A LITTLE ABOUT AUCTIONS (and why you should use them)…
We at Fowler Auctioneers, Inc. are very proud to be able to offer our auction services, simply because we know that with our experience, technology, marketing and advertising, attention to detail, and expertise, there simply is no better method of selling virtually anything!
We’ve all seen the ads in the newspaper announcing “ESTATE AUCTION.” Well, auctioning is not just about estates anymore. It is, simply put, the most effective way to get the highest sale price on: real estate of any kind, business liquidations, equipment sales, antiques, vehicles, and yes, estates
Keep in mind that with other selling methods, the buyers are in control of the process, starting with an asking price, negotiating down, and with no time pressure to close the deal. With almost every other method, competition exists only between sellers.
Auctioning is the exact opposite; competition exists between buyers. After the opening bid, negotiations only go up; buyers know that they have only a limited time to make their purchase. Bidders are caught up in the rush of a timed auction, and competitive bidding drives selling prices higher and higher.
A note for those who remain skeptical on the auction process…
Take a look at the standard that’s already been set.
Kenny Rogers Lake House Athens, GA; Sold at public Auction for $2.25 Million
BJ Ranch Sold by Fowler Auctioneers $1 Million
Remember: These are only two examples of properties sold at public auction. And how did their owners choose to sell them? Classified advertising? A Real Estate listing, perhaps? Yard sale? Well, of course not.
The surprising thing most people neglect when thinking about the selling power of auctions, however, is that each and every one of these items and hundreds of thousands more were trusted to nothing more than auctions. Why? The answer is amazingly simple: properly marketed auctions always bring the highest possible sale price at the given time. Those lucky few who have owned some items like these know this simple truth and always trust it.
A successful Fowler Auction doesn’t happen by chance; it’s a well-planned, meticulously coordinated, well-oiled machine. From the initial consultation to our in-house advertising and right down to the day of the auction, you can rest easy knowing that we are committed to making sure that your auction will run as smoothly and efficiently as possible.
There are two basic approaches to selling your property at auction:
In an absolute auction, the seller agrees to sell the property regardless of the price. Generally, absolute auctions tend to bring much larger crowds of buyers who have already researched the properties for sale, which gives the seller a definite edge. Also, bidders have the knowledge that the property will be sold no matter what, which leaves the highest bidder position infinitely open in the mind of potential buyers. This makes for more fast-paced, intense bidding which in turn tends to drive selling prices to their highest available amount at that time.
Reserve auctions, though not as intense as absolute auctions, provide a safety ledge for sellers. This is due to a reserve amount the seller requires to be met in bidding. Even though this type of auction is generally not quite as popular, if it is properly done with a realistic minimum set, it does share many benefits with absolute auctions: both types always bring the highest available sale price at the time and the buyers are competing with each other instead of sellers, constantly driving the sale price higher and higher.
Benefits of an Absolute Auction
- Absolute auction tells the public that the property will sell regardless of price.
- Brings serious buyers who know the property will be sold right then and there and have already done their homework concerning the property for sale.
- Buyers compete more urgently while constantly raising the sale price • Allows you to be confident of selling at the highest price available at that time.
- When selling your real estate, from the time you choose to have a Fowler Auction, your real estate can be SOLD in eight to ten weeks, or by whatever schedule you choose.
If you have questions about which type of auction might be best for you, feel free to call the friendly staff at Fowler Auctioneers, Inc. at 870-356-4848 and let us answer your questions, or you can go to our contact page, fill out the simple, confidential form, and we’ll respond as quickly as possible.
