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3 Types of Auctions to Sell Your Property

At Open Door Auctions, as the name implies, we use the auction format to sell your property at the best market price and it happens in only two weeks. Even so, we realize that the auction process isn’t a one-size-fits-all prospect. Depending on your specific needs, we offer three types of innovative auction approaches and will help you determine which is the best fit.

Open Door Auction
This auction format is so popular we named our business after it. An Open Door Auction is intended to attract the highest number of bidders. The two-week sales process starts when we list your house in the MLS and kick our other promotional methods into high gear. Every day, the MLS price listing drops in order to attract new bids. The goal with an Open Door Auction format is to arrive at true market price in the shortest period of time. At the end of the two weeks, you are free to reject all the offers if you want. Or better yet, take the best one and get on with your life.

Closed Door Auction
High end property owners might not want to mess around with the rank and file buyer, choosing instead to conduct a Closed Door Auction, which stresses the pre-qualification of buyers. You likely won’t receive the sheer number of bids but those that you do will be serious buyers and not tire-kickers. The Closed Door Auction process is sometimes called a Qualified Auction.

Real-Time Auction
Once again, nothing sneaky about the name. A Real-Time Auction happens in, you guessed it, real time. With a Real-Time Auction, interested buyers gather in one place and even online to bid on a property. The advantage to this format is that lots of bids can be collected almost instantly. The presence of an on-site professional auctioneer allows for him to use his skills to generate enthusiasm, a feeling of scarcity, and attract great bids.

Regardless of which type of auction suits your situation, you can rest assured you will sell your property quickly, at the best price the market will bear and, best of all, completely avoid the traditional real estate industry malarky.

The Open Door Auctions Team




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