About Auctions
AUCTION: the process of selling a thing by offering it up for bid, taking bids, then selling to the highest bidder.
Why an auction?
A traditional real estate sale, whether by broker or owner, is conducted as a “Dutch auction” where the offering starts at the seller’s price, and buyers bid it down to market price. Sometimes those two figures are the same, more often not, particularly in a saturated market.
The frustration with a Dutch auction is the time frame. It is unlimited – the auction lasts until the seller accepts a bid. In a market overburdened with high-priced properties, this can take many weeks, months, sometimes years.
FAQs
What is an auction again?
AUCTION: the process of selling a thing by offering it up for bid, taking bids, then selling to the highest bidder. An auction quickly determines the value of a property that has an undetermined or negotiable price.
Won’t I sell my property for less at auction than I would get from a traditional sale?
In a sluggish market, it’s likely you will net more by selling at auction. All markets move in cycles and timing is everything. As a seller of property, you want to gather facts, see where you are in the cycle and make the timing work for you.
What’s the “Colonel” title all about?
Licensed auctioneers are trained in the legal and practical aspects of conducting auctions. Auctioneers who have completed Auctioneer School commonly use the title Colonel and are given this honorary title because in the U.S. Civil War, Colonels of armies were called upon to auction off the spoils of war.
How do I find out more?
To find out if an auction will work for you (and they don’t work for everyone!), give us a call or email us anytime. Let us know your questions and concerns. We look forward to hearing from you.
Colonel Hal O’Boyle
P.S. If you are a Realtor or a Seller wanting to run your own auction, please see our Auction Consulting Services page and give us a call.
Why an auction?
- Sell your property in 30 days for market price
- NO real estate commission
- Buyers qualified BEFORE bidding
- Limited showings
- Close in 60 days from start to finish
A traditional real estate sale, whether by broker or owner, is conducted as a “Dutch auction” where the offering starts at the seller’s price, and buyers bid it down to market price. Sometimes those two figures are the same, more often not, particularly in a saturated market.
The frustration with a Dutch auction is the time frame. It is unlimited – the auction lasts until the seller accepts a bid. In a market overburdened with high-priced properties, this can take many weeks, months, sometimes years.
FAQs
What is an auction again?
AUCTION: the process of selling a thing by offering it up for bid, taking bids, then selling to the highest bidder. An auction quickly determines the value of a property that has an undetermined or negotiable price.
Won’t I sell my property for less at auction than I would get from a traditional sale?
In a sluggish market, it’s likely you will net more by selling at auction. All markets move in cycles and timing is everything. As a seller of property, you want to gather facts, see where you are in the cycle and make the timing work for you.
What’s the “Colonel” title all about?
Licensed auctioneers are trained in the legal and practical aspects of conducting auctions. Auctioneers who have completed Auctioneer School commonly use the title Colonel and are given this honorary title because in the U.S. Civil War, Colonels of armies were called upon to auction off the spoils of war.
How do I find out more?
To find out if an auction will work for you (and they don’t work for everyone!), give us a call or email us anytime. Let us know your questions and concerns. We look forward to hearing from you.
Colonel Hal O’Boyle
P.S. If you are a Realtor or a Seller wanting to run your own auction, please see our Auction Consulting Services page and give us a call.
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