Sellers Benefits of a Real Estate Auction:
-Real Estate Auctions offer the seller another option.
-Auctions create competition among buyers. Consequently, the Auction price can exceed the price of a negotiated sale.
-An Auction generates excitement and heightens buyer interest.
-An Auction creates the most exposure in the shortest period of time and accelerates sales.
-Requires that potential buyers be registered and qualified with certified funds on the day of the Auction.
-Eliminates high seller carrying costs -- such as interest, taxes, and maintenance.
-Auction brings interested buyers to a point of decision -- they must act now or lose an opportunity to purchase the property.
-Auction is a true market forum.
-A seller can plan and select the date they want to sell. They control the sales process.
-A seller sets the terms and conditions of the sale while maintaining control of the property throughout the Auction.
-Auction eliminates numerous and unscheduled showings.
-Auction takes the seller out of the negotiation process.
-Auction is an aggressive, advanced marketing program that increases potential interest in and awareness of a property.
-A seller is able to obtain liquidity, free up capital and move on to other investments or property decisions.
Office: 865-637-8777 Fax: 865-560-9400 Email: TotalAuctionandRealty@yahoo.com
TN LIC # F-5161 P.O. Box 34091 Knoxville, TN 37930
Office: 865-637-8777 totalauctionandrealty@yahoo.com TN LIC # F-5161 P.O. Box 34091 Knoxville, TN 37930
Auction Information
Q. What is a Real Estate Auction?
A. A real estate auction is an innovative and effective method of selling real estate. It is an intense, accelerated real estate marketing process that involves the public sale of any property—most certainly including those that are nondistressed—through open cry, competitive bidding.
Q. How will auction benefit me?
A.The real estate auction is a win-win proposition for everyone involved.
BENEFITS TO THE SELLER:
-Buyers come prepared to buy
-Quick disposal reduces long-term carrying costs, including taxes & maintenance
-Assurance that property will be sold at true market value
-Exposes the property to a large number of pre-qualified prospects
-Accelerates the sale
-Creates competition among buyers—auction price can exceed the price of a negotiated sale
-Requires potential buyers to pre-qualify for financing
-The seller knows exactly when the property will sell
-Eliminates numerous and unscheduled showings
-Takes the seller out of the negotiation process
-Ensures an aggressive marketing program that increases interest and visibility
BENEFITS TO THE BUYER:
-Smart investments are made as properties are usually purchased at fair market value through competitive bidding
-The buyer knows the seller is committed to sell
-In multi-property auctions the buyer sees many offerings in the same place at the same time
-Buyers determine the purchase price
-Auctions eliminate long negotiation periods
-Auctions reduce time to purchase property
-Purchasing and closing dates are known
-Buyers know they are competing fairly and on the same terms as all other buyers
-Buyers receive comprehensive information on property via due diligence packet
BENEFITS TO THE REALTOR®:
-Generates a list of ready, qualified buyers
-Offers clients and customers new selling and purchasing options
-Increases revenue and market share
-Develops your own market niche
-Assurance that property will be sold at true market value
-Property is sold within a relatively short period of time
-Exposes the property to many potential purchasers
-Auctions bring people in to look at all your listings, not just the auction listing
-Successful auctions result in referrals and return business
-Agents can earn commissions as referring agent/broker, cooperating agent/broker, or as the listing agent/broker
Buyers Benefits of a Real Estate Auction:
-Smart investments are made because properties are purchased at fair market value.
-The Buyer knows the seller is committed to selling the property.
-The Buyer determines the purchase price through competitive bidding.
-Auctions eliminate the long negotiation process.
-The purchasing and closing dates are known.
-The Buyer knows he is negotiating fairly and on the same terms as all other buyers while they openly compete with one another.
