This question posted in Feb 2008
I love auctions!
Auctions raise the cost of selling a home from the traditional 5.5 to 7 % up the 11% or 16%!!!
Why I love them so much is everyone involved feels like they got a deal!
They beat the system!
They did it their way!
And everyone, except the home seller...made more money!!!
I do love auctions.
Another thing I like about auctions is all those folks with those printouts from Zillow with a value of $127,00 for the house. Within seconds the Zillow thought balloon explodes as the bidding heads beyond $180,000.
And everyone feels they got a deal! While the reality is, the cost of selling real estate went of dramatically.