eal Estate Auctions have is money, and it still makes
been used to sell sense for many sellers to use
properties successfully for this method. Not to mention,
many years. Do they always work? there have been many auctions
No, but if done in the right that have received bids right at,
way, they ALWAYS attract or higher than market value.
attention. They ALWAYS make a
property stand out from other When should you use an auction?
properties on the market.
1. On any property that you
There isn’t a magic formula that are willing to take at least a
will always sell a property, 10% discount. The bigger the
except price. An auction gives discount the better chance for
you the ability to use price as a success.
way to attract buyers. However,
the majority of buyers that you 2. On any property in a hot
attract are expecting a deal. market. If you’re in a market
So, unless your property is in a where multiple offers are common
hot real estate market or is for any listed property, take
unique and highly desired, you advantage of that excitement and
need to expect to sell at a let buyers bid against each other
discount. You should expect to in an open format.
discount at least 10% and many
times more. 3. On any good investment
deal. If you have a property
If you’re considering selling by that needs to be rehabbed, income
auction, you need to realize that producing property with good cash
you will probably be giving up flow, or any other type of good
some equity for the convenience investment property. Investors
of selling fast. However, time buy based on numbers, show them
the numbers! are starting to take hold. One
of the advantages of using the
Up until a few years ago, Internet is that it doesn’t
seller’s who wanted to sell by require people to be onsite to
auction usually held a “live” bid. Bids can be placed anywhere
auction on the property. This a person has access to the
process requires hiring an Internet.
auction company and paying
hundreds and sometimes thousands It’s understandable why real
of dollars in fees regardless of estate Internet auctions are
whether the property sold or not. becoming popular. They make this
successful method of selling real
estate accessible to many more
Along came the Internet, and then sellers and investors.
Internet auctions for “stuff”.
Now Internet Real Estate auctions
About the Author:
Tom Wood is a real estate broker and auctioneer in St. Louis, MO. He owns and operates an internet auction site for real estate investors to buy and sell properties. We invite you to pick up our FREE Report on "6 Ways to Benefit from Auctions" at http://www.reiauctions.info
Read more articles by:
Tom Wood
Article Source: www.iSnare.com 
