Auction Industry Overview

The sale of Real Estate in North America through auction has been for over a Century. The widely accepted definition of a real estate auction is "The sale of real property through a competitive bidding process". In 2008 nearly $275 billion of goods and services were sold using the Auction method with real estate being its hottest sector, accounting for close $70 billion.

With the recognition of the importance of ongoing interest costs and or the loss of return on capital locked up in idle assets, the marketplace has placed increased importance on the time value of money. This fact coupled with the added benefit of increased exposure of heavily marketed auction properties and a slowing real estate market has brought about an increase and sale of properties through the auction process.

Auction is the very best method of leveraging the traditional real estate market in your favor and maximizing exposure and price, while minimizing time and carrying costs of vacant or overbuilt properties in a softening market place.

An auction is an event where bidders can observe the open competition and act in their interest in the marketplace. Sellers have the opportunity to obtain not only a willing buyer, but the best of all willing buyers. The auction method typically produces an offer within 30- 45 days from signing the auction listing contract that will represent the best price the market will offer.

Call Troy Fowler for more information at 305 206 0349 or visit www.Auction-Generation.com and watch a free video presentation.