Develop a Strategic Partnership
Whether you’re new to the profession or are a seasoned agent, Ashland Auction Group is interested in establishing a strategic partnership with you and your client. Being an innovative and effective method of selling real estate, auctions are a strategy all agents should add to their toolbox.
Why an Auction?
Auctions are one of the simplest ways to sell a property because they remove all of the ambiguity. By selling real estate at public auction, the seller is placing their property on the auction block – the most open and transparent marketplace available. You are dealing all of the buyers the same hand – providing them with a level playing field, and more importantly, the seller is provided an opportunity to sell their property for its true market value.
“Are all properties ideal for an auction? Is my client’s property better suited for an auction or a traditional listing?”
Rule of Two-Thirds
The answer isn’t always black and white. Auctions, like traditional listings, span a variety of sales – residential, commercial, industrial, and land. They also can run anywhere along the spectrum – from a fire-damaged townhome to luxurious mansion and everything in between. According to The National Association of Realtors, agents should offer an auction marketing strategy as a viable option for a real estate sale if it passes The Two-Thirds Rule.
The Two-Thirds Rule tasks real estate professionals with a simple, yet crucial evaluation of their client’s property. To pass the test, the property needs to appropriately meet criteria for two of the following three areas:
Given the current market, would an auction be an effective manner of attracting ready, willing, and able buyers?
Given the seller’s current situation, would an auction be assitive to meeting their needs?
Given the property and the circumstances surrounding its sale, would the terms of sale ease the conveyance of the property?
Applying The Rule of Two-Thirds
Interested in learning more about the National Association of Realtor’s Rule of Two-Thirds? Read this article to learn more about the criteria real estate agents should use to determine if an auction marketing strategy should be considered.
Benefits to the Seller
Benefits to Real Estate Agents
- Attract Ready, Qualified Buyers
- Sell Property for True Market Value
- Exposure Beyond the Multiple Listing Service (MLS)
- Earn Commission as a Referring Agent
Have a Referral?
Speak to a Listing Agent – Call 410-488-3124