their highest possible levels and typically results in highest selling prices.

Negotiating - Reduces stressful and unnecessary negotiations for the Seller by pre-arranged terms and conditions, expedites closing, curtails after-sale liabilities.

The "AUCTION" method of marketing Real Estate should be the first choice of marketing properties, not the last. The "Auction" has become the method trend in Real Estate.

• By selling your Real Estate at Auction, you can receive cash quickly and lower your holding costs (interest, taxes, etc.) thereby making you more profitable.
• Auctions give you the opportunity to have your property sell for more than you would have ever asked for!
• Auctions provide competitive bidding with many potential buyers instead of just one.
• An Auction allows you to market the property and sell different parcels with the buyers determining the best way to sell by their actual bids. You get the most money possible.
• An Auction allows you to choose the date you will sell your Real Estate rather than waiting for a long period of time for a "good" offer.
• An Auction allows you to determine the terms, negotiations are virtually eliminated except for the final price and the sale is sure to go through because all terms are already decided, in a way that most benefits you the seller.
• An Auction after sale liability is greatly reduced, a property typically sells "AS IS, WHERE IS, with all faults." Through a planned inspection and proper information, the seller has much less to worry about concerning the after effects of a sale.

Copyright © 2001 Masterbid, Inc. - All Rights Reserved

So, give me a call and let’s discuss whether the use of an auction may be right for you. I will arrange an appointment with our local Masterbid, Inc representative if we determine that your situation could benefit fro this approach. Let’s both get outside the box and get your house sold!

Another auction company that is active locally and that some Real Estate One agents, includign myself have been involved with is US Home Auctions, visit them at  - www.ushomeauctions.com They apparently have a contract to sell off many of the old Countrywide foreclosed homes in this area.