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Real estate auctions are the fastest growing sector of the auction industry, and they are receiving national media coverage.

However, some Realtors may be unsure about real estate auctions, seeing them as competition. In fact, a Realtor and an auctioneer can make a powerful team, providing tremendous service to clients. An auction relives many concerns for all parties involved.

• When a property is sold at auction, the terms and conditions are pre-set and non-negotiable.
• Buyers are all pre-approved.
• The property is sold "as is" with no stipulations for repairs or changes, and potential buyers are given ample time to inspect the property and make an informed decision prior to the auction.
• The sale is not contingent upon selling current property, which is common in many traditional real estate deals.
• And, there is no time spent negotiating a price. Bids are made fairly by registered bidders, and there are no discussions or conferences – no counteroffers. The final price is the final price. The property is sold to the highest bidder.

Auctions Force Buyers to Make Decisions. How many times have you had an individual or a couple show interest in purchasing a home or property from you, but they seem indecisive about it? They might ask to take a second look at the property, and follow up with some more questions a week or so later. With an auction, a decision must be made in a matter of seconds, or the opportunity is lost.

More Revenue through Competitive Bidding. With the traditional real estate sales methods, an asking price is established, and the final sales price is negotiated down from there. At an auction, the auctioneer establishes a minimum price, and the bids increase from there. During an auction, the competitor is able to hear the other bidders, and it allows him or her to make an informed decision. The competitive nature of auctions means more revenue for the seller, Realtor and auctioneer.

Enhancing Your Customer Base. Selling a property through the auction method can bring more business opportunities. Though there may be five or 20 bidders vying for the property, there is only one who wins the highest bid. This leaves the other bidders as prospective clients. Because they showed an interest in the property for sale, you already know what type of property they want and approximately how much they are willing to spend. And remember, every bidder comes to the auction with a deposit check, which means they have already secured their finances.

Earn Commissions. When you make the choice to team up with Morris Auction Group, to sell real estate you can be sure that your client will be protected. Call us today and see how we can work together to solve your clients' real estate needs.