Auctioning Real Estate
SOLD!! May 6, 2006
FACT: Over $110 billion worth of real estate holdings were sold last year using the Auction Method of Marketing.
At Garst Auction Service, we have found that a professionally conducted public auction - using aggressive marketing techniques for targeted audiences, employing qualified, experienced staff and tracking the sale with the latest in auction software - has consistently resulted in properties selling at or above fair market value.
Benefits of Auction Marketing for Seller and Buyer
SOLD!! November 12, 2005
Selling real estate using the auction marketing method benefits all parties involved.
Benefits to Sellers:
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Our dynamic, multi-dimensional marketing campaign aggressively targets a large buyer’s pool, creating interest and increasing visibility.
The seller controls the sales process and can determine the date and time that is convenient for him/her.
Registered bidders are pre-qualified, eliminating potential financing problems.
Seller knows exactly when property will sell—typically within 3-5 weeks.
By quickly selling the property, the seller eliminates long-term carrying costs, including taxes & maintenance.
Selling real estate at a public auction creates an exciting atmosphere which encourages competition amongst potential buyers…and the result of that competition invariably produces a top, fair market sale price.
SOLD!! October 22, 2005
Benefits to Buyers:
Auctions eliminate a long negotiations process.
The Buyer determines the price through competitive bidding.
By seeing others bidding at the same level, he can rest assured that the property is being purchased at fair market value.
The Buyer knows that the Seller is committed to selling and knows both the purchasing and closing dates.
Benefits to Realtors:
An auction exposes the property to many interested people and generates a list of ready, qualified buyers.
Successful auctions result in referrals and return business the agent/broker.
You will have no responsibility to show the property, to take offers, negotiate, or for the cost of advertising, but still receive a commission.
Auction buyers are pre-qualified and the high bidder’s deposit is non-refundable.
Realtors have the opportunity to pre-register a buyer to bring to the auction event and be compensated at closing.
Auctions offer your clients and customers new selling and buying options.
Buying and selling real estate at an auction event is a winning proposition for all involved. If you have property you need to liquidate, call us…and let us do the work for you!
Auction Method Works for All Property Types
Many believe that the only real estate sold at auction is distressed properties, like foreclosures. Nothing could be further from the truth! A recent article published in the Wall Street Journal states " ... going to the gavel is becoming a popular option for even thriving businesses and wealthy landowners who want to get rid of property quickly. Among those increasingly turning to the auction block are burgeoning retailers who need to sell one store to make way for a new one nearby, consolidating banks with overlapping branches, and owners of valuable parcels looking to avoid taxes during protracted sales negotiations."
Using the auction method is becoming an increasingly popular technique for selling real estate. The National Auctioneer's Association predicts that within the next 10 years, 35-50% of all real estate will be sold by auction marketing.
