(704) 576-3478

RESULTS MATTER!

Robert S. Bottone & Robert F. McCook, Jr., Auctioneers

 

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There are several different options that an auctioneer has at their disposal to auction real estate and the most common are, absolute, reserve, minimum bid and sealed bid. No other marketing method can bring together so many potential buyers at one time in one place. You will discover that the auction process offers you one very unique advantage over other sales alternatives. Bidders must respond publicly to the auctioneer's call establishing the fairest market price on any given day, right there and then, out in the open, in front of your eyes.

 

Absolute Auction: An auction where the property is sold to the highest qualified bidder with no limiting conditions or amount. The seller may not bid personally or through an agent. Also know as an auction without reserve. This type of auction typically get the most bidding and generates more money for the seller because of the competitive nature of bidding. Competition typically heats up most intensely at absolute auctions because bidders know that by besting a rival across the room or online, the property can be theirs. For the seller, the risk associated with an absolute auction is greater than the other types of auctions, but so is the potential reward.

 

Reserve Auction: The minimum price that a seller is willing to accept for a property to be sold at auction, also known as “reserve price”. This type of auction gives sellers protection so their properties will not be sold below what they consider acceptable. However, sellers should be aware that reserve auctions typically generate the least amount of interest among potential buyers, because buyers know their winning bid can ultimately be rejected.

 

Minimum Bid Auction: An auction in which the auctioneer will accept bids at or above a disclosed price. The minimum price is always stated in the brochure and advertisements and is announced at the auctions. This type of auction offers a certain level of safety to the seller but is not usually as attractive to buyers as an absolute auction. A key strategy for a for the seller is to set the minimum bid low enough to attract the interest of buyers because setting the minimum bid too high will discourage initial bidding.

 

Sealed Bid Auction: A method of sale where by confidential bids are submitted to be opened at a predetermined place and time. Not considered a true auction in that it does not allow for reaction from the competitive marketplace.


BENEFITS OF AUCTIONING REAL ESTATE

No Maximum Sale Price

Competitive Bidding
No Passive Offers

Sold On A Specific Day
Aggressive Marketing
No Contingencies
Due Diligence Before Auction

Property Sold “As Is”

Cut Your Carrying Costs
Closing In 30-45 Days

Buyers Are Pre-Qualified
Shorter Marketing Time
Auctioned On-Site & On-Line
Proven Results

Download Forms

 

Broker Referral Registration Form


How To Represent A Buyer

 

How To Bid At A Real Estate Auction
 

 

 

 


Hiring anyone to sell your assets is a major decision and our entire staff realizes that you only have one opportunity. From start to finish, whether its placing signs on your property or preparing your advertising campaign straight through the actual auction our firm offers you many years of experience, we never take shortcuts. Our goal is to obtain the absolute highest price for you.

 

Since 1975, our Company has completed numerous successful market strategies in a variety of different marketplaces; some dynamic but often volatile. This included valuation, advertising, inspection, security, contract preparation, liaison with your attorney and township officials, catalog and brochure preparation, collection of deposits, auction proceeds and final settlement.


Remember, when comparing auction companies and auctioneers, average is not good enough.
A successful auction doesn’t just happen it is planned that way.


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Phone: 704.576.3478    Email: bob@bfsauctioneers.com
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