Benefits of Using the Auction Method Benefits to the Seller: Serious Buyers:  Buyers come prepared to buy Minimize Carrying Costs:  Quick disposal reduces long-term carrying costs, including taxes & maintenance True Market Value:  Assurance that property will be sold at true market value Accelerated Sale:  Defined day/time of sale making it quick and efficient Competitive Bidding:  Brings interested buyers together to negotiate the purchase Specified Day of Sale:  The seller knows exactly when the property will sell Good Timing:  Auctions are always good timing, in strong or struggling economic seasons Scheduled Previews:  Auction Previews eliminate numerous, unscheduled showings No Negotiations:  Takes the seller out of the negotiation process Aggressive Marketing:  Ensures a marketing program that increases interest and visibility Simple Closing:  No contingencies provide for easier closings Benefits to the Buyer: Speed of the Process:  Auctions are quick and efficient, not a waste of your time Set Your Price:  Buy property at YOUR price Opportunity:  There is always the potential of getting a great deal at an auction Dates are Known:  The auction date and closing date a clearly laid out Excitement:  Auctions are entertaining and fun Honesty in the Transaction:  You can inspect what you are buying and bidding is fair and open Benefits to the Realtor®: Qualified Buyers List:  Generates a list of ready , qualified buyers New Options:  Offers clients new options for selling property(ies) Increase Revenue:  Another option means more sales Market Niche:  Develop a niche in the market Market Value:  Property is sold at market value on the day of sale Exposure:  Numerous potential purchasers are exposed to the property Increased Contacts:  Increased traffic boosts your exposure to potential clients Multiple Commissions:  Earn commission as referring agent/broker and buyer agent/broker