 Posted 6/5/2007 5:14:34 AM
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I would like to know if anyone has any thoughts or experiences selling real estate at public auction. What are your thoughts on this method of marketing real estate?
I am a recent graduate of auction school and am a licensed and bonded auctioneer in my home state of Pennsylvania. I am new to the business, lacking in that 'experience' everyone wants, but every business professional has to start somewhere. I am determined to work hard for my clients to get the best possible results for them.
One of the things I really like about real estate auctions is the competitive environment created for those who want to buy a property. Instead of starting with a high price and negotiating down, the auction process forces buyers to raise their bids if they want to be the successful purchaser. I have attended auctions all of my life, and when two or more people really want something it is amazing how they will try to outdo each other. I should also mention that most cases the seller has the right to reject the high bid if it is not enough.
Again, I'd like to hear others' thoughts on real estate auctions.
Michael E. Morris
Professional Auctioneer
www.memauctions.com
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