Selling by Auction
Benefits of Selling By Auction
* Auction assures the vendor of priority
Auction is like travelling first class. You may pay extra for it but you get wonderful service as you go. For an agent with an auction property his first thought each day as he gets to work is " what do I need to do for my auction cleint today ?" The auction clients get first priority with the agents time and efforts. This can be the most important benefit for many vendors and can be the difference between success and failure when practiced by the salesperson.
* Moves the property up to the head of the queue
When a property is presented as for sale by auction most of the buyers will put it on their "must see" list. It just might be a bargain and they won't want to miss out. The more buyers exposed to the property, the greater the chance of a sale.
The potential buyer is put into a position where they need to take steps right away if they are going to own the property. This may mean getting bank approval or having their lawyer check the auction conditions. It may on the other hand mean making an offer on the property to try and head off any other buyers.
They are always aware that they need to avoid delay.