Comparing Auctions with ordinary Sales with a Realtor
Auction Method vs Ordinary Sale |
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| Auction Method | Ordinary Sale | Focus is on your property alone. | Property one of many being advertised and shown. | Auction conducted in 60-90 days or less. | May remain on market for months or years. | Blitz advertising showcasing home throughout the market place. | Minimal advertising; heavy reliance on Multiple Listing Service (MLS). | Buyers act on your schedule. | Little motivation for buyers; you wait for them. | Auction creates a sense of urgency to promote buyer interest. | Price reduction encouraged to create buyer interest and activity. | Realizes the property's fair market value. No limit on upside potential. | Upside potential limited by asking price. | Eliminates guesswork in determining the asking price of the property. | Seller risks overpricing, and thus seeing little interest, or under pricing and selling for less than the property is worth. | All conditions of sale set by seller in advance, thus eliminating negotiations. | Seller must negotiate all aspects of sale. | Property sold without contingencies. | Contingencies are common. |
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Sellers at Auction2Sell 