Real estate auctions: anyone?
There’s news that the National Real Estate Auction Corp. will host a massive real estate auction in downtown Phoenix next month — offering everything from starter homes to multimillion-dollar estates. This is according to East Valley Tribune.
Although auctions can be a good tool, buyers and sellers need to do their homework, said Brad Wood, an agent with Realty Executives in Scottsdale.
“It’s all about pricing,” Wood said. “Just because you’re buying from an auction doesn’t necessarily mean you’re getting a good deal.”
I totally agree to this. I mean, even when buying property overseas, you need to take your time, listen to different people, and do your homework.
But it’s interesting that competition drives a lot of real estate agents to the heights of creativity — in this case, auctions, which are a bit unconventional. Or are they?
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