WHEN ARE AUCTIONS A GOOD IDEA?

By
October 07, 2021

How do you know when it makes more sense to sell your property via auction?

WHEN ARE AUCTIONS A GOOD IDEA?

 

Written By:  Robert Gash, Broker Owner, United Country Real Estate Western Land & Lifestyle Properties

 

How do you know when it makes more sense to sell your property via auction? Let's take a look at some scenarios that illustrate the benefits of an auction.

 

Using a Real Estate Auction to Sell Your Property

The word auction brings to mind a variety of images to people. Many associate the term with selling things cheap or out of desperation. While that may be the case in some circumstances, auctions move many of the world's finest, most expensive items like art, classic automobiles, racehorses, and even real estate. 


When a seller wants to include personal property in a real property transaction, an auction can help them sell everything at once. Think estate sales, construction and farm equipment, restaurant and office equipment, etc.
 


As one of the world's largest auction companies, United Country Real Estate offers sellers a new world of possibilities for selling unique and time-sensitive properties. So, how do you know when it makes more sense to sell your property via auction? Let's take a look at some scenarios that illustrate the benefits of a real estate auction.


Selling More than Just Property

Say you're selling a farm in Western Colorado. A traditional farm and ranch broker can probably handle the sale of the real estate, but what about the equipment? Many farms have tens or hundreds of thousands of dollars of equipment to sell after the real estate transaction.


However, you don't need hundreds of pieces of equipment to condone an auction sale. Online auctions allow us to list a single item online and take bids up to the end of the auction cycle. This process allows the seller a chance to market their piece of equipment to a national database of bidders and ensure it gets sold for a good market value.


United Country Real Estate is a one-stop-shop for real estate and equipment sales. In this case, it makes the most sense to hire a United Country Real Estate Broker to sell your property and an auctioneer to sell the farm equipment.


Streamlining a Time-Sensitive Sale

Auctions also assist with time-sensitive real estate sales. Perhaps you're starting a job in your new town and must sell your property by a specific date. If you list your property using the traditional method, there's no way to guarantee that you will get a solid offer by a certain day.


With an auction, however, you can choose the day that the sale occurs. Rather than hoping that you get a lot of property showings and offers, a real estate auction brings
 all interested buyers together on the day of the sale. 


Providing a Backup Option for Traditional Real Estate Listings

When you list your property for sale with a company like United Country, you can use an auction as a backup option if your property doesn't sell on time. Most United Country Real Estate brokers include an auction deadline in the listing contract to give sellers more security. 


Thinking About Having an Auction?

If you're selling a unique property, need to sell equipment too, or are working against a tight sales deadline, a real estate auction with United Country might be a better option. To learn more about the benefits of a real estate auction or auctioning your property in Western Colorado, give me a call at 970-986-2955.

 

Read Colorado Country Broker, Robert Gash’s full blog at:  https://www.wesellthewest.com/arti