What is auction?
The word auction means “to increase.” Dating back to Roman times, auction is one of the oldest methods of selling. And yet today, auction remains the preferred method for marketing real estate when you want a smooth and speedy transaction at the True Market Value. Auction involves a short and intensive marketing campaign. We advertise the subject property but do not state a price. This technique tests the market and tells us what prospective buyers, in a competitive bidding situation, might be prepared to pay to become the new owners of that property. Then, combined with our standard Competitive Market Analysis, we can get a truer picture of the property’s True Market Value.
