Auctions Provide A Fair Opportunity For Both Sellers And Buyers
Ever wonder what’s the most unbiased way for buyers and sellers to interact where both can engage each other without completely exposing their bottom line?
Is it with the list, wait, and continuously reduce method of traditional selling by agent/realtor? How does the seller know they really received the most a person is willing to pay with this method of selling?
Fact is they don’t, because with selling by private treaty with an agent/realtor there are always contingencies and it is never time definite. What does that mean? Contingencies – The private treaty method of selling puts the buyer in control of the sale where they are able to dictate to the seller what they want fixed, replaced or anything they are able to negotiate in the sale to get what they want. Time Indefinite – The sellers never know when their real estate will be sold. Sure an agent and/or realtor may have a contract and they are usually six months long or up to a year and sometimes even longer. Can the seller of a home afford to be at the mercy of a prospective buyer who can dictate when they will buy the home, what contingencies they demand and the price they are willing to pay?
Can sellers really afford to wait today to have a home sold? What about the price? What is too much to ask? What happens if it is not enough? How can they tell either way? Fact is they really can’t.
The auction method is the only method of selling where an equitable opportunity for both sellers and buyers to come together and discover what the market is willing to bear upon the real estate being sold.
With the auction method of selling, buyers are able to set a reserve price and/or a minimum they wish to receive for their real estate. At many auctions I often have bidders ask, “What is the reserve price for the real estate?” I politely ask them, “What is the most you are willing to pay?” Most then realize that it would not be fair for me to tell them what the seller is willing to take or for me to start the bidding at their highest bid. At the auction we provide the equitable opportunity for the sellers and buyers to engage each other when we call for bids. Sometimes the price is more than what the seller has expressed they wanted and sometimes it is less! The bottom line is that it is the reality of what the real estate is worth. This is called “true market value.”
With the auction method the sellers don’t forfeit the most their real estate could possibly be sold because they have not put a price on it by making the initial offer to the public. With the auction method the buyers don’t forfeit more than what the market will bear by making a counter offer that may be too high. The auction method is time definite and both buyers and sellers can plan to move forward with their respective lives by knowing when their real estate will be sold and/or purchased. Do you want to receive the most money possible for your real estate? Do you want to pay the least amount possible for real estate? You know now where both come together in the most fair and free market method of engaging each other – at auction. Contact us today and let us help make certain your hope by faith through grace today.