REAL ESTATE AUCTION VS TRADITIONAL LISTING

Side by Side Comparison

Quick Sale. Closed in 30 days or less.

AUCTION

Could be on the market for months or years.

TRADITIONAL

No limit on buyer offers.

AUCTION

Buyers' highest offer is limited by asking price.

TRADITIONAL

Property sold 'As Is' with no contingencies.

AUCTION

Properties often sell with contingencies. Contract fall through or after numerous inspections the seller is asked to make concessions, repairs, or lower their price.

TRADITIONAL

Extensive advertising on your property.

AUCTION

Minimal advertising. One of many homes on the market and often lost in the shuffle.

TRADITIONAL

Terms set by seller before auction.

AUCTION

Seller must negotiate many aspects of the sale.

TRADITIONAL

Urgency promotes buyer interest.

AUCTION

Price reduction encouraged to create buyer interest and activity.

TRADITIONAL

Price is bid upwards to realize maximum market value.

AUCTION

Upside potential limited by asking price – Price is usually negotiated down.

TRADITIONAL