You set the date and time! This is possibly the biggest advantage of the auction method of marketing. With an auction you set the date and you set the time when your property will sell. After her home had been on the market for months, a recent Curran Miller client decided to offer her home at auction because she was tired of wondering if and when her home was going to sell. Auctions can remove some of that uncertainty allowing sellers to make plans for the future.
You set the price! One of the biggest misconceptions about auctions is that an owner must sell their real estate for the high bid established at the auction. That isn’t the case! There are two types of auctions: Auctions with Reserve & Absolute Auctions. With a Reserve Auction, the seller can accept, reject or issue a counter offer.
You set the terms! With an auction, sellers can easily offer their real estate under their terms. For example, most owners opt to offer their property "As-Is, Where-Is" with no home inspection or financing contingencies. Simply stated....that mean all sales are final, which eliminates lengthy, sometime costly negotiations.