Selling your Real Estate in Today's Market BROKERAGE or AUCTION?Real Estate Brokers and Auctioneers |
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It's an important decision. Do not make it a default choice. While most sellers are familiar with conventional real estate brokerage, we believe Sellers should educate themselves more fully about the use of Accelerated Methods such as Auctions, in the current real estate market. Both methods have strengths and drawbacks. |
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LISTING REAL PROPERTYFOR SALEYou've probably listed and sold real estate through a broker before. Typically, you list your property for sale at a price that you believe is the optimum value for the property. The broker brings you offers from qualified buyers and you select the best offer. Listing a property for sale tends to be more effective in a strong real estate market and less helpful in a weak one. Here's why: Moreover, you will need several offers from qualified purchasers in order to confirm your property's true market value. In a weak market these may not be forthcoming. Plus a property on the market for an extended period can decline in real value as holding costs accrue.
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TAKING THEAUCTION ROUTEAn Auction sends a strong time sensitive signal to potential buyers of real property. In a "mark to market" environment an auction is a hardworking event not just a public declaration of your desire to sell. A sense of urgency is created in buyers because every potential buyer has to be ready to buy on auction day.
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Keep In Mind:An auction requires an upfront cash outlay on the part of the seller for a multi-media marketing campaign. Our ad agency prepares a line item media budget tailored to your property and your market. Although every property may not sell at auction, we do not recommend an auction unless we think will be successful. Auctions are a significant commitment of time and expense for both the seller and the broker/auctioneer. Keep in mind that if a sale does not occur on auction day the marketing effort may still trigger a post auction sale. |