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    Many real estate agents limit their marketing to a very local area because of marketing cost

    Real estate agents usually have limited mailing lists

    Commissions tend to be high, 6% or more

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    More than $40 billion worth of real estate was sold at auction during 2005. Selling your property at auction can be a great way of selling your home.

    If you are trying to sell your home maybe you should consider selling through an auction.

    I've done some research and have discovered many positive reasons why you should consider it.

    By auctioning your home:

    You will have immediate exchange of contacts of those interested in your property

    Cash purchase / funding is in place – usually a minimum 10% deposit paid at Auction

    Not subject to a contract with an agent

    Best price achieved through competitive bidding, just like eBay

    Market exposure - many auctions attract 100's of potential buyers

    Fixed completion date, a large deposit is required up front

    Quick sale - without compromising sale price or agreements

    Auctioneers tend to spend heavily on traditional and on-line marketing

    Auctioneers tend to have databases that often contain 1,000s of potential buyers

    Compare it to the traditional sell by "market"

    Sale is often subject to survey and mortgage approval

    Single bidder will determine the final sale price

    No guarantee that the property has been exposed to the whole market

    Seller is locked into a marketing period that may not lead to a sale

    Statistics show that 30% of private treaty sales fail to complete

    Many real estate agents limit their marketing to a very local area because of marketing cost

    Real estate agents usually have limited mailing lists

    Commissions tend to be high, 6% or more

    You are subject to a contract with an agent, even if not happy with the agent’s performance

    No

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    By auctioning your home:

    You will have immediate exchange of contacts of those interested in your property

    Cash purchase / funding is in place – usually a minimum 10% deposit paid at Auction

    Not subject to a contract with an agent

    Best price achieved through competitive bidding, just like eBay

    Market exposure - many auctions attract 100's of potential buyers

    Fixed completion date, a large deposit is required up front

    Quick sale - without compromising sale price or agreements

    Auctioneers tend to spend heavily on traditional and on-line marketing

    Auctioneers tend to have databases that often contain 1,000s of potential buyers

    Compare it to the traditional sell by "market"

    Sale is often subject to survey and mortgage approval

    Single bidder will determine the final sale price

    No guarantee that the property has been exposed to the whole market

    Seller is locked into a marketing period that may not lead to a sale

    Statistics show that 30% of private treaty sales fail to complete

    Many real estate agents limit their marketing to a very local area because of marketing cost

    Real estate agents usually have limited mailing lists

    Commissions tend to be high, 6% or more

    You are subject to a contract with an agent, even if not happy with the agent’s performance

    N

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    many auctions attract 100's of potential buyers

    Fixed completion date, a large deposit is required up front

    Quick sale - without compromising sale price or agreements

    Auctioneers tend to spend heavily on traditional and on-line marketing

    Auctioneers tend to have databases that often contain 1,000s of potential buyers

    Compare it to the traditional sell by "market"

    Sale is often subject to survey and mortgage approval

    Single bidder will determine the final sale price

    No guarantee that the property has been exposed to the whole market

    Seller is locked into a marketing period that may not lead to a sale

    Statistics show that 30% of private treaty sales fail to complete

    Many real estate agents limit their marketing to a very local area because of marketing cost

    Real estate agents usually have limited mailing lists

    Commissions tend to be high, 6% or more

    You are subject to a contract with an agent, even if not happy with the agent’s performance

    N

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    b>Compare it to the traditional sell by "market"

    Sale is often subject to survey and mortgage approval

    Single bidder will determine the final sale price

    No guarantee that the property has been exposed to the whole market

    Seller is locked into a marketing period that may not lead to a sale

    Statistics show that 30% of private treaty sales fail to complete

    Many real estate agents limit their marketing to a very local area because of marketing cost

    Real estate agents usually have limited mailing lists

    Commissions tend to be high, 6% or more

    You are subject to a contract with an agent, even if not happy with the agent’s performance

    N

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    private treaty sales fail to complete

    Many real estate agents limit their marketing to a very local area because of marketing cost

    Real estate agents usually have limited mailing lists

    Commissions tend to be high, 6% or more

    You are subject to a contract with an agent, even if not happy with the agent’s performance

    Now compare it to "sell by owner"

    As seller you may not be familiar with real estate laws

    No one to represent you, unless you hire an attorney

    Seller must spend a fair amount of money on marketing

    No multiple listing marketing, unless you buy in

    You must always be available to show your property

    Auctions are best if you want to sell your home and most of its contents fast. The downside is that once the auction has begun you can’t stop it, unlike traditional selling where you can refuse an offer.

    Whatever you decide make sure you do your homwork and consider all options. Good luck.

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