THE AUCTION ADVANTAGE

KEVIN HOWELL COMMERCIAL ASSOCIATE & CERTIFIED AUCTIONEER J.P. WEIGAND & SONS

When it comes to selling commercial or residential property, auctions can be a great way to move a property quickly and efficiently. An auction is an accelerated method of sale that draws many potential buyers, generates competition, and increases the likelihood of getting the best price for your property. Before deciding whether an auction is the right choice for you, there are some signs that indicate you should consider doing an auction.

Quick Sale

The first sign is if you want to sell quickly. Auctions greatly expedite property sales due to their competitive nature; often buyers are willing to bid more than they may have with other methods of sale to secure the property. If speed is your main goal, then an auction may be the best way to go about it.

Maximum Market Exposure

A second sign is if you’re looking for maximum market exposure. During auctions, properties often receive attention from national, regional, and local markets; this allows more buyers to participate in the bidding process and can draw top dollar for your property. With traditional sales methods, you miss out on reaching potential buyers who are outside of your immediate area; with an auction, however, anyone may potentially take part in the bidding regardless of their location.

Multiple Properties

Another indication that an auction might be right for your situation is if you have multiple properties or large parcels of land that could benefit from a collective sale. Auctions allow you to “package” multiple items into one lot and draw more interest than each individual item would receive through traditional means; this could also generate higher bids from investors with specific interests in certain types of properties or geographic areas. Additionally, when multiple properties are being sold at once during an auction, it reduces paperwork and administrative costs associated with separate purchases over time; this gives sellers greater returns on investment when done properly.

“STALE” LISTING

Finally, you should consider doing an auction for commercial or residential properties if the listing has been on market for too long without any real buyer interest or offers coming through – sometimes called “stale” listings by real estate agents – as this could signal potential problems such as title defects or overpricing issues that need addressing before any type of sale takes place. An auction provides fresh energy and excitement around sales while allowing more flexibility with terms regarding inspections and financing which can help bring out buyers otherwise hesitant due to those concerns.

In conclusion, there are numerous indications that point toward doing an auction when selling commercial or residential properties such as needing a quick sale, wanting maximum market exposure for your listing(s), having multiple units/parcels available together rather than individually listed, or having stale inventory from longerthan-usual marketing periods without substantial offers coming through regularly. If even one of these conditions applies to you then it might be worth considering giving auctions a chance as they offer considerable advantages over traditional selling methods while helping to get the most value out of what’s being sold quickly and effectively.

With decades of experience in helping sellers and buyers reach their goals, J.P. Weigand & Sons, Inc. has the tools to create a successful sales strategy to help ensure maximum exposure and deliver the highest bidding prices available.