Selling your property can be tough. Even with 740,000 registered buyers on Bid4Assets, we still see sellers list auctions for sellable properties that fail to attract a single bid. There are plenty of reasons why a property might not sell, from location, to liens and back taxes, to even the occasional ghost story. But more often than not, we see properties fail to move when new sellers make easy-to-avoid mistakes that scare away buyers.
Bid4Assets has been operating in the online real estate auction industry for over 20 years and we've seen what separates a good seller from a great one. Here are 3 simple things you can start doing to strengthen your auctions and increase your chances of selling today.
When creating your auction’s description, it is important to remember that the description is not just your contract, it is also your sale’s pitch. While a description should inform a bidder exactly what they are buying, it should also explain to them why they would like to buy it.
This can involve highlighting things like location, entertainment opportunities, special features, and attributes that will lead to appreciation. Take some time to think about what makes your property unique while writing your description and be specific. It just might bring you an ideal buyer.
In general, there are three pricing strategies you can consider when listing an auction on Bid4Assets:
It is very important when creating your listing to know which pricing strategy fits best for your needs. This involves giving some honest thought to how much your property is actually worth, what someone might be willing to pay for it and how quickly you need a sale.
There is no getting around it, the chances of a bidder taking interest in your auction decrease dramatically without a photo. This is even true when dealing with vacant land auctions. Keep in mind, many online buyers do not have the time to visit your property prior to bidding. Providing as many detailed photos of your property as possible helps assure those bidders about the legitimacy of your sale, while also sparking greater interest in the item itself.
If you haven’t got time to physically take photos of the property yourself, consider using a third-party tool like your ReportAllUSA, Google Maps or Bing Maps to get pictures. You could also consider finding a photographer from sites like Craigslist to take on-site photos on your behalf. It is an extra expense, but it could also be the difference between attracting a buyer and having to re-list.
There is no secret to overnight success. But if you take away nothing else from this article, understand that a little extra planning when creating your listing can go a long way to finding your buyer. Think about what makes your listing unique, decide which pricing strategy you want to use and pick the best photos to make your property pop in front of a buyer. Good luck in your next auction!