It?s?common knowledge?that home sellers are facing the bleakest market in years, and many have lost hope that their properties are ever going to be sold at a fair price. Now, there?s some good news because real estate auction has opened new?doors for home sellers and buyers alike. This?innovative real estate marketing option has proven to be extremely effective, helping many people to sell their homes at competitive prices.
Just like any other type of auction, a real estate auction involves open cry, competitive bidding. The seller puts the property up for auction and the buyers try to outbid each other.?In this?accelerated marketing process, there?s a win-win proposition for all parties. Usually, the buyer is required to pay a buyer?s premium or auction fee and the seller?s cost is just the cost of advertising. The main purpose of a real estate auction is to pool the maximum number of buyers who are interested to bid on the property at the same time. A real estate auction places the seller in the driver?s seat because the seller can reject the highest bid and refuse to sell the property. Real estate auctions are quickly gaining popularity in the US and other parts of the world. To learn more about this exciting?marketing option, contact?top Dunkirk REALTOR John Day and he will be glad to guide you along.
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Source: http://www.homes-database.com/blog/real-estate-terms/real-estate-auction-marketing/
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