Q: Isn’t auctioning a property is usually a “last resort”… why would I want to do that?

A: People that sell at auction are sellers who want to take control of their lives, including when their property will sell. They may be builders who are closing out on a project, trustees settling an estate or residential or commercial property owners tired of the hassle and the “hurry up and wait” nature of the conventional method of listing and sometimes selling real estate. Auctions are fast, efficient and produce fair market value. The auction creates a sense of urgency. All serious people are brought together to compete, driving the price upward. You are assured of fair market value. The accelerated marketing techniques used with The Auction Method is typically the only method where you may receive more money for your property then you would have asked.

Q: Do I have to take whatever price is offered on the day of the auction?

A: There are two basic types of auctions. The Reserve Price Auction is most commonly used with real property. In a reserve price auction, the seller reserves the right to accept or reject any and all offers. The other type of auction is the Absolute Auction where the property will sell for the highest bid regardless of price. There are advantages to each type of auction; see the complete FAQs page for more details.

Q: How will my property be marketed different than a conventional agent listing?

A: Promoting a property for sale at auction is our specialty. Our proprietary Maximum Velocity Marketing program integrates your auction advertising through various media to inform prospective buyers about the upcoming auction and to generate excitement about the property being sold. We deploy our auction advertising in three media categories: print (which includes newspapers, signs, direct mail, billboards and magazines), broadcast and video (such as tel evision, radio, DVDs and CDs) and online advertising (including multiple web sites and direct email campaigns).

Q: How much commission will I have to pay?

A: None! The Buyer pays our commission in the form of a Buyers Premium. You do not pay a commission. However, the seller is typically responsible for the actual marketing expenses. There are exceptions to this so please be sure and ask us about it. The Auction Broker will provide you with various budget options to choose from and timetable for the sale of your property at auction.

Still have questions? Please visit our FAQs page for a comprehensive collection of Frequently Asked Questions regarding real estate Auctions or contact us.