·
Never has to worry about selling too cheap
· Offers
the seller another option
· Creates competition among buyers
– auction price can exceed the price of a negotiated sale. An auction generates excitement and heightens
buyer interest
· Exposes the property to a large
number of pre-qualified prospects
· Requires that
potential buyers pre-qualify for loans
· Property is sold
as is, where is and how is without contingencies
· Accelerates
sales – the property can sometimes be sold within three weeks of listing
· Eliminates
high seller carrying costs – (such as interest, taxes, maintenance)
· Auction
brings interested buyers to a point of decision – they must act now or lose an opportunity to purchase
·
Auction is a true market forum – the highest buyer pays the lowest price a seller will accept
·
A seller knows exactly when the property will sell
· A
seller sets the terms and conditions of the sale, maintains control of the property throughout the auction (depending on auction
type), and actively participates in the sale process
· Auction reduces
the time the property is on the market
· Auction eliminates
numerous and unscheduled showings
· Auction takes
the seller out of negotiation process
· Auction is an
aggressive, advanced marketing program that increases potential interest in and awareness of a property
·
Seller is able to obtain liquidity
· Seller is able
to move on to other investments and free up capital
