Why
Auction?
Real estate has been sold at auctions since ancient times.
According to ancient Greek scribes, the normally accepted auction
method occurred first in Babylon in 500 B.C.
Today's auctions account for one of the greatest mounting
segments of real estate sales. Statistics show that real estate
auctions are more profitable. In some countries, like Australia and
New Zealand, more than 50% of all real estate is sold at auctions.
In North America over 90 billion dollars worth of real estate was
sold at auctions last year and the popularity of the auction method
is increasing rapidly.
Until a few years ago, sellers who wanted to sell their property
by auction usually held a Live Auction on the property. This manner
involves hiring an auction company and paying thousands of dollars
in fees regardless of whether the property is sold or not.
Now, the auction is progressing into another stage, the ONLINE
auction stage.
The online auction is the perfect method for selling real estate.
It simplifies the sales process. Unlike live auctions that last for
a few minutes, the online auction can run for days letting more
buyers participate.
A successful online auction still requires planning, marketing,
and the holding of Open Houses. One of the principal benefits is
that buyers do not all have to be at one place at one time to bid.
They can bid from wherever they have Internet access. The Online
Auctions offer a great freedom, and a great opportunity. They work
because the free market works. The free market will always drive the
price to the highest possible level.
Why
NonBinding Auction Method?