Residential real estate auction represents the fastest growing segment of the auction industry. According to the National Auctioneers Association, real estate auctions generated $58.6 billion* in revenue in 2008. While foreclosed properties accounted for some of this increase, much of it came from properties owners who needed to sell quickly due to job transfer, health condition, death or mounting debt.

Selling real estate through auction is fast, efficient and effective. A real estate auction can take as little as two months to transact—from start to finish. Property showings are limited, so the seller isn’t inconvenienced by potential buyers going through the property for months on end.

Properties typically sell at auction “as is, where is” meaning buyers bid at their own risk. There are no contingencies and no guarantees about the condition of the property.

Lawrence Auctioneering can provide professional advice or counsel if you are considering selling a property at auction.

Here are some tips to consider if you want to sell your real estate at auction.

Lawrence Auctioneering is an Accredited Auctioneer of Real Estate.


*Source: National Auctioneers Association/MORPACE International.