Property is sold at an arranged time and place, generally within 30 days.
"Time is Money." ie.: Marketing and promotion costs, cost of money and potential profits from "the next deal" cannot be reflected in the in the conventional sales price.
A professionally conducted Real Estate Auction is market driven and achieves true market value. Often prices are higher at an auction!
Sale exposure is intense and advertises a time of sale as well as the property.
Properties being sold by conventional methods cannot compete with an auction. Potential buyers of real estate in the market place are motivated to investigate the property being auctioned. Accordingly they wait until the auction is held before completing other transactions. The market is then frozen; allowing for prime auction exposure.
An auction on a specific date is definite. A sense of urgency is created: "Buy this property today, it won't be available afterwards." Auctions force action!
With conventional real estate sales, the buyer offers the price and terms. The seller only sets the guidelines, ie.: the asking price. In an auction, the seller sets out the terms including the time of sale, amount of deposit required and the closing date.
Auctions complement a firm's regular business by providing concentrated and focused exposure, while creating new sales and additional profit.