Auction means action. In a challenging market, sellers (and Realtors) can feel like they are at the mercy of buyers who have no sense of urgency or impetus to take action on a listing. With an auction sign goes up, the public gets a message: “this property is going to sell. If you want it, take action now.”
Garth’s auction services help you put control back into the hands of your sellers – who trust you with their most valuable asset.
Real estate auctions:
- are generally conducted "as-is, where-is". Buyers are encouraged to have a home inspection in advance of the auction; but with no expectation of the seller addressing the issues found.
- often mean selling with no contingencies.
- eliminate wasted time with buyers who are not serious. Bidders are presented with the seller’s contract – and must pre-qualify for financing, make a significant cash deposit the day of the auction, and come prepared to close within the specified time period.
- are a call-to-action. A for-sale sign tells a passer-by that a seller is offering a property for sale. They can look today, tomorrow, or next month. An auction sign says, “this property is selling on this date and time”. Period. Interested parties are given a sense of urgency; a reason to call. No one wants to miss “a good deal”!
Savvy business owners who have weathered tough market conditions know that a shift in paradigm can be necessary to boost sales. Realtors looking for new strategies to obtain listings and close properties understand that the auction method is a viable tool in their arsenal; one that should be considered first.
How can the auction method help you secure (or keep) a listing?
Offer competitive commissions (without compromising your income).
- How many sellers would happily sign a listing with you if you could offer 0% commission? When selling by auction, we can often utilize a buyer’s premium, removing the burden of commission from the seller. In some areas, a Buyer’s Premium of up to 10% can be supported. In other cases, the commissions can be split by using a combination of seller’s commission and buyer’s premium. Garth’s professionals have the experience to structure the most advantageous commission for you and your clients. In almost every situation, you can be assured the same net commissions, or more, than you would experience listing the property traditionally.
Help your seller mitigate high carrying costs...
- How many sellers would contract your services right now, if you could schedule the closing when you list a property? Auctions are usually scheduled 6 to 8 weeks after an auction listing agreement is signed. Closing is then scheduled 30 to 45 days after the auction. Sellers should anticipate closing on their property within 90 - 120 days of signing a listing agreement. Selling by auction saves the seller carrying costs and offers the added benefit of creating stability in your commission earnings.
Offer a new approach to a stale listing...
- Now, more than ever, sellers understand that they need to be more flexible and creative to sell their property. After months on the market, they are more willing to listen to alternative selling strategies. Garth’s professionals will help you approach your client with the auction solution – and are prepared to answer every question and put them at ease with the process.
What if a property does not sell at auction?
Most properties that are carefully selected, will sell successfully using the auction method. However, in the rare case that a property does not sell at the auction, we will have identified a pool of interested buyers to whom we can market the home and work with directly.
Garth’s has auction expertise, solid real estate experience and progressive leadership; in short, we are poised to make our mark on the real estate industry. Since 1954 Garth’s has been conducting dynamic and successful auctions marked by personalized customer service and unparalleled integrity. Over the past five decades, our business has evolved to become one of the nation’s leading auctioneers of art, antiques and decorative objects. Garth’s is well-known for cutting edge, first-class marketing; and for achieving top sales prices for client merchandise. We have years of experience in educating buyers, sellers and fiduciary agents on the benefits of the auction method. In a market relatively unfamiliar with the auction method, you will find our expertise invaluable.
How do I find out more?
Give us a call. Drop us an email. We would be happy to talk with you about whether the auction method is right for you or your client.
Amelia Jeffers | (740) 362.4771
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