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Auctions

Auctions

“Auctioning generates tremendous excitement in buyers, while giving sellers greater control.”


Sold on auctions

An auction brings together qualified buyers ready to compete for your property, on the day you want it sold. That’s why a growing number of savvy sellers are seeing the wisdom of choosing this alternative. Instead of the usual approach that requires numerous showings and lengthy negotiations, an auction concentrates marketing efforts to a single point in time. By ensuring fast results, an auction allows sellers to reduce carrying costs, while assuring that the property will realize true market value.
With all their advantages, auctions are now as popular for selling luxury and conventional homes as they are for disposing of distressed properties. With Millennials accustomed to instant results, as well as to bidding for purchases great and small, auctions are forecasted to be an important segment of the real estate business for years to come.

The Link Advantage

The key to a successful auction is marketing. As a national marketing firm—not part of a national real estate company—we know how to optimize marketing efforts and dollars to provide you with the best results. In addition to maximizing visibility of your property through targeted advertising placement in print, online and social media, we create impactful marketing materials designed to peak the interest of the greatest number of potential buyers. We also generate comprehensive due diligence packages that provide buyers with all the relevant facts they need to make informed decisions.

Seller Benefits

Because auctions can save sellers considerable time and money, they offer many potential advantages:

  • Reduce costs—Auctions largely shift costs from sellers to buyers.
  • Accelerates a sale. Property is sold promptly, exactly when you want it.
  • Eliminates numerous showings. No need to prepare a property for one showing—your property is exposed to numerous pre-qualified buyers, all at once.
  • Ends negotiation stress. With an auction, multiple buyers negotiate the sale of your property—not you.
    Who pays the commission at an auction?
  • Buyers pay the commission—not the seller. The winning bidder at an auction pays a 10% buyer’s premium, while the seller pays nothing in commissions.

Auction puts sellers in control:

  • You can set reserve price or minimum bid.
  • You decide whether to accept or reject high bids.
  • You set the terms. No contingencies.


FAQ

Q. Are auctions better in some markets?

Real estate markets are constantly in flux, but an auction “freezes” that market to help sellers catch a hot market while it lasts, or beat a declining market before it’s too late.

Q. What type of properties are appropriate for an auction?

A. Though an auction might be utilized to sell virtually any property quickly, they’re an ideal solution for any property that is difficult to accurately value—luxury homes, commercial or industrial property, investment properties in need of work, distressed properties, as well as those with features or characteristics that do not “fit the mold.”

Q. What expenses does a seller incur?

A. While many auction companies require a seller to invest 2% of the estimated asking price up front to cover marketing expenses, The Link Agency partners with a leading auctioneer that requires just 1% up front to cover these expenses. When compared to the usual 5% to 6% commission rates of a typical sales, the savings are significant.

Q. How will I know buyers are qualified?

A. Prior to bidding, all potential buyers are required to be pre-qualified.

Q. How does an auction work?

A. You sign an auction listing agreement with The Link Agency and our auctioneer, in which you may set the terms, establish a reserve, as well as determine the date and time of the auction. The Link Agency will take care of all the details from there, including handling all necessary marketing and other arrangements that need to be made for a successful auction.

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