From the Chicago Tribune
Q: Can you advise if there has been any comparative analysis of selling a home via auction vs. listing? I have been searching but have been unable to find any independently verifiable comparative analysis reviewing the traditional MLS/Realtor listing process vs. an auction process. Your guidance and comments are most appreciated.
A: There really hasn’t been anything worth using. Auction.com tells me they’re working on it but don’t have comprehensive stats yet. Anecdotally, they’re finding that homes are selling faster via auction because it focuses attention on the actual date that a property is going to be sold. We have heard the same thing from small and large auction companies for years — it’s a main selling point.
What’s interesting is that online auction companies, like Auction.com, are finding ways to work with agents. They need agents to list the properties with them and then Auction.com pays some sort of reduced commission. That way, they’re working with agents instead of against them.
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