Doug Westgate

3. Buyers act on your schedule
4. Auction conducted in 45 to 60 days or less – 5. Holding costs are limited to marketing period
6. Auction creates a sense of urgency to promote buyer interest
7. No limit on upside potential – price is bid upwards to realize maximum market value
8. All conditions of the sale are set by the seller in advance, thus eliminating negotiations
9. Property sold without contingencies
10.Auction contract calls for a cash sale – Buyers are ready, willing and able to close

TRADITIONAL LISTING
1. Property is one of many being advertised and shown
2. Upside potential limited by asking price – Price is usually negotiated down
3. Little motivation for buyers – you wait for them
4. May remain on the market for months or even years or never sell during the listing
5. Holding costs are ongoing
6. Price reduction encouraged to create buyer interest and activity
7. Minimal advertising - Heavy reliance on multiple listing type of service
8. Seller must negotiate all aspects of the sale
9. Contingencies are common and can eliminate a sale at any time
10. Contract is almost always contingent upon financing often resulting in deals falling through

Call me today to schedule a free auction consultation 501-815-4004 ~ Doug Westgate
licensed Arkansas real estate agent/ licensed Arkansas auctioneer