Frequently Asked Questions

                                          Seller's Guide                Buyer's Guide                  Agent's Guide

You will need Acrobat Reader to View our flyers and packets on our website, if you do not have Acrobat Reader click the Get Acrobat Reader button.

Q. What is a Real Estate Auction?

A. A real estate auction is an innovative and effective method of selling real estate. It is an intense, accelerated real estate marketing process that involves the public sale of any property -- most certainly including those that are nondistressed -- through open cry, competitive bidding.

Q. Will Auction Marketing Work With My Real Estate?

A. It may. The only way for us to make a recommendation to you is through initial discussions with you, the seller as to your wants, needs, and desires in the sale of your property. In many cases, the auction method succeeds where there is little demand or other marketing methods have failed. For high demand properties, auction marketing capitalizes on the “energy” of a hot market and works better than any other option available - and often produces higher than anticipated sale prices. "First time on the market" developments, single family homes, condos and town homes, acreage tracts, islands, office buildings, vacant and improved commercial and industrial sites, complete resort operations, manufacturing facilities, plantations, timberland, farmland, resort and waterfront properties have all sold at a premium when sold by auction.

Q. What if someone reacts negatively toward the suggestion that they consider the auction method for the sale of his or her property?

A. If that person owned a beautiful, exquisite painting or sculpture they would probably engage Sotheby's or Christie's Auction Houses in order to achieve the highest selling price. Experienced sellers of real estate have used the auction process for generations for the same reason.

Q. What Kind Of Price Will I Receive at Auction?

A. No one can guarantee the price you will receive on property that you sell by any method. However, auction marketing compels all real buyers to be present on sale day and make their best offer. Sometimes demand can be far greater than anyone anticipated and the sale day price can exceed all expectations.

Q. How Does Auction Marketing Work?

A. It utilizes aggressive advertising and promotion to focus the entire markets' attention on one property, assembles every real buyer for your property in the same place at the same time - then, it capitalizes on the competition between all real buyers to force the price to its highest level, selling on terms and conditions and at a time and place established by the seller.

Q. How Does Auction Marketing Compare To Conventional Real Estate Sales Efforts?

A.  It's much quicker than normal real estate marketing, often results in an equivalent or higher price, dramatically reduces marketing time, eliminates holding costs, conducts a transaction on the seller's terms and conditions, reduces normal seller's liabilities & eliminates haggling over minor details.

Q. Does an auctioneer need a license?

A. The state of Georgia requires that all auctioneers be licensed. In addition, Coldwell Banker Upchurch Realty Auction Group’s auctioneers are licensed real estate agents and are uniquely qualified to assist you in the sale of property by auction. They understand two distinct areas- real estate and auction sales, and they combine the two in order to meet the real estate needs of our clients.

Q. Auctions seem to be crazy and unorganized. Why?

A. Actually, a successful auction is no mystery or accident. It is a well-orchestrated and carefully coordinated effort. It may seem a little “wild and crazy” due to the infectious energy that surrounds a sale by open bid, or cry. An auction is just plain fun to watch! From the fast talking auctioneer to the excitement of two bidders wanting the same property, it can be quite energetic. But the best result of this high-energy event is the immediate conversion of property to cash - still returning fair market value - with the minimum investment of time and money.

Q. Who can bid at auctions?

A. Our auctions are open to the public and everyone is welcome to come and bid. However, as we have said many times, but it bears repeating- real estate auctions are cash sales of property “as is, where is” and are not subject to either post-sale inspection or the ability to obtain financing. It is vitally important to read the terms and conditions set forth for a particular auction that remind each bidder of these two cardinal rules.

Q. I am interested in bidding at auction, but I don't understand the term "Cash Sale."

A. The term "cash sale" does not mean that you need to bring a suitcase full of cash to closing.  It also does not prevent the Buyer from obtaining a loan in order to purchase the property.  It simply means that the contract is not subject to the Buyer being able to obtain financing.  In fact, most people who buy auction property get a loan to do so.  Most Buyers of auction property go to a lender and get pre-qualified for a loan prior to auction day.  By doing so, they are able to bid with confidence knowing that they can afford to purchase the property at the bid price that they choose.

Q. How do I bid?

A. If you want to bid at a real estate auction ensure that you are properly registered and have a bidder’s card and number assigned to you. Once the auction begins simply raise your bidding card and make sure the auctioneer sees it. Once your initial bid is acknowledged, the auctioneer will come back to you if others bid higher. To continue bidding, either continue to raise your bidding card or nod your head. When you no longer want to bid shake your head “No” and the auctioneer will know you are through bidding. Don’t worry- if you scratch your nose, just don’t look at the auctioneer or his assistants. They should understand that you are not part of the bidding process!

Q. I have been to auctions where the auctioneer talked very fast. Will he do that at the real estate auction? I am afraid I will not understand.

A. The auctioneer's "chant" is a necessary part of traditional auctions because there are usually many items to sell in a short amount of time. In a real estate auction there is usually only one property for sale, or at most, a limited number of properties. The auctioneer in a real estate auction will speak quickly as dictated by the energy of the bidders, yet clearly for all interested bidders to hear and understand.

Q. What is meant by the phrase “Terms and Conditions”?

A. The terms and conditions are the printed rules of an auction and certain aspects of the Purchase & Sale Agreement. They spell out the specifics of a particular auction such as the amount of the buyer’s premium, and the time frame for the closing of the sale, as well as any other pertinent information that a bidder should know in order to properly and intelligently bid.

Q. Which is more effective: open public auction bidding or sealed bid auction?


A. Although both methods are effective, most real estate sold by the auction method is sold via the open public bidding forum. The open forum allows the bidding to become more competitive and it provides an element of theater and emotions. While sealed bid auction method is used for certain transactions, most auctions of real estate are accomplished by the more effective open public bidding.

Q. Can Real Estate Agents/Brokers Participate In The Auction Process?

A. Absolutely! Real estate agents and brokers may refer auction transactions to us. Our realtor participation program invites all agents/brokers to refer potential sellers as well as bring prospective buyers to our auction event, and allows them to earn commissions for doing so.