Sell Your House with a Real Estate Auction

Are you looking to sell your home? Don't want to wait for months for an acceptable offer, and then be left wondering if you could have gotten a better one? What if I told you that you could eliminate the headaches and choose the day your property would sell and have control of the sales process without negotiating, contingencies, or unqualified "buyers"? It may sound to good to be true, but this is a new trend in the real estate marketplace today. Have a real estate auction!

With a real estate auction, you place your home for sale through a real estate agency, one that specializes in auctions. The property is then heavily marketed over a period of, typically, forty-five days. The auction is on the forty-fifth day. This allows you to choose the date of the sale and bring multiple pre-qualified buyers together at the same time, with multiple bids, forcing them to compete with each other in order to aquire your home. The process is over in several minutes, with the buyer knowing how much his rivals were willing to bid, and the seller knowing that he got the highest possible price. It is a win-win situation. Many real estate professionals view real estate auctions as the best way to determine true market value.

The National Association of Realtors estimates that in the next three years, nearly one third of all properties will be sold at auction. The concept, however, is not a new one. Europeans have for years been selling this way, with nearly half of their real estate sold at auction. The growing popularity in the United States is due in large part to the the Internet, with the majority of people doing research online before deciding to buy. And real estate auctions cater to this fact with internet advertising. Add to this the growing popularity of online auction sites, such as eBay, and auctions in general are becoming more and more commonplace.

If you are not a serious seller, and are just looking to speculate, setting a price on your property only to see if you can obtain it, or if you need a certain amount of money from the sale of your home, real estate auctions may prove to be too risky for you. But if you are simply looking for a quick sale of your home at true market value at a certain date, then having an auction may just be for you!