Having auctioned real estate now for over 2 decades throughout Canada, there is one question that I get asked more than any other: “Why would anyone want to auction their Real Estate”. The question is often asked by sceptical realtors, homeowners, and other property owners.
Here’s Why:
You will set a
minimum price.
Yes, that’s right! Although
you may have been told otherwise, you the seller of the property, will set a
minimum price and you do not have to sell if the offer comes in for less than
that. You don’t even have to sell if the offer comes in for more than that if
you don’t want to. You will have the
option after receiving the highest offer to: accept, reject, or sign the offer back with
changes.
You set the day of
sale and any other terms in the offer.
Unlike traditional
real estate we complete the offer with you prior to putting your property up
for auction so if there is something you would like, or not like in the offer,
such as sold as is or no appliances included this is how the offer will be
written and all people who bid must adhere to the offer.
You have a definite
sale and closing date.
Just like every other
detail in the offer you can select what day your property will sell and when it
will close.
MARKETING!!!
Being a Real Estate
broker since the early 90’s and having sold real estate since the 80’s I can
tell you Realtors in general do not know how to market your property.
When auctioning your
property with North American Auctioneers you will receive marketing designed to
attract as many buyers for your property as possible, and we don’t just mean
MLS which is also included. North American Auctioneers will prepare a marketing
plan for your property prior to the start and discuss the various options and
best strategy to make sure you we have as many buyers as possible bidding
against each other to buy your property. Our last 2 properties attracted over
30,000 people in only 3 weeks of marketing!
Quick recap, the
sellers:
- Set a minimum price prior to putting the property up for auction
Buyers will bid against each other on the sellers terms
- Set a day of sale, and closing
- Will have their property marketed properly to tens of thousands of potential buyers including MLS Listing
- You have control over the entire process and will be given updates regularly as the marketing progresses
So, the questions is:
“Why would you not auction your property?”
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AUTHOR’S NOTE:
Michael Marienwald is founder and president of
North American Auctioneers, Broker of record for Anchor Realty and president of
Mountain Realty. He is one of 4 Accredited Auctioneers of Real Estate in
Canada, and a Certified Real Estate Auctioneer. Michael has been selling Real
Estate conventionally and through auction throughout Canada since 1989 and has
also taught Real Estate auctioning at the Ontario School of Auctioneering.