September 29, 2011
Welcome to my first installment of ?Selling Real Estate at Public Auction?. In this blog I will stay on top of the issues related to real estate auctions. This will hopefully be informative and sometimes entertaining.
I am Duane McClain, I have had the opportunity to be the auctioneer for over 75 real estate auctions in the last 7 years of my real estate sales career. I have said ?sold? over $40,000,000 worth of real estate. I am not the ?know it all? expert, but I do have the ability with Lashley Land to give you some of the best advice when it comes to selling at auction. Enough about me?.
Have you considered selling your real estate at public auction? Currently it may be the best way to get the top dollar for your property. For instance, on today?s trend of ever increasing values for cropland and ranches it can be tricky to put the right listing price on a prime pivot irrigated quarter. Pricing it to high can give Buyer?s the impression you really don?t want to sell and to cheap does not work for you or the real estate Broker.
What do I see with real estate auctions; the Buyers are out there. They are familiar with the process and ready and willing to buy on their own market and most of the time their market is determined by the competition?s desire to also own the property. Competitive bidding is how the Seller gets the most out of the sale of their property at auction. The current challenge is making a Seller feel comfortable about the auction process of marketing their real estate.
Over time I will address the different auction types, what makes a property good for auction and when is the best time to offer the property. I look forward to this opportunity to keep you informed on this topic.
duane@lashleyland.com
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