Selling Real Estate at Auction
You may have questions concerning how property auctions work, especially if you've never sold real estate at an auction before. We've answered some of the most commonly asked questions on the process in the following property auction overview.
How does a Tranzon auction work?
Here’s an example of a typical property auction process.
If you are interested in finding out how the professionals at Tranzon can help you sell your real estate, give us a call or fill out our FREE Property Evaluation. One of our professional real estate auction advisors will be in touch shortly to talk to you about the next steps you can take toward selling your property.
Everyone’s situation is unique, so we’ll ask some questions to get to know about you, the property you’re selling, and your goals for the sale. Using this information, we can walk you through the ideal solution for your needs and decide whether a property auction is the right service for you.
Tranzon’s expert team will assess your goals, analyze the potential market, and present you with a customized strategy for effectively reaching the right buyers for your property using Tranzon’s Market-Making System™. This plan will include our recommendations for how to structure the sale as well as how we plan to find and target the right buyers.
During the planning period, we'll help you understand more about the marketing and selling process, property auction fees and tips for ensuring your property auction moves along as efficiently as possible.
We will advise you on the best strategy for structuring your sale -- for example, if you should set a reserve price, and whether to hold your property auction live on-site, online or as a simulcast (live and online) auction — depending on your situation and unique needs. During the planning process, we'll discuss these options more in-depth to come up with your ideal solution.
When a strategy for the sale is agreed upon, we’ll go to work — aggressively marketing your property to a targeted audience in order to build awareness among serious buyers. Circumstances may differ, but we will usually market your property for 30 days prior to the sale date. We’ll keep you informed with detailed reports about the effectiveness of our marketing along the way.
4. Sale Day
On sale day, pre-qualified bidders will compete to buy your property without contingencies, and the winning bidder signs the purchase agreement that same day.
Bidders will compete only after receiving all the necessary information to make a decision. Each bidder comes prepared and pre-qualified to purchase your home or property.
Because your buyer is pre-qualified and there are no contingencies on the sale, closing is typically a straightforward process that takes 30-45 days.
This proven method of selling real estate, combined with Tranzon’s depth of expertise, has been successful time and time again for the sale of all types of property, including commercial, industrial, residential, recreational, and land. We’ve helped financial institutions, corporations, investors, and homeowners all over the country to find the right buyer and get a good return on the sale of their real estate.
How do we help you sell your real estate in the shortest possible time, at the highest possible price?
Tranzon's expert auctioneers have extensive knowledge and training to help people like you sell their homes, business or property investments within a timeline that meets their needs and without compromising its fair market value. Our extensive nationwide reach allows us to navigate even complex multi-state seller portfolios, as well as reach the right buyers no matter where they are. Our local presence gives us specific insight into the local market and how to successfully structure the sale of your property. This combined local and national expertise allows us to find the best real estate auction prices and market to the most receptive target audience.
Our Market-Making System™ is also an immense asset in selling your property as quickly as possible. Our team has access to a continually growing database of property investors throughout the U.S. who are pre-qualified and ready to bid on your property. We use this knowledge to proactively build a personalized and multi-pronged marketing strategy to drive the right audience of interested buyers to your real estate before the sale date.
We raise the interest of your target audience and turn them into competitive bidders using professional images and videos, robust property information, inbound and outbound calls and extensive email marketing tools. Then, on the sale date, your bidders come together in one place at one time -- not to negotiate with you, but to compete with one another in an open, transparent process -- to determine then and there what the winning bid will be.
How do you take the next step in auctioning your property?
Simply request a free professional property evaluation to start the next steps in the property auction process. Along with your contact information, you'll need to provide some more details about the property you want to sell, including the address and property type. We'll then A Tranzon real estate auction advisor will be in touch with you soon.
If you'd like more information, feel free to contact a member of our team directly.
Ready to get started? Fill out our FREE Property Evaluation.
Want to learn more? Check out the following resources: