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Auction or Listing? What Would Be Best for Me and My Property?

Both Auctions and Listings have their advantages, and there is no one answer that is best for everyone. To guide you in making this decision, we have listed the main points for both methods of marketing your property to take into consideration for the sale of your property.

Listing Considerations

Pricing: Seller sets the price; and although the buyer may want to negotiate, Seller has the final say. Seller needs to be aware of market conditions to avoid risk of both under pricing the property and selling for less than it is worth or overpricing and having the property remain on the market for a prolonged time.

Timing: May be on the market for only weeks or for years.

Negotiations: All aspects of the sale are open to negotiations throughout the process.

Urgency: Buyers tend not to have a sense of urgency and will wait to inquire at their convenience or wait for a price reduction.

Marketing: Property may be marketed in more group ads. Less individualized advertising.

 

Auction Considerations

Pricing: Your property sells at the value determined by the market or above since there is no limit set by a listing price. When market prices are rising, auctions lead the way in establishing new highs in the market. When markets are declining, the property sells before values decline further.

Timing: Seller is in control of the schedule. Seller picks a sale date and from there knows the closing date. Can be done quickly. Eliminates the cost of holding the property for an extended time. Professional advice can help with the details and timing.

Negotiations: Terms and conditions are set by the seller beforehand. This gives the seller control of the desired outcome.

Urgency: Auctions create a sense of urgency and competitiveness. Indicates that you are a serious seller. Buyers realize they must act now or lose out on this opportunity to own this property.

Marketing: Property will be marketed based on the type of auction. May have more individual marketing emphasis.

 

If you are thinking of selling or buying, give one of our agents at Buy A Farm Land and Auction Company a call and let us assist you in reaching a wide audience of farmers, investors and recreational land enthusiasts.