They are a win-win for buyers AND sellers! Sellers enjoy the efficient 90-day sales cycle that attracts only serious, qualified bidders, saving potentially thousands of dollars in carrying, marketing, and management costs. Buyers win because the savings realized by the seller is shared in the form of competitive auction prices.
IS AN ALBERT BURNEY AUCTION RIGHT FOR YOU?
Auctions are the best alternative sales approach for properties which are not easy to value or where a broad geographical marketing program is required. Perhaps your property:
- Is unique in style or location (maybe a vineyard? Or exclusive beach resort?)
- Has limited comparable sales to accurately appraise market value
- Has high carrying costs
- Has a likely buyer, but seller desires a competitive auction to confirm the value and wants to control the terms of sale
- Needs to be sold during a volatile market, where yesterday’s sales don’t translate into today’s market value
Auctions give sellers control. YOU determine the sale date, property showings, any contingencies, and other terms of sale.
ADVANTAGES FOR BUYING AT AUCTION
- Buyers set the price!
- Buyers know that the seller is seriously committed to sell.
- Competing buyers are treated fairly and equally.
- Auctions eliminate long negotiation periods.
- Buyers at an Albert Burney auction know that they are only competing against other buyers – the seller is NOT bidding.
ADVANTAGES FOR SELLING AT AUCTION
- Sellers control the entire sales process!
- 90-day sales cycle permits seller’s capital investment to be freed up faster.
- Shorter sales period and set terms motivate the market to act.
- A structured sale reduces risk and maximizes value. Buyers must present required funds to participate in bidding. An experienced auction team will recognize the best way to position your property on auction day. Plus auctions allow flexibility to negotiate terms during the actual bidding to achieve the highest bid.
- Properly conducted auctions increase the likelihood of closing to almost 100%.
- Auctions focus the market’s attention on your property.
- Competitive nature of auctions can drive the property’s price to its highest potential.
- Auctions allow for customized and creative marketing strategies.
- Properties can be staged for showing at their very best and then shown on a planned schedule adding an extra measure of convenience for the seller.