By Richard W. Bronstein
With winter drawing toward an end and spring around the corner, we have been experiencing our seasonal slow down of real estate sales – in part, due to the weather.
Many sellers become impatient. One can understand that it takes a little more motivation to home shop during the colder temperatures and more particularly when one must trudge through the snow of winter or the spring mud.
If you are tired of listing and waiting and are seriously motivated to sell, you may try many things. The most effective of these are to reduce the asking price or to consider the public method, sale at public auction. The thought may be a bit disarming at first; however, after considering the facts you may want to investigate further.
Contemplate the fact that many prospects are somewhat shy about calling an agent for fear they will be pressured or called repeatedly. A public sale beckons them in with anonymity.
Public sales offer the opportunity for bargain or fortuitous purchase price. This motivates people to attend and to participate.
Auction advertising is more effective. It spotlights an offering giving it individuality and great visibility. It is a bold straight forward form of marketing which is open and fair to all.
At auction, the seller has the advantage of negotiating with a multitude of prospects rather than being at the mercy of one offer at a time. Privately, one sets a price and dickers downward. At auction the sky is the limit, within reason of course.
It is not uncommon for a property auction to equal or surpass the former list price.
Public marketing is timely and prompt. It is the only way you Pick the Day You Sell.
If you fear the possibility of selling for a low price at auction remember that educated consumers will assure that the property goes for a fair price. The more desirable a property, the greater the demand. The better the competition, the higher the price. The seller is able to take advantage of the competition.
Yes, you may reserve the right to reject the bid if the bidding does not reach your price or you can attempt to maximize the auction method. Either way, you can benefit from the instant supply and demand as well as enthusiasm created at an auction.
If you are serious seller you should investigate the auction method. It is not a last resort, even though many of the properties sold at auction could not have been sold any other way.
Auction costs are usually competitive with other real estate brokers. Professional real estate auctioneers usually have moderately priced programs affording the greatest exposure and thereby the greatest opportunity to maximize your return. For the best results, look for experience and a reputation of reliable results.
Auctions are nothing new, they date back to 500 B.C., and they have always been a good idea. Auctions are today’s marketing advantage.