The Auction "Stigma"
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Unfortunately, reality is to often blemished by
perceptions that are put together over a period of
time and circumstances. Perceptions that are based on
emotions or feelings and not on real facts. In fact,
it's been quoted that "Perceptions are ninety
percent of reality". These perceptions, or
paradigms, have inhibited the auction industry in some
parts of the country over the years. If a closer look
were taken, there are some interesting actions and
emotions behind these perceptions. |
Prior to the "Great Depression of 1929",
auctions, especially real estate auctions, had
consistently gained in growth and popularity as an
effective way of bringing the buyers and sellers
together to consummate a sale. After the Great
Depression, the growth in real estate auctions was
stymied in some parts of the U.S. due the trauma that
families experienced during those poor economic times.
Too many mortgage loans on family farms, businesses or
homes were foreclosed on and, consequently, the
property was sold at auction to keep a mortgage holder
from going under. While the auction company was not
responsible for the foreclosure, the auction company
still received the negativity in many people's
perception process. In some situations, this
"Depression Mentality" towards auctions
influenced real estate decision makers for years, thus
decreasing the number of real estate auctions and
inhibiting their popularity, at least in perception.
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Today again, auctions are part of the American way
of life in many areas of North America. They fill the
buying and selling needs of thousands of people. Many
products still have their origin on the auction block
and no one, regardless of financial status or
heritage, can escape the magic of auctions in the
buying and selling process. Real estate sold at
auction amounts to billions of dollars each year and
includes all different kinds of residences, businesses
and industries. |
Although not every property is an auctionable
property, not so much because of property type, but
rather the circumstances and conditions of the sale,
it becomes a prudent decision to determine whether
your property can best be served by an auction.
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Remember, all qualified bidders at an auction are
unconditional buyers, there for the
purpose of buying
for
"true market value"
today! |
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