Who sells their property using the Auction Method?
Anyone who wishes to accelerate the sale of their property by generating additional consumer interest and activity. Advertising a property for auction creates a sense of urgency, bringing all interested parties together on one specified day.

An Auction provides multiple bidders competing to buy, bringing higher revenues than negotiating with a single buyer. Non-contingent contracts and 30-day settlements are required of the buyer of your property. This means a quick transaction for you.

What types of property do you sell?
We auction all types of real estate - Residential, Commercial, Land & Investment.  From condominiums, co-ops, townhouses, single-family dwellings, farm land, vacation properties, commercial to high-end premier properties. Auctions have been successful in all of these categories.

Can I attend an auction before I decide to sell my property this way?
Absolutely!  In fact, we recommend attending at least one auction so you can experience a live example of the process firsthand. Check our “Upcoming Auctions” schedule or give us a call at 816. 628.6060.

I am concerned about what people may think if I should auction my property. I am not in financial trouble.  Can you give me any insight on this?
You are not alone in your concerns. Many people are concerned about the old-fashioned perception of auctions that some people have. There are great differences in the marketing and the public image of a voluntary, 'by choice' auction, such as ours, versus a distress auction. Our auctions are positive, enthusiastic events designed to generate competitive bidding to secure the highest possible market price for your property. For more information on the changing view of Real Estate at Auction, see “Media on Auctions.”

Will we still have to worry about contingent contracts?
Everything that we sell at auction is sold "as is" and "non-contingent," with a 30-day projected settlement date and the buyer paying all allowable closing costs associated with the sale.

I am concerned about the net amount I will realize from the auction, and my ability to cover my existing mortgage. 
 We understand your concerns and your need to cover an existing mortgage on your property.  Auctions are designed to accelerate the sale of property by determining what the market is willing to bear. On auction day, the market will determine what assessment is acceptable for your property.

The fact that you are selling at auction does not change the market value of your property. In short, if the market value is at a level below your existing mortgage, then that is the price that you have to work with regardless of whether you use the traditional method or the auction method to sell your property.

How will my property be marketed?
We have a focused and highly customized advertising and marketing program. Auction marketing typically consists of print advertisements, targeted direct mail, e-mail marketing, property signs, and web listings on our website, as well as realtor.com and Heartland Multiple Listing Service. We have marketing professionals producing all advertisements and marketing material, with an eye toward highlighting your property's strongest features. This means that your property is exposed to the widest possible buyer audience, increasing your possibilities of a successful sale at the highest possible price. In an area where multiple homes or other properties have for sale signs in the yards, the property with the AUCTION sign will earn most of the attention.

Where will the auction of my home be held?
We hold most auctions on-site. By being on-site, bidders are continuously reminded of the positives associated with that particular property, which, in turn, can encourage higher bids.

Does "as is" mean that I do not need to disclose any known defects?
Though we are selling "as is," we must abide by pertinent state and federal laws. The Broker-Auctioneer will offer full disclosure to all interested parties in accordance with the law.

Who pays the Auctioneer’s commission?
The Auctioneer is paid via the buyer's premium, which is added to the buyer’s final bid. There is no commission charged to the seller. The seller is only required to invest in the advertising and expenses of their auction event. This way you can be sure you receive the maximum advertising exposure possible for your property. If all the advertising investment is not fully used, whatever is remaining will be refunded back to you at closing.

The property is priced below the market right now. What is this going to mean if I list it for auction?
We find that often price is not the issue in determining why a property has not sold. Many times the reason that a property has not sold is that there has not been ample traffic to view the property, and therefore, not enough interest has been generated in order to sell the property. In other words, it has become "stale" on the market. The auction process is the best way to revitalize interest in the property and instill the enthusiasm for it that will result in a positive sale.

How do I sign up for auction?
Call us today to set up an appointment to view your property and determine whether
it is appropriate for the Auction Method of sale. You can also fill out our Property
Analysis form and we will contact you. If your property is listed with a real estate
broker, ask them to refer your listing to Coldwell Banker Glennon-Weber
Auction Division and the broker will be compensated.