Seller Benefits from Auction
- Offers seller another option
- Creates competition among buyers—auction price can exceed the price of a negotiated sale. An auction generates excitement and heightens buyer interest.
- Exposes the property to a large number of pre-qualified prospects.
- Accelerates sales-the property can sometimes be closing within six-eight weeks of listing.
- Eliminates high seller carrying costs—(such as interest, taxes, maintenance)
- Auction brings interested buyers to a point decision—they must act now or lose an opportunity to purchase.
- A seller knows exactly when the property will sell.
- Auction reduces the time the property is on the market.
- Auction eliminates numerous and unscheduled showings.
- Auction takes the seller out of the negotiation process.
- Auction is an aggressive, advance marketing program that increases potential interest in and awareness of a property.
- Seller is able to obtain liquidity
- Seller is able to move on to other investments and free up capital.