Sally's Key West

About Auctions

Auction: the process of selling a thing by offering it up for bid, taking bids, then selling to the highest bidder.

Why an auction?

• Sell your property in 30 days for market price
• NO real estate commission
• Buyers qualified BEFORE bidding
• Limited showings
• Close in 60 days from start to finish

An auction quickly determines the value of a property that has an undetermined or negotiable price. In fact, all real estate is sold at auction.

A traditional real estate sale, whether by broker or owner, is conducted as a “Dutch auction” where the offering starts at the seller’s price, and buyers bid it down to market price.  Sometimes those two figures are the same, more often not, particularly in a saturated market.

The frustration with a Dutch auction is the time frame. It is unlimited – the auction lasts until the seller accepts a bid. In a market overburdened with high-priced properties, this can take many weeks, months, sometimes years.

FAQs

What is an auction again?
AUCTION: the process of selling a thing by offering it up for bid, taking bids, then selling to the highest bidder. An auction quickly determines the value of a property that has an undetermined or negotiable price.

Won’t I sell my property for less at auction than I would get from a traditional sale?
In a sluggish market, it’s likely you will net more by selling at auction. All markets move in cycles and timing is everything. As a seller of property, you want to gather facts, see where you are in the cycle and make the timing work for you.

I see licensed auctioneers are called “Colonel” - what's that all about?
Licensed auctioneers are trained in the legal and practical aspects of conducting auctions. Auctioneers who have completed Auctioneer School commonly use the title Colonel and are given this honorary title because in the U.S. Civil War, Colonels of armies were called upon to auction off the spoils of war.

How do I find out more?
To find out if an auction will work for you, give us a call. Tell us your questions and concerns, we'll see if an auction is a match for you.

P.S. If you are a REALTOR® or a seller wanting to run your own auction, excellent! Please see our Auction Consulting Services and give us a call.

Auction Consulting

If you’re a DIY’er and the auction process intrigues you, we can help. Whether you are a REALTOR® conducting an auction for a customer, or you are the seller, we can coach you thru your auction! While it is a complicated process, it’s also big fun, way more exciting than traditional real estate sales and it gets the job done in your time frame. Plus, if you are the seller, you will save thousands in real estate commission.

You’ll have access to all of our paperwork. We give direction on advertising, signage, how to prepare your house for sale. You’ll learn how to talk to prospects on the phone, how to conduct the open houses. We’ll put together your Prospect Package and give unlimited telephone support (this is all you’ll need – truly) throughout the process (and on our dime, if long distance.)

If you do everything the way we tell you to do it, we guarantee you will have an offer for market price signed by your high bidder at the end of the auction.

If you want one of us there, you will incur additional travel expenses. Fine with us, but REALLY not necessary. You can do this. (We can help.)

How do I find out more?
Your first step is to answer the question: Is an auction right for me right now? This is the most important part of the equation and we offer this counseling FREE with no further obligation. Give us a call, let’s explore the possibilities!

A note regarding the paperwork: We are not attorneys and cannot write contracts for a deal to which we are not a party. We will share all our paperwork with you, but you must have your attorney ok it before using it. A simple process, but one not to be missed!