The Auction Method

Simnitt Real Estate & Auction, Inc. has a wide range of experience in all auction types and areas. We have a staff consisting of:

  • Professional Auctioneers
  • REALTORS®
  • Research Staff
  • Advertising Professionals
  • Internet & Web Site Specialist
  • Sales Manager
  • Auction Set Up Staff
  • Online Bidding Administrator

We have years of Commitment & Experience for our clients!

WHAT IS AN AUCTION ?

A public sale in which property or items of merchandise are sold to the highest bidder.
An auction is the process of buying and selling things by offering them up for bid, taking bids, and then selling the item to the highest bidder. In economic theory, an auction is a method for determining the value of a commodity that has an undetermined or variable price.
Auctions are the most unique and valuable way of selling almost any type of personal property. Some of the most popular auctions are those that involve household items, or livestock or antiques. But auctions involve so many more possessions: automobiles, office equipment, art, machinery, industrial equipment, electronics.
One very rapidly growing area is real estate. More and more people are buying and selling their homes and land by the auction method.

WHY AN AUCTION ?

How can auctions benefit you as a seller?

Why are auctions the best way to sell property?

There are a number of reasons:

SPEEDY PROCESS, QUICK TURNAROUND
An auction is immediate. It happens during a set time and is completed during that time. It’s quick and efficient.

YOU SET THE TIME AND PLACE OF YOUR SALE
It’s as simple as that. You work with the auction firm to schedule what works best for you.

YOU KNOW EXACTLY WHEN YOUR PROPERTY OR GOODS WILL BE SOLD
There’s no wondering whether or not your property will sell. It WILL sell and it will sell during the set auction

COMPREHENSIVE MARKETING OF YOUR PROPERTY
Part of conducting an auction is marketing it to the general public to get as many people there as possible. Auctioneers have comprehensive mailing lists they use to market their sales. They run advertisements, distribute fliers and more. They are marketing specialists. A good marketing effort can easily bring 300 to 400 people to your auction, or more!

BUYERS COME PREPARED TO BUY
Auction goers come with money in their wallets, pockets, and hands and are prepared to come home with property. It’s a seller’s delight. For real estate auctions, this is especially advantageous because buyers must qualify to buy through a deposit of a certified or cashier’s check.

NO NEGOTIATIONS
There is no haggling over price or merchandise. The auction method is quick and efficient. When people bid, they make a commitment to buy the property at that price without discussion or debate.

NO LEFTOVERS AND LITTLE CLEANUP
Every item at an auction goes up for bid and every item is sold. How many of you have ever had a garage sale and when you’re finished, you spend hours packing up what didn’t sell and looking for places to store it? With an auction, there’s no worry about what to do with leftover items because there aren’t any. This means very little cleanup, also.

COMPETITIVE BIDDING
Auctions motivate buyers to perform. People get caught up in the competitiveness of the bidding and many times this drives the price of items higher. To some it’s like a game, and they want to win at all costs (or hopefully for you, at high costs!) And did you know that 9 times out of 10, an auction brings in the fair market value, if not more, for any item put across the auction block?

EXCITING ATMOSPHERE
There’s no more exciting atmosphere than an auction. Crowds of people competing for property, combined with that lively auction chant makes for some great entertainment and fun. It makes people feel good and makes them feel like spending.

AUCTIONS WORK WELL IN BOTH GOOD AND BAD ECONOMIC TIMES
People love auctions because they love sales. Statistics show, in a good or bad economy auctions remain a steady force. When the economy is bad, the auction industry does not feel the impact: people still flock to auctions.