"Auctions really only work when there is a competitive environment.... After-all why buy under auction conditions when you can let it get passed in then negotiate after the fact under normal sale conditions."
The problem with the above is that sellers expectations remain strong and they are not prepared to lower their selling price and the house will get passed in at auction. Problem with selling by negotiation is that the unrealistic expectations again previal.
Then there is the issue of real estage agents claiming that they have received an offer $x dollars and rejecting your offer... you then discover a month of 2 later the property sold for $30-$40k less than what they claimed was offered. (I think i should be nicer to such agents so that they offer the property to me when the "genuine bidder has bought an alternate property or was unabel to get finance approved"....)
Does anyone have access to stats that show how long properties are being listed prior to sale?
