DO YOU ALLOW RESERVE PRICES ON REAL ESTATE CONSIGNMENTS?
This is a question that comes up quite often at consultation meetings between real estate consignors, Smith and Smith, Realtors and Southside Auction Co! We do not condemn the consignor for asking this question because it's a reasonable question and one that needs to be asked! Reserve prices are allowed on real estate properties under certain conditions, but there is usually an additonal fee involved for using a reserve price. The conditions for selling real estate at auction with a reserve price and the fees for doing so are determined and established by our real estate broker, Jim Smith of Smith and Smith, Realtors.
Many real estate owners are afraid to even try to sell their residential homes, commercial properties or rural / undeveloped properties at auction simply because they are afraid that the auctioneer or auction company is going to sell their property below the fair market value. In all honesty, a huge percentage of the properties sold at auction in Oklahoma (and throughout the country) reach a final bid price that is equal to or above the fair market value. When conducted in a professional manner and advertised throughly, public auctions of real estate are a quick, effective and lucretive means of selling real estate! Sometimes it's a good idea to use a reserve price and sometimes it's not!
If you have any questions about selling a real estate property at auction with a reserve price, please call Jim Smith of Smith and Smith, Realtors:
JIM SMITH
Smith & Smith, Realtors
"Providing Homes for Tulsa's Diverse Community"
4845 South Sheridan, Suite 509A
Tulsa, Oklahoma 74145
Office: (918) 622-0402
Cell: (918) 671-8724
Fax: (918) 622-8875
jim@smithandsmithrealtors.com
!! IT NEVER HURTS TO ASK A SIMPLE QUESTION !!
