Real Estate Auctions vs. Traditional Listings : Looks Like Auctions are Getting the EdgeNovember 1st, 2010 by PA - Bloger
With the real estate market still floundering, many sellers today are turning to real estate auctions instead of using the traditional listing method. For both residential and commercial properties, real estate auctions are proving to be successful at making the sale while bringing in a lucrative profit. According to ezinearticles.com, “In the U.S. today, more people are actually buying foreclosures or properties on auction than they are making traditional real estate purchases.”
There are a plethora of benefits to real estate auctions for sellers, especially in today’s market. For starters, selling by auction puts your property in the spotlight on a specific date and time rather than being ‘just another listing’ in the thousands of properties using the traditional listing method. Buyers bid competitively, driving up the price of the sale rather than being negotiated down as with traditional listings. Sellers can be sure that people attending their auction are seriously interested in making a purchase, instead of enduring countless potential buyers who are often ‘just looking’. Also, an auction is an effective marketing strategy of a property, where it creates a unique curiosity and sense of urgency in buyers and investors.
Obviously those in the real estate industry are well aware of these benefits and more. United Country – Stone Auction & Realty has a key multi-property auction coming up on November 15 in Wilson, NC, including a 37,000 SF commercial steel building on a 3.4 acre lot. There are also a host of residential properties set for auction, including a 3,740 SF luxury lakefront home in Bonneau, NC represented by Tranzon Integrity Partners on November 2. With the success rate of real estate auctions only increasing, you can expect more sellers and investors to be taking advantage of this profitable option.
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