The auction method of marketing Exposes property to a large to number of pre-qualified prospects and creates competition among buyers-at times exceeding the price of a negotiated sale.
The auction process creates an atmosphere of excitement and competition.
Auction benefits a seller in both strong and slow markets.
- in a strong market, the competitive bidding process provide unlimited upside potential
- In a slow market, auction allows the seller to sell property quickly at current market price and avoid the risk of overpricing and then offering price reduction after price reduction to manner.
- stimulate buyer interest and maintain market conditions.
The auction process treats all parties in the transaction in a fair an equitable manner.
The terms and conditions of the auction are the same for everyone. When property is sold by auction, no potential buyer has an unfair advantage.
To review a value of an item and put on a dollar tag amount attached to that item to protect it.