|
Auction Event
|
|
Traditional Sale
|
| Focus is on your property alone. |
|
Property one of many being advertised and
shown. |
| Results in offers in 60-90 days or less. |
May remain on market for months or years. |
| Extensive advertising featuring your property
exclusively. |
Minimal advertising; heavy reliance on
Multiple Listing Service. |
| Buyers act on your schedule. |
Little motivation for buyers; you wait
for them. |
| Auction provides catalyst to promote buyer
interest. |
Price reduction encouraged to create buyer
interest in activity. |
| Realizes the property's true market value.
No limit on upside potential. |
Upside potential limited by asking price. |
| Eliminates guesswork in determining the
asking price of the property. |
Seller risks overpricing, and thus seeing
little interest, or under pricing and selling for less
than the property is worth. |
| All conditions of sale set in advance,
thus eliminating negotiations. |
Seller must negotiate all aspects of sale. |
| Property sold without contingencies. |
Contingencies are common. |
| All offers are presented to the seller
before and during the auction. |
Few offers are received, multiple offers
at one time are rare. |
