A real estate auction is an innovative and effective method of selling real estate. It is an intense, accelerated real estae marketing process that involves the public sale of any property - most certainly including those that are nondistressed - through open cry, competitive bidding.
Unlike traditional real estate and personal property listings, auctions set no ceiling on sale price. Instead of the price haggling coming between the seller and buyer(s), bidders compete with each other on an upward swing to determine sales price. The live auction's environment by nature encourages aggressive buyers.
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