Selling At Auction

The National Auctioneers Association reports that in 2009 $58.6 billion in commercial and residential real estate was sold at auction. This is an all-time high. The NAA predicts that by 2013, almost a third of real estate will be sold at auction.  Due to this extraordinary growth a comprehensive understanding of the real estate auction process is essential for all real estate professionals in today’s challenging market.

All sellers, regardless of the property type or situation, should consider auctions when deciding to list their property for sale.  While not for every Seller auctions do have many benefits that must be considered when making a listing decision.   Some of the benefits of choosing an auction to sell your property include:

• Ensures an aggressive marketing program that increases interest and visibility;
• Buyers come prepared to buy;
• Quick disposal reduces long-term carrying costs including taxes and maintenance;
• The property is exposed to a large number of pre-qualified prospects;
• The sale is accelerated;
• Sellers know exactly when the property will sell; and
• Elimination of numerous and unscheduled showings.

By tapping into our extensive database Equity Realty can match Sellers with the right auction company for their specific requirement.  Remember not all auction companies are created equal.  If you are selling a single family house in the country or a downtown condo picking the right auction company can mean the difference between success and failure.

Equity Realty does not conduct auctions for Sellers and is not a licensed auctioneer.  We provide consulting services to Sellers interested in the real estate auction process.  We can educate you on the basic process, solicit proposals from targeted auction providers and review and summarize the proposals.  Equity Realty will be your advocate when contracting with the auction company and we provide administrative support during the entire auction process.  Our fees are generally paid from the auctioneer’s fee so please contact Equity Realty today to set up your free consultation.