Saturday, May 3, 2008

On the auction block

Today's real estate market is filled with uncertainty and that's why so many motivated sellers are gravitating toward auction sales.

Auctions have gained huge popularity because sellers want a definitive sale date and time. Depending on the area, the typical time on the market is about six months and with an auction you can speed it up to a four to six week period.

There are still many buyers who are unfamiliar with how an auction works, and that's where educated agents can make a big impact. Real estate agents who make the effort to understand an auction and the tools available to them which allow them to offer an auction to their clients will become extremely busy over the next few years.

Unlike traditional real estate where you wait for the market to come to you, in an auction you're going after the market and inviting it to the property. And, with the introduction of Internet bidding, more buyers can participate resulting in a higher selling price.

Experts in the field predict one in every three homes will be sold by an auction by 2010, is there any reason not to get started today?

No comments: