If I want to sell one of my homes quickly, perhaps by a certain date, I may consider having an auction. I’ve learned an important thing about auctions which is that the auctioneer I select is the first important choice and it can make all the difference in the selling price. His or her marketing ability and auctioneering skills (it’s more than just talking really fast!) influence the size of the crowd and the bid amounts. I’ve found that good property auctioneers are rare, especially those that can organize and conduct the auction on short notice when I need to
sell my home quickly.
I have attended property auctions held by various auctioneers in so that I could watch each auctioneer in action and also watch the crowds. Turns out, this decision was a good investment of my time because I saw what went on and I knew what I might expect if he or she is auctioned my home for me. When I schedule an appointment to meet in person, I ask a lot of questions. Here are some of my typical questions to auctioneers:
Are you licensed to sell real estate and to conduct auctions in this state?
What do you charge to market in advance and to hold the auction?
What marketing activities can I expect in advance of the auction date?
How can I guarantee a minimum price on the home?
What happens if the winning buyer doesn’t close the transaction?
Each state has real estate laws that control the requirements for anyone to conduct an auction for the sale of real estate. But most commonly a person will need to be licensed as a real estate broker and also as an auctioneer, so he or she will have a unique combination of knowledge and experience to work for you. But, in addition, you will want to think about a person’s personality and consider references to make sure you can work together smoothly before, during and after auction day. In reference to the third question above, get promises in writing so that you know what to expect your auctioneer to do on your behalf as far as advertising and promotion are concerned. Newspaper ads, flyers, online classified ads, and open houses should all be on the list, though some of those may be impossible when I have to
sell my home quickly.
Buying a home at auction doesn’t allow much time for contemplation, unless the buyers have seen the house beforehand and had time to discuss it, underscoring the need for open houses when homes are sold quickly at an auction. Homes shown by real estate professionals usually don’t involve the pressure of certain deadline so buyers are not always familiar with the difference when they attend an auction where they have to make an immediate decision. Once again, a good auctioneer makes all the difference. Selling at auction has been the perfect way to sell my home quickly on more than one occasion.