The power of a deadline is an incredibly useful negotiation tactic. Deadlines force people to make decisions and take action. Think about it, each year most of us live our lives by seasonal deadlines; Tax day, Memorial day, and Christmas Eve just to name a few. We all respond to deadlines.
There are two main advantages I have as an auction specialist. The first is the power of accelerated marketing, and the second is the power of a deadline. Used in combination, they can sell the unsellable.
How is it a property can languish on the market for years and then sell in six weeks through the auction process? The deadline, the auction day, has forced both the buyer and the seller to reach an agreement and strike a contract.
This only works if the auction seller is ready to let a competitive group of qualified buyers set the price for the property. Ask yourself; do you think that sellers set the price for property or do you think the marketplace dictates the price? If any of you answered “sellers” you probably have a lot of days on market.
Maybe you don’t like deadlines. Do you often file for extensions and send belated birthday cards? Are you usually late for meetings? Are you someone whose dog routinely ate his or her homework? For you deadlines are a nuisance, they only have to power to annoy you.
If, however, you like to know when you’re going to do business and you or your client is ready to know with certainly when your property is likely to sell, may I suggest you consider selling at auction? It’s like ripping off the band-aid. As an auction specialist I find that I get results that are as strong as the next agent, I just do it faster. Consider the power of a deadline, it can work for both buyers and sellers.
Broker / Owner Guerilla Realty and
Vice President Tranzon Fox Auctions
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