Realty Corporation of America believes that the auction method of selling real estate has many benefits to buyers, sellers and real estate agents. Unlike a traditional listing, where your property is only minimally advertised and can sit on the market for months and months, auctions accelerate the sales process.  In many ways, auctions are the opposite of traditional listings!  For example, instead of waiting around for an offer, auctions create a “date certain” of sale – thereby placing the seller in control over the sales process.  The seller can also establish bid terms (like the amount of a deposit required to bid and the closing date) while Realty Corp’s marketing campaign maximizes visibility and creates excitement. 

All told, there are many unique benefits to real estate auctions!  Kindly consider the following:

 AUCTIONS OFFER THE FOLLOWING BENEFITS TO SELLERS:

• Buyers are required to bring substantial deposits to the auction and come ready to buy
• A quick sale reduces long-term carrying costs, including taxes, mortgage payments, insurance and maintenance expenses
• An auction guarantees that the property will be sold at true market value following an open and fair bidding process
• Auctions expose the property to a large number of pre-qualified prospects
• Auctions create competition among buyers.  If many bidders like the property, an  auction price can exceed the price of a negotiated sale
• Auctions attract buyers who are already pre-qualified for financing
• The seller knows exactly when the property will sell – i.e. there is a “date certain” of sale
• The property is sold in its “AS IS” condition.  Thanks to Realty Corporation of America’s unique inspection service, the buyer is fully informed about the condition of the home – and the seller is not required to expend dollars making improvements to the property.
• The property benefits from customized, targeted and direct marketing that is specific to the property
• Utilizing the auction method of selling real estate eliminates numerous and unscheduled showings
• The seller is removed from the negotiation process
• Unlike the multiple listing services, where homes are often “lost” and where there is no urgency on the part of buyers to make a decision, auctions feature an aggressive marketing program that significantly increases both interest and visibility of your property

 AUCTIONS OFFER THE FOLLOWING BENEFITS TO BUYERS:

• Smart investments are made as properties are usually purchased at fair market value through competitive bidding
• The buyer knows the seller is committed to sell
• In the case of “ballroom auctions” or multi-property auctions, the buyer sees many offerings in the same place at the same time
• Buyers determine the purchase price and only bid up to the price they want to pay
• Auctions eliminate long negotiation periods
• Auctions reduce the time it takes to purchase property
• Purchasing and closing dates are known
• Buyers know they are competing fairly and on the same terms as all other buyers
• Buyers receive comprehensive information about the property thanks to Realty Corporation of America’s detailed bidder booklet

Realty Corporation of America welcomes the participation of real estate agents in the auction process. Agents may refer sellers to our auction team and receive referral fees, they may bring buyers to an auction and receive commissions or they may even want to consider a career with Realty Corporation of America because of our innovative marketing programs and our ability to “close the deal” and get properties sold!

 AUCTIONS OFFER THE FOLLOWING BENEFITS TO REAL ESTATE AGENTS

• Auctions generate a list of ready, qualified buyers
• Auctions offers clients and customers new selling and purchasing options
• Auctions are unique and can increase your revenue and market share
• Learning about auctions gives agents a unique market niche
• Your clients have assurance that property will be sold at true market value
• The property is sold within a relatively short period of time
• Auctions expose the property to many potential purchasers
• Auctions create excitement and allow a real estate professional to network with a large number of potential buyers and sellers.
• Successful auctions result in referrals and return business
• An agent with a client wanting to “list” a home can try traditional marketing first.  If that doesn’t produce a sale, the agent can utilize the auction method of getting a sale done at the end of the listing period.

To learn more about auctions, or to schedule an appointment to discuss auctions further, kindly contact Sarah Brewer at the Realty Corporation of America Auction Information Center at (216) 522-0020