Benefits to Seller
• Buyers come prepared to buy.
• Quick disposal reduces long-term carrying costs, including taxes and maintenance.
• Assurance that property will be sold at true market value.
• Exposes the property to many 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.
• The seller sets the terms and conditions of the sale.
• Eliminates numerous and unscheduled showings.
• Takes seller out of the negotiation process.
• Ensures an aggressive marketing program that increases interest and visibility.
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Benefits to Realtor
• 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.
• Successful auctions result in referrals and return business.
• Builds rapport with auction firms.
• Agents can earn commissions as referring, cooperating or listing agent/broker.
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Benefits to Buyer
• Smart investments are made as properties are usually purchased at fair market value through competitive bidding.
• The buyers knows the seller is fully 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.
• 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.
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