What Are the Benefits of a Real Estate Auction?

The real estate auction is a form of competition with inherent dynamics that cannot be duplicated by private real estate marketing. During the auction process, each bid reinforces the market value of the property which encourages continued bidding. In a traditional real estate sale, the buyer negotiates the seller down. In an auction, the buyer can win only if he outbids all other bidders. Additionally, a professionally-conducted auction eliminates potentially lengthy and costly sellout periods. It has often been demonstrated that a property that couldn't sell at any price was sold for top dollar in minutes at auction. This happens for two reasons:
The proceedings at an auction are led by your seasoned professionals at Vogel AuctionsThe property is effectively promoted and exposed to a multitude of interested buyers by our advertising team at Vogel Auctions. The Benefits to the Seller:
Buyers come prepared to buyQuick disposal reduces long-term carrying costs, including taxes & maintenanceAssurance that property will be sold at true market valueExposes the property to a large number of pre-qualified prospectsAccelerates the saleCreates competition among buyers - auction price can exceed the price of a negotiated saleRequires potential buyers to pre-qualify for financingThe seller knows exactly when the property will sellEliminates numerous and unscheduled showingsTakes the seller out of the negotiation processEnsures an aggressive marketing program that increases interest and visibility