Simply put, the auction method of marketing is the fastest and most efficient way to get the true market value of your property. What makes auctions so great, is they create a strong sense of urgency and immediacy.
There are two primary types of auctions that you may hear about
- Absolute Auction – Absolute auctions sell at the highest bid, whatever that bid may be, without being subject to a reserve or minimum price. The potential advantage of an absolute auction is that it can draw a substantially larger pool of potential bidders.
- With Reserve – Auctions, by default, are subject to reserve. Auctions that are subject to reserve may not draw the same level of interest as an absolute auction.
The appropriate type of auction depends on a number of factors and your Gray Estates’ auction professional can help advise you on the best way to take your property to market.