What is the "Art of the Auction"?

The Art of the Auction is the process by which property is sold quickly and efficiently to competitive bidders through an open and competitive bidding process. Also known as the auction method of marketing, this process eliminates the normal costs and aggravation that sellers incur when trying to sell their property through the more common negotiated method of sale.

Why is an auction so efficient?

An auction is an event whereby property is placed for sale in front of multiple buyers who then engage in a competitive bidding process until the highest bid is achieved. Through an auction, the seller is in control and establishes terms of the sale including the date, time and place of the sale.

Open and Transparent Auction Sale:

This is an efficient method of sale because buyers gather at one location during a specified time to place their bids. Regardless of whether the auction “location” is an online bidding platform, in person or both, once bidding starts, buyers will compete to purchase your property. Studies have shown that buyers feel comfortable in competitive bidding situations. When buyers are among other legitimate bidders, they feel that the valuation of the property is confirmed by the other bidders involved in the auction. Each bid is an economic signal that tells other buyers that there is a purchaser who is ready, willing and able to pay that certain price for the property.

In this sense, a seller can be assured that in the context of the place and time of the auction, he or she received the greatest and best market price for the property. Likewise, a purchaser can be assured that in the same context, he or she paid the fairest market price for the property.

Quick Closing Process:

After the auction concludes and the highest bidder is determined, the next phase of the transaction is the closing process. Our team will handle all of the logistics associated with the closing process and inform you every step of the way.