A real estate auction is an innovative and effective method of selling real estate. It is an intense, accelerated and aggressive real estate marketing process that involves the public sale of any property – most certainly including those that are NOT distressed – through open, competitive bidding. According to the National Association of REALTORS®, under the right circumstances, auction can be the most effective way to accelerate property sales and establish a property’s true market value. The true market value settles at the level the market can bear, neither elevated nor deflated.

TYPES OF AUCTION:

RESERVE  Seller has a publicly undisclosed minimum amount – aka “the reserve price” – which s/he hopes to achieve at auction. The property will sell subject to confirmation of the seller who reserves the right to

cancel the auction sell before the auction reject the price achieved at auction counteroffer the price achieved at auction accept the price achieved at auction

ABSOLUTE  Property sells to the highest and best bidder regardless of price. Hybrids    MINIMUM BID • SEALED BID • MULTIPAR • ONLINE • FaxBid™ etc.

AUCTION ADVANTAGES:

● Spotlight on your property............... Local & online exposure via accelerated marketing program   ● Seller controls the process............ Sets dates for open houses, auction and closing.   ● Pre-qualified buyers........................ No financing contingencies! Buyers come ready to buy.   ● Creates urgency for buyers............ Buy now or lose opportunity.     ● No need to fix it up........................... Property sells “AS IS.”     ● It’s fast............................................... 4-6 weeks marketing time before auction, then closing within 30 days.     ● It’s convenient.................................. No unscheduled showings. No negotiations.   ● It’s final.............................................. No contingencies on the sale.     ● It’s fun................................................ Check it out! Attend a real estate auction as an observer. Auction means ACTION!