Real Estate Auctions

Residential and Commercial Real Estate

The use of the Auction Method of Marketing for the sale of all types of Real Estate is growing rapidly. Auctions are not only for individuals in distress. Auctions provide a quick sale, settlement in 30 to 45 days and costs that can passed through to the buyer. According to a study by the National Association of Realtors (NAR), one in three properties sold will utilize the auction method of marketing within the next ten years.

The Auction Method is the most efficient, most reliable and easiest way to achieve your goal: to get the most money you can for what you have without any hassle. The use of the Auction Method of Marketing for the sale of all types of Real Estate is growing rapidly. The idea that an auction is a last resort or only works best for distressed properties is no longer true. Auctions provide a quick transaction, save holding costs, and in many case, results in the best net profit to the seller.

Benefits of The Auction Method:

The seller gets to determine the date and time at which the property will be sold. Using the auction method, property can typically be marketed and sold within a four to six week time frame. A timely auction allows the seller to drastically reduce holding costs such as taxes, insurance and maintenance. An auction environment arouses the competitive spirit among the prospective bidders.

Setting a specific date and time of sale creates a sense of urgency and forces the prospective buyers to a point of decision. The seller can set the terms of the auction, thereby avoiding lengthy negotiations of price and terms. An advertising program is tailored to the seller's property which will attract the largest number of potential buyers. This insures a true "market value" price for the property on the day of the auction.

There is no ceiling price set on the property, which allows the price to increase freely with no limit. Historically, when the market is on the upswing, public auctions have established the highest prices. When the market is declining, an auction will capture the current market price before values drop.

The competitive bidding format creates confidence among the buyers when they see other people willing to pay a similar amount for the property.

Minimum Recommended Marketing Plan:

Local Newspaper Advertising
Online presence
 Free listing on Rawlings Auction & Appraisal Service Website
Auction Flyers
Full Color Brochures
MLS Auction Listing
Signage

Seller Frequently Asked Questions:

Q: Can I set a minimum on my property?
A: Yes, we analyze the property and consult with you about a minimum or reserve price prior to sale. The price is not advertised or     disclosed to bidders.

Q: How am I protected if the final bid is nowhere near the price I am looking for?
A: You can reject final bid and we will continue to market the property for a short-listing period.

Q: Isn't this method usually a distressed sale?
A: Absolutely not! In recent years the popularity of competitive bidding has exploded to estimate 28 billion in estimated sales.

Q: Who is responsible for paying the commission on the sale?
A: In this area, it is common to charge a buyer's premium. The premium is added to the final bid price resulting in the buyer paying for the commission.

Control:
The Seller remains in control, and has the option to accept or reject any bid prior to final confirmation.

Convenience:
An auction eliminates numerous and unscheduled showings, saving Sellers time.

COST:
The cost of the auction is typically covered by the buyer's premium that is added to the high bid to establish the final price of the real estate. In addition, we work with you in developing the best marketing plan for your property and determining any upfront marketing costs to ensure the most desirable outcome.

We are excited to have the opportunity to work with you in selling your home at auction. We understand that selling a home can be stressful and we do all that we can to help you through the process. The auction method has become a great alternative for many home sellers in obtaining the greatest amount of money for their home in the shortest amount of time. Here are just a few of the ways the auction method can work for you.