| AUCTION |
BROKERAGE
SALE |
Shorter
Sales Period. |
Sales
period can be anywhere
from
6 months to 1 yr and
can extend for the
period of the sale
contract. |
Seller
pays commission based
in services rendered,
fees are greatly reduced.
|
Real
Estate Broker charges
typical 5-10% Commissions. |
Realized
the property's true
market
value with no upside
price limitation. |
Upside
opportunity is limited!
No chance to negotiate
up - just down. |
Auction
provides the psychological
catalyst
to promote and enhance
buyers interest -
as well as sales price |
Traditional
sales method offers
no psychological or
competitive momentum. |
| Contracts
for sale of property
in as little as five
days with closings
within 60 days. |
Property
can sit on the market
for
months or even years
before it sells -
if it sells at all! |
Bidding
method and conditions
of the sale are set
in adavance of the
auction. |
Contingencies
are the most common
form of negotiating
price. |
Generally property
are sold as is. |
Offer
is contingent upon
lender approval. |
| Limits
the need to show property
to a specific timne
period. |
Sellers
must make the property
available to show
over an extended time
frame and for the
liffe of the sales
contract. |
| Auctions
create a higher interest
levels that regular
brokerage sales. |
Brokers
can limit visitors
by overqualifying
the buyers. |
Earnest
deposits are negotiated
between the seller
and the buyer at the
time of the Auction |
3%
or less deposit is
normal. |
