Real Estate, Commercial, Estate/Downsizing

Auction VS Traditional Real Estate




Quick. Most auction sales occur in 30 days or less.   May remain on the market for months or years.
NO Limit to what buyer may offer.   Buyers' highest offer is limited by asking price.
Property sold 'As Is' with NO contingencies. Non-refundable.   Properties often times sold with contingencies. Contract many times fall through or after numerous inspections seller is asked to make concessions, repairs, or lower their price.
NO guess work in establishing the price.   Seller risks overpricing and no interest or underpricing and selling too low.
Extensive advertising featuring your property.   Minimal advertising. One of many often lost in the shuffle.
Buyers are forced to act on your deadline.   Little motivation for buyers', you wait for them.
Term set by the seller prior to the auction.   Seller must negotiate many aspects of the sale.
Auction creates a sense of urgency to promote buyer interest   Price reduction encouraged to create buyer interest and activity
No limit on upside potential – price is bid upwards to realize maximum market value.   Upside potential limited by asking price – Price is usually negotiated down.

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