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Listing Your Property Verses Selling Your Property At An Auction?  
by Lana Ball

Which selling method is right for you and your property? Bottom line…you want the most dollars for your property no matter which method you use. Ball Realty Group LLC and Ball Auction & Realty Inc. are in the business of both listing and auctioning real estate. Listing your property with one of our real estate companies is always a great way to sell your property, but did you know that your property might meet the criteria for selling it at a public auction? Below are some questions that will help you determine if your property meets the criteria for an auction.

· Are you in charge of settling an estate and want to close the estate as soon as possible?
· Are there circumstances that require you to sell your property immediately (e.g. job transfer, purchase of a new home, moving, etc.)?
· Have you been approached by parties that are interested in buying your real estate?
· Are you selling a home with some acreage on it that can be easily divided into separate desirable parcels?
· Has your property been previously listed and off the market for at least one year?

If you answered “Yes” to any of the above questions, chances are your property may be a great candidate for an auction.

Older homes and real estate that have not been exposed to the open selling market generally do not know their true market value since it has not been tested for some time. An open public auction will determine that value.

Listing a home for a long extended amount of time without much success just prior to selling it at an auction, may have a negative impact on its perceived value. It is therefore a good idea to have the auction first or have extensive time pass after the listing to conduct the public auction. If the seller decides that the dollar amount that was bid for the property is not up to expectations, the seller has the right to refuse the bid and not sell the property.

Much success has also been proven in the auction method when the whole estate is divided into desirable parcels. Bidders are allowed to bid on the property as a whole, but they are also allowed to bid on individual parcels or a combination of parcels. The bidder or bidder’s with the most total dollars bid for the property, whether that is for the whole property or for individual parcels will ultimately when the bid. Therefore, everyone is a winner. The seller receives the highest possible amount for his/her property and those individuals that only wanted or could afford a certain parcel(s) were able to buy what they wanted at the dollars they wanted to spend.

Another advantage of selling your property at auction…. you sell it that day “AS IS WHERE IS”, with no inspections. No more waiting 4 to 6 months or even longer to see if anyone will buy it. It forces anyone that is interested in your property to buy it that day or live with the fact that they missed their opportunity. The excitement of the auction a lot of times will help bring out the highest market value of a property. People enjoy competition, and they hate to see something that they have desired and wanted to go to someone else.

Ball Realty Group LLC and Ball Auction & Realty Inc. are in the business of both listing and auctioning properties. We have been in the auction and real estate business for over 30 years and are qualified to help you determine which method is right for you. Our experienced auctioneers, brokers and sales agents spend many hours studying this area’s real estate market and will give you a realistic and achievable goal for your property. We understand the importance of getting your property on the market and selling it at the highest possible price in the shortest amount of time.

Call one of our offices today and talk to our qualified professionals who will assist you in getting on the most profitable selling track.