Yes, an auctioneer can offer a retail property for auction, the question is, is there a buyer willing to pay retail for it. Many properties are listed at retail by agents due to the loan of commissions and settlement cost.
if you really need top dollar for your property, the auction method of marketing may not be the answer. Try selling it yourself a bit below retail (if you really know what that number is).
Offering owner financing is great, I call that “contract candy”, this will attract more buyers to your property.
I will be glad to counsel with you, no charge, about your property and how you can sell it quickly.
I’m selling a house for 50 cents on the dollar (already rehabbed). I’ve tried every different kind of marketing technique I could think of to find a buyer and so far, no luck.
If you own it free and clear, then add that you would be willing to finance part of the purchase price. This will increase your call volume tremendously.
There will always be someone trying to sell a new system to benefit themselves. Take your own counsel. If you really think you have a great wholesale property and you’ve done your comps and research, I would recommend that you consider a “reserve real estate auction”.
Having an auction you can avoid commission and settlement cost and bidders at the sale will bid against each other, not you.
Let me know if you need some more information on this subject (for free), I am an auctioneer and investor for over 40 years.
Re: I’m having trouble finding buyers… - Posted by pboone
Posted by pboone on February 13, 2011 at 01:50:07:
JJR,
Hate to tell you this but if the property were at 50 cents on the dollar it would have already sold. Re-check your comps and re-price. it’s quite possible your value is based on dated or out of neighborhood comps
pb
Re: I’m having trouble finding buyers… - Posted by David Krulac
Posted by David Krulac on February 12, 2011 at 13:12:12:
advertise the hech out of it. online, newspapers, signs, direction signs, flyers, bulliten boards, mailers to all neighbors within a mile, etc, etc, etc, car signs, truck signs.
and maybe your 50% discount is not really a 50% discount. Or maybe you have to go lower to sell, some properties are selling for less than 50 cent.
Charles, can you use this “reserve real estate auction” technique for a retail property. I have a property I’d like to sell, and while I can owner finance it, I can’t afford to cut the price much to someone looking for a great wholesale deal.
Re: I’m having trouble finding buyers… - Posted by John A. Mauney
Posted by John A. Mauney on February 13, 2011 at 11:23:59:
Please visit johnmauney.com. The progressive purchase program may not
get you a buyer today (at a discounted price) but helping another person
get into a home (because they just lost theirs and/or have poor credit)
stops the bleeding, safeguards your credit rating and will allow the
purchaser to get a fresh start. Think about it. John A. Mauney