I have been trying to sell my house for a long time and I’m considering an auction now to try and sell it. Will an auction work for a $250,000 house in town or is it just for beach properties?

Auctions have been woefully unsuccessful in this market, which is why they are so rarely conducted here. Most auction properties that we have seen over the past 5 years have failed to sell at all, because the seller mistakenly believes that they can hold out for top dollar and the buyer mistakenly believes that they can get a huge discount. Two people cannot save the same dollar.

In a strong seller’s market, an auction may actually serve to “run up the price” a little. But otherwise, in a normal market or buyer’s market, expect lower average sales prices, and this, after spending all the upfront money that the seller is required to contribute prior to the sale.  Statistically much better to sell conventionally through an experienced Realtor.