Auctions have been gaining popularity in recent years as an alternative to traditional real estate sales. Biederman Real Estate and Auctioneers in Lexington, Kentucky is a company that has been at the forefront of auctions for more than 30 years. However, many people still don’t understand the benefits of auctions, and they assume that auctions should be their last option when they fail to sell their property using conventional methods. This article aims to show you why auctions with Biederman Real Estate should be your first option when you need to sell your property.
Maximizing the Price
An auction is an accelerated method of marketing that creates competition among buyers and motivates them to bid higher. The best feature of the auction method is that it allows buyers to determine the price of the property, not the seller. Biederman Real Estate understands this, and they use their time-tested methods to create a competitive auction environment with the goal of obtaining the highest sale price possible for their sellers.
At an auction, the competitive bidding process can help to uncover the true market value of a property. This value may be more than the seller’s initial expectations. As a result, a property that might have been sitting in the market for months without a good offer could achieve a much higher price at an auction.
An Efficient Marketing Campaign
When a seller chooses to sell their property traditionally, they have to rely on the real estate agents to create a marketing campaign to find potential buyers. The process may take longer, and the level of interest in the property may not be as high. However, when a seller chooses to sell the property via auction, they can expect an efficient marketing campaign that is designed to promote the property to potential buyers.
Biederman Real Estate’s marketing campaigns are customized for each property. Their marketing strategy includes print media, online advertising, and sometimes direct mail campaigns. Additionally, they offer a robust database of targeted buyers who have expressed interest in purchasing properties similar to what their sellers are offering.
The marketing campaign Biederman Real Estate runs for an auction would, in most cases, take longer for a traditional real estate seller to match. This is particularly true if the property in question is unique, with specific features that appeal to a narrow audience.
Focus on Qualified Buyers
Auctioneers like Biederman Real Estate understand that not all potential buyers have the necessary resources to complete a purchase. As a result, they focus their marketing efforts on qualified buyers who have funds in place to buy the properties being offered. The benefit of this focus is that it narrows down the pool of buyers to the ones who have a genuine interest in making a purchase.
Qualified buyers offer a lower risk of deal fallout, which is great for the seller. A bidder may be required to put down a deposit as a sign of commitment to the purchase. As such, the seller will have a greater level of confidence that the sale will go through once a deal is made at an auction.
Time-Frame for Sale
Time is money, and that is especially true when it comes to selling your real estate. Traditional sales methods like private sales can take months, sometimes more than a year to close a sale. In contrast, auctions at Biederman Real Estate last an average of six to eight weeks, from the time the marketing campaign starts to the day of the auction.
Auction campaigns with Biederman Real Estate are designed to put a sense of urgency on potential buyers. They typically require registered bidders to have completed their due diligence and have their finances in order before the day of the auction. This simplifies the sales process, saves time, and reduces the stress that traditional sales methods may impose on the seller.
The Transparency of the Sale
The auction process is open, transparent, and fair. On the day of the auction, all registered bidders can openly see their competitors and outbid them if they so choose. This transparency ensures that the seller gets the best price for the property without any hidden backroom deals or negotiations.
Any bidder who offers the highest bid for a property at an auction will be the successful buyer. This level of transparency gives buyers great confidence in the process and motivates them to bid higher to secure the property. It also helps the seller to avoid the risk of deal fallouts or people backing out of the sale process.
Final Thoughts
Auctions have long been a popular choice for buying and selling artwork, collectibles, and other assets. It’s not surprising, therefore, that more and more people are choosing to sell property via an auction. And, with Biederman Real Estate and Auctioneers, you have the assurance that you’ll get the best price for your property.
The benefits of selling your property through an auction with Biederman Real Estate are many and include a faster sale, an efficient marketing campaign, a focus on qualified buyers, and a transparent sales process. By using these strategies along with their network of qualified professionals, Biederman Real Estate delivers successful auctions consistently.
In conclusion, when you’re thinking of selling your property, you should know that the traditional sales method of private sales is not your only option. In fact, selling through an auction campaign with Biederman Real Estate could be the best way for you to get the most value from your property. As you prepare to sell your property, consider why auctions with Biederman Real Estate and Auctioneers should be your first option, not your last.