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From Realtors.org:

Auction is truly a win-win situation for both buyers and sellers: sellers obtain immediate cash and buyers purchase properties at fair market value, the price determined by open, competitive bidding.

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• Real estate is the fastest-growing segment of the auction industry, which grossed $257.2 billion in revenue last year. It’s growing exponentially because more and more people are becoming tired of a lengthy listing.

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• Auction allows the seller to eliminate virtually all long-term carrying costs, passing the savings directly to the purchaser in the form of a reduced price.

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