Sell at Auction

Absolutely! An auction can work for nearly every type of property and situation. Because each property is unique, we specifically tailor the sales process for your property and circumstances.

We sell homes, lots, acreage tracts, and commercial properties across South Carolina, as well as North Carolina and Georgia. Terry Howe & Associates are licensed real estate brokers and auctioneers in all 3 states.

The Auction Sellers list above shows the various types of sellers for whom we have conducted auctions. These sellers have chosen the auction method for a wide variety of reasons. When you submit a property for evaluation, we not only look at the property and market, we also evaluate whether an auction is right for your situation.

Each seller will have their own take on what is most important to them when choosing an auction—faster sale, selling as-is, no negotiations, a simple process, and more. However, we believe that all auction sellers benefit from competitive bidding.

Competitive bidding is the driving force behind a successful real estate auction because it creates urgency, transparency, and real-time price discovery. When multiple qualified bidders compete, their bids validate market demand and encourage other bidders to make higher offers. In an auction environment, bidders know they could lose the property immediately if they hesitate. This urgency motivates buyers to bid aggressively and is further fueled by their desire to beat other bidders.

This competition removes much of the uncertainty in a traditional sale, where buyers rarely need to move swiftly and often move more slowly amid prolonged negotiations over days or weeks, because there is less urgency or pressure from other buyers. The negotiations generally include a number of contingencies, for property inspections, financing, etc.

Conversely, the auction eliminates the negotiations by using a clear, pre-defined set of terms that all bidders agree to when participating.

Auctions bring all interested buyers into a single, competitive process at the same time under the same terms, allowing the market to efficiently and transparently determine value.

More bidders means more competition, which leads to a higher sale price.

Real estate auctions are a great way to accelerate the sales process. Most auctions can be marketed and conducted in as little as 30 to 45 days, with property closings scheduled within 30 days of the auction’s end. 

Auctions compress months of marketing and the uncertain timeline of a traditional real estate sale into a shorter, well-defined process designed to sell your property quickly and efficiently through competitive bidding.

The closing process is more predictable and efficient due to the clear, pre-defined terms, the absence of post-contract negotiations, and large earnest money deposits.

While each auction is different and costs can depend on the type of property and situation, the costs for most auctions are pretty straightforward. 

The seller pays a low auction-entry fee that contributes to promotion and advertising costs. The buyer pays our commission through the buyer’s premium* and also pays all closing costs, including those normally associated with the seller in a traditional real estate sale.

*Buyer’s premium is a percentage that is added to the bid price to determine the contract sale price.

When you sell real estate at auction, you can sell it as-is: without costly repairs or renovations often needed for a traditional listing. Qualified bidders know the property’s condition upfront and bid accordingly, which helps eliminate uncertainty, drawn-out negotiations, and frustrating contingencies.

The result is a straightforward, efficient sale with clear terms from the beginning. Our experienced auction team handles the details, guides you through the process, and helps position your property to attract serious buyers and secure its full value. 

However, if minor repairs, general landscaping, etc., can be completed at a low cost and enhance the property’s value, we recommend completing some of these items before the auction.

Correctly identifying the prospective market for your property and reaching that market are key to a successful auction. We create a marketing plan designed to attract those bidders and encourage them to bid in your auction.

We will market your property through a mix of different advertising media, including direct mail, signs, email marketing, social media, and real estate aggregation sites, such as Zillow, Trulia, realtor.com, and more. 

The right mix is based on years of experience, consistent review of advertising data, and an understanding of the information prospective bidders need to make an informed decision.

Oftentimes, we will even include a property tour video that highlights your property’s features. These videos have proven to be very effective in promoting bidder participation.

Online bidding works much like a traditional live auction, except it offers several distinct advantages.

Location: One of the most limiting factors in a live auction is its location. Potential bidders outside the immediate area must factor in the cost of travel, including time and money. This severely restricts the total number of bidders who can participate in the auction.

The Online Only Auction removes this limitation. The bidders can participate in the auction from any location with an internet connection. This is very important in today’s marketplace, where bidders can literally come from anywhere. We have had bidders and buyers from all across the United States and several foreign countries.

By shifting the auction online, you open it to more bidders. This includes bidders who may live in a distant location and even those traveling out of town.

Time: Another limiting factor of a traditional live auction is Time. The bidding is limited to a specific date and time, and there is only one opportunity to participate. If the bidder isn’t there for whatever reason, they cannot bid. You lose the opportunity to attract bidders who may want or need to bid at a different time.

With an online auction, bidders can participate at their convenience over a couple of weeks and are not limited to a specific date and time. 

By opening online bidding for 10-12 days, you again allow more bidders to participate in the auction. This includes even local and regional bidders who couldn’t attend a live auction because their schedules wouldn’t allow it.

Participation of Bidders: The online auction attracts more bidders. Instead of asking bidders to come to the auction, we are now taking the auction to the bidders. This makes it easier for them and asks less of them. People are more willing to participate when the process is simple, comfortable, and requires less effort.

 Many bidders are new to auctions and have not previously participated in any type of auction. The online process is open and transparent for them, and the bidders feel comfortable with it. They are not intimidated by it, unlike the less common live auction process.

Ready to find out how we can help? Click below to submit your property for a free auction evaluation.