Let Tranzon sell your property the easy, no hassle way...
at Auction!

Interested in selling real estate at auction? Prepare yourself for an efficient and satisfying experience. You may find these answers helpful – if you need more information, please Contact Us.

Q: What are the advantages of selling real estate at auction? 
A: When you sell real estate at auction, you, the seller, dictate the terms of the sale. This is contrasted by traditional brokerage where the buyer dictates the terms. Here are some advantages:

1. You sell your property on your time schedule, not the buyer's. Auction marketing of real estate generally requires 4 to 6 weeks. So 4 to 6 weeks after you sign your Auction Listing Agreement, you will have your auction. Closing is then within 30 to 45 days of the auction. So you can plan your future more effectively and confidently and the relatively quick process will reduce your holding costs.
2. Real estate auction sales are generally "as-is, where-is". So no more "nickel and dime-ing"because an inspector found something wrong with the house and no more disputes over condition of systems or other issues. The buyer purchases the property as they see it and as it is.
3. Real estate auction contracts generally have no financing contingencies. So you have far greater certainty of closing on an auction purchase contract than a conventional contract.
4. At auction, you sell your property at the highest bid acceptable to you. You do not have to evaluate whether you left money on the table. The auction creates a competitive bidding environment. You'll have knowledge of what the market is willing to pay for your property, enabling you to make your decision to sell with certainty and confidence. The process of gathering all interested parties in one place at the same time gives you the best opportunity to obtain the highest possible price.

Q: How will my property be marketed?
A: A key advantage of auctioning real estate is the benefits of customized advertising and marketing programs. Auction marketing typically consists of print advertisements, targeted direct mail, fax marketing, e-mail marketing, property signs, and web listings on www.tranzon.com. The Tranzon companies have marketing professionals producing all advertisements and marketing material, with an eye toward highlighting your property's strongest features. Your property will be exposed to the widest possible buyer audience, thereby increasing your possibilities of a successful sale at the highest possible price. In an auction marketing campaign, your property will generally be the ONLY choice in a given category or neighborhood, not one of many listings from which a buyer may choose. In an area where multiple homes or other properties have “for sale” signs in the yards, the property with the “auction” sign will garner most of the attention.

Q. What is the difference between a live auction and a sealed bid auction?
A: In a live auction, interested bidders arrive at the same time and place for a publicly called auction. This allows bidders to raise their offers in answer to their competitors. In a sealed bid auction, previews and open houses take place the same way they would for a live auction. Bidders must submit their bids in writing by a specific date and time and do not know what their competitors are bidding on the property. For some properties, the best option is to hold a live auction. For others, a sealed bid auction will result in the best response. Tranzon Alderfer real estate experts can help you determine which option is the best for your particular property.

Q: How often is Tranzon successful in selling property at auction?
A: Tranzon has historically sold approximately 85% of its auction listings. And for institutional sellers, estates and trustees, this percentage is historically above 90%. Rarely does a Tranzon auction purchase contract fail to proceed to closing. This contrasts with traditional real estate listing contracts, which historically have far lower success rates. And because of the absence of contingencies in a typical real estate auction contract, auction sales are more likely to close than traditional real estate contracts. You’ll appreciate greater certainty of selling your property via a real estate auction listing with a Tranzon company than via a traditional real estate listing.

Q: What makes a good auction seller?
A: A good auction seller is a seller who is motivated to sell his or her property and is ready, willing, and able to accept the highest bid for his or her property. Remember, the goal of a well-executed auction is to provide the highest possible sale price for your property in the shortest possible time period.