Refer a property to auction

Here are 8 reasons to consider referring a property to auction:

When you need a fast paycheck
When your client needs a quick exit strategy.When you don’t have any funds for advertising a listing.
When the property has gone unsold for over 90 days.
When your listing will expire in less than 30 days and your client may not renew your agreement.
When the property is unique and hard to value.
When the market is hot (don’t leave money on the table)!
When the market is slow (auctions attract more attention).

This chart lists some of the basic differences between a traditional real estate listing and an accelerated auction listing:

Traditional Listing	Accelerated Auction Listing
When the property sells will be determined by the market – there may be no sense of urgency on either the seller or buyer side	Highly motivated goal-oriented seller creates a sense of urgency by choosing a date the property will sell
Sale date not known	The property will sell on auction day
Micro marketing	Aggressive marketing is accelerated into a 2-3 week period
List on MLS at seller’s desired price and the price goes down from there	Set a minimum bid and the price goes up from there with no ceiling
The property is listed on MLS	The property is listed on MLS with an “Auction” designation and specific auction comments
Agent drops the list price over time in an effort to find the market	Bidding starts at a floor price and competition takes it to market value
Listing period from 3 to 6 months or even longer	Only 4-6 weeks to find buyers for the auction
Contracts have contingencies	Properties are sold, As-Is with no contingencies for financing or repairs.
Your property is one of many on the market	An auction is unique and shines a spotlight on the property helping distinguish it from others
Low earnest money deposit	Substantial earnest money deposit is non-refundable
The property must appraise at the sale price or the deal will fall through	There are no contingencies for financing

About AuctionFirst
- We’re an accelerated auction marketing firm that has successfully auctioned real estate throughout the Triangle region since 2005. Over 400 local real estate agents have attended our education classes on the Fundamentals of Real Estate Auctions, a class approved by the NC Real Estate Commission. We’ve worked with all the major brokerage companies in the region whose agents have either referred a property to auction or represented a buyer at auction. What can we auction for you? 800-220-6760.

Modern Home Auction