Auctions Allow People to sell and Acquire What They Need - Fast
The 2020 National Auctioneers Week runs this week from April 27 – May 2. We celebrate this week by sharing informational pieces across social media, an “Ask an Auctioneer” Q&A on Friday. Follow us on Facebook to receive updates like these in the future. National Auctioneers Day on Saturday, May 2, 2020. Our auction team sells various types of real estate and personal property. The auction marketplace holds opportunity for both people who need to liquidate their assets and those who want to invest in their future (via dream homes, agricultural and ranching pursuits, buying businesses, etc). Our United Country Real Estate Property and Auctions team is here to serve clients with our national marketing and local expertise. To learn more about our team, click here to read their bios.
Here are a few reasons auctions may be the solution you’ve been searching for:
Sense of Urgency
Auctions create sense of urgency – Holding onto property can be expensive and continual showings can be intrusive. If your property is on the market for over a year, you have to account for all the interest, insurance, maintenance and repairs it has cost you. Auctions generate a sense of urgency and competition among buyers. By reducing the time your property is on the market, concentrating all the showing activity into a few specific dates and marketing a specific sale date, you are requiring buyers to take immediate action or risk losing the opportunity to purchase your property.
Auctions allow you as a seller to set when and where the auction will take place (whether online platforms or physical locations), as well as the pricing, terms and conditions of the sale. This will eliminate contingencies and remove you from the negotiation process while allowing you to maintain control of the property and actively participate in the sale.
Greater Exposure for Your Property
An auction is a fully-fledged event, which creates “action” in the marketplace. Advertising and marketing via professional brochures, online advertising, print ads in key publications, targeted direct mail, e-mail marketing, property signs, telemarketing and a webpage with photos and documents gives your property targeted and complete market coverage. It drives the marketplace to your property versus waiting for them to find you on their own.
Buyers Arrive Ready to bid
An auction tells the market that you are serious about selling and buyers are moved by this message. Properties sold at auction are sold “As-Is, Where-Is and as you know it to be.” This means that the sale will conclude on auction day without contingencies such as financing, inspections or appraisals, and closing can occur within 30 days from the date of your acceptance of the offer. Buyers are provided due-diligence information ahead of time and arrive at the auction (online or in-person) having done their homework. They’ve acknowledged the terms and conditions up-front and must be pre-qualified and registered to bid.
Full Transparency for all Parties
Auction sales are conducted in an open forum, which allows both you and informed motivated buyers to watch the property’s true market value to be realized as the bidding process progresses. All bids are open and visible, so the marketing process creates a level playing field for everyone. A potential buyer can opt to bid or not bid with a clear understanding of the property’s demand. Rumors and claims that “another buyer may be interested” have no meaning when a buyer can readily see and evaluate a solid bid with money on the table.
Perhaps the most important and often overlooked detail
Bidding always drives the price up rather than negotiating it down!
Call 352-225-3668 today to make a consultation with one of our auctioneers!