How Realtors participate in Auctions? And why they should.

(Source - From National Association of Realtors)


· Buyers come prepared to buy

· Quick disposal reduces long-term carrying costs, including taxes & maintenance

· Assurance that property will be sold at true market value

· Exposes the property to a large number of pre-qualified prospects

· Accelerates the sale

· Creates competition among buyers—auction price can exceed the price of a negotiated sale

· Requires potential buyers to pre-qualify for financing

· The seller knows exactly when the property will sell

· Eliminates numerous and unscheduled showings

· Takes the seller out of the negotiation process

· Ensures an aggressive marketing program that increases interest and visibility


· Smart investments are made as properties are usually purchased at fair market value through competitive bidding

· The buyer knows the seller is committed to sell

· In multi-property auctions the buyer sees many offerings in the same place at the same time

· Buyers determine the purchase price

· Auctions eliminate long negotiation periods

· Auctions reduce time to purchase property

· Purchasing and closing dates are known

· Buyers know they are competing fairly and on the same terms as all other buyers

· Buyers receive comprehensive information on property via due diligence packet


· Generates a list of ready, qualified buyers

· Offers clients and customers new selling and purchasing options

· Increases revenue and market share

· Develops your own market niche

· Assurance that property will be sold at true market value

· Property is sold within a relatively short period of time

· Exposes the property to many potential purchasers

· Auctions bring people in to look at all your listings, not just the auction listing