Auction vs. Traditional Process
SMITHERMAN REALTY can market your property by the traditional Listing Method or your choice of an Absolute or Reserve Auction Method. There are times when both methods are used on the same property. This can result when a normal listing expires and the owner desires to place property at auction or when a property does not sell at auction and the owner desires to place the property on the market through a traditional listing. Following is discussion about the basic characteristics of an AUCTION VS TRADITIONAL PROCESS.
- Generally sells property within a shorter time frame.
- Broker represents the SELLER ONLY.
- Marketing is more intense for a shorter time frame.
- Buyers perceive that the property is actually going to be sold on a certain date.
- Property is sold “AS IS WHERE IS”.
- Attracts buyers who have already acquired financing.
- Reduces the time required for a seller to “show property”.
- Highly desirable properties generate competitive bidders driving the prices higher.
- Less sought after properties draws investors resulting in a quick cash sale.
- Sale price is set by the bidders, not through negotiations.
- AUCTIONS CREATE ACTION.
- SMITHERMAN REALTY AND MYERS AUCTION SERVICE personnel provides 60 years of real estate experience
- Marketing is tailored to a specific property with major signage, print, multiple national web sites, regional/local web sites and the social net work of “face-book”, “twitter” and “You Tube”.
- Provides more time on the market for broader customer review
- Encourages a negotiated type sale transaction
- Provides more time for buyer to acquire their own inspections and appraisal.
- Listing can provide for long term exposure to the market.
- Broker can represent both the seller and buyer as a dual agent.
- Marketing is tailored to a specific property with signage, multiple national web sites, regional/local web sites and the social net work of “face-book”, “twitter” and “You Tube”
- Provides for other Brokerage Firms to sale the property as “Co-Brokers”.