Do you consider yourself a progressive real estate agent who keeps up with technology? Are you using online auctions yet?
Here are some of the advantages/reasons to look at adding online auctions to your services.
Reason #1: It's a Quick Sale
An online auction gives the owner an opportunity to sell at today's prices and not wait for a buyer to bring an offer.
Reason #2: High Carrying Costs are Avoided
All property incurs costs during it's marketing period. By accelerating the sale the owner will substantially reduce the holding costs such as debt service, taxes, HOA fees, insurance, maintenance, etc.
Reason #3: Property Market Value can be Demonstrated
Instead of relying on the appraiser to assign an asking price, the auction process demonstrates the value of the property to the sellers and potential buyers. Selling a property using the traditional method, you may wonder whether you could have bargained higher. If a property is sold at auction, the proof of the market value is in the process itself, the selling price is truly market-driven.
Reason #4: Auctions Receive Maximum Marketplace Exposure
The marketing time frame for an online auction is more condensed than in traditional methods. Additionally, buyers are naturally attracted to auctions because they are different. They stand out and buyers become curious. Buyers don't want to miss out on a great deal so they visit the property.
Reason #5: An Urgency to Buy is Created
An online auction has a specific ending date/time. A sense of urgency is created: "buy this property today, it won't be here or available when the bidding ends". It forces hesitant buyers to act.
Those are some of the main reasons, to learn more about using online real estate auctions join us on our next training session.
Wednesday, August 11, 2010
Why use an Online Auction?
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