For Sale by Public Auction
June 8th, 2015 by Geoff Baldwin
The main benefit of a public auction is that a time limit is placed on the negotiations and the resultant sale to the highest bidder is unconditional under the terms you have set. A minimum reserve price is your protection that the auctioneer will not sell the property too cheaply.
A public auction focuses an enormous amount of purchaser attention on your property and although sales are not always made on the day, a sale will usually result soon after to a purchaser who was introduced to the property by the advanced level of high quality and intensity marketing.
If your property has unique or individual benefits, is of unusual design, possesses characteristics which set it apart from others, or will appeal to neighbouring owners, then you should seriously consider a sale by public auction.
Your local RE/MAX agent can advise you whether or not your property is suitable for auction or whether one of our other RE/MAX marketing strategies would be more suitable.