Real Estate

The Seller

The real estate auction is a form of competition with inherent dynamics that cannot be duplicated by private real estate marketing. During the auction process, each bid reinforces the market value of the property which encourages continued bidding. In a traditional real estate sale, the buyer negotiates the seller down. In an auction, the buyer can win only if he outbids all other bidders. Additionally, a professionally-conducted auction eliminates potentially lengthy and costly sellout periods. It has often been demonstrated that a property that couldn't sell at any price was sold for top dollar in minutes at auction. This happens for two reasons:

• The proceedings at an auction are led by your seasoned professionals at Vogel Auctions
• The property is effectively promoted and exposed to a multitude of interested buyers by our advertising team at Vogel Auctions.

The Benefits to the Seller:

• Buyers come prepared to buy
• Quick disposal reduces long-term carrying costs, including taxes & maintenance
• Assurance that property will be sold at true market value
• Exposes the property to a large number of pre-qualified prospects
• Accelerates the sale
• Creates competition among buyers - auction price can exceed the price of a negotiated sale
• Requires potential buyers to pre-qualify for financing
• The seller knows exactly when the property will sell
• Eliminates numerous and unscheduled showings
• Takes the seller out of the negotiation process
• Ensures an aggressive marketing program that increases interest and visibility

The Buyer

The real estate auction is a form of competition with inherent dynamics that cannot be duplicated by private real estate marketing. During the auction process, each bid reinforces the market value of the property which encourages continued bidding. In an auction, the buyer can win only if he outbids all other bidders. Buyers can rest assured that the proceedings at an auction are led by your seasoned professionals at Vogel Auctions.

Benefits to the Buyer:

• Smart investments are made as properties are usually purchased at fair market value through competitive bidding
• The buyer knows the seller is committed to sell
• In multi-property auctions the buyer sees many offerings in the same place at the same time
• Buyers determine the purchase price
• Auctions eliminate long negotiation periods
• Auctions reduce time to purchase property
• Purchasing and closing dates are known
• Buyers know they are competing fairly and on the same terms as all other buyers
• Buyers receive comprehensive information on property via due diligence packet