How To Auction Your Home


1. Request a Free, No-Obligation Comparable Market Analysis from one of our Agents Just click this link to start – Free CMA.

2. Have one of our Realtors agents explain all the advantages of an Auction versus a more traditional MLS Listing.

3. Sign a Listing Contract with us and you are ready to go.

  • The Listing Contract will contain two Addendums – Our “Traditional” MLS addendum and the Auction addendum.
  • The Traditional MLS addendum is what we use to list your house the old-fashioned way. It outlines everything that we normally do related to the MLS, showings, and commissions.
  • The Auction addendum will supersede the Traditional MLS addendum during the time period that we are
    running the Auction.
  • There are no seller side commission while under the Auction…the buyer pays everything except your upfront Auction Preparation Fee.
  • There are several optional considerations that you might want to make part of your auction. Choosing a pre-determined closing date or post-occupancy period; choosing which contingencies may or may not be allowed; and deciding if you just want to have Open Houses or allow private showings – or both.

4. Once you and our agent decide on the details, we will get all the property information and photos just like we normally do. Our agent will then put your property in MLS, but with a special designation as an “Auction.”

5. At that point, our Auctioneer will get notice that a new Auction has been put under contract. The Auctioneer and his/her Team will then prepare the Auction website, EasyHomeBidder.com, for your property.

6. Typically, an auction lasts just 10-14 days, but can be longer or shorter as decided by you and your agent.

7. Once the auction is under way, you will be able to watch the action in the same way that every bidder/buyer can. Keep in mind, most of the action happens on the last day, often in the last few hours.

8. Once the bidding period has closed, the bidders will be waiting for your decision as to whose bid you want to choose. Under Wisconsin “Auction With Reserve” law, you are not required to take the highest bid…or any bid at all for that matter. It makes this process a no risk proposition for you.

  • Let’s say the bidding does not escalate to a price level that you are satisfied with, you just let your agent know that you do not want to accept any of the bids. At this point, our Listing Contract with you defaults back to the Traditional MLS addendum. Together we look for the right Buyer and proceed in a more traditional way.
  • But let’s say that you do get bid(s) with an acceptable price. In this case we look at each bidder’s high bid, the PreApproval/Proof of Funds information they sent us, and decide from there which one you most prefer. It’s possible that the 2nd or 3rd highest bid might be really close to the highest bid but is paying cash instead of requesting a financing contingency. Wisconsin law allows you to choose whichever one is best for you.

9. So, let’s say you do choose one of the bidders to go with. At that point, our agent will draft the Offer to Purchase with the terms stated in the Auction. You and the Buyer will be asked to sign it, and the Buyer will be instructed to send their Earnest Money. We proceed from there as we would in any other real estate transaction.

HAPPY BIDDING!!!
Bob Tarantino, President/Auctioneer

Benefits for Sellers


1. Your property is in MLS in the same way it would be if you did a more traditional Listing.

  •  Always get the Fair Market Value – or more! Every interested buyer gets the same chance to place a bid and raise their bid  accordingly. If bidding is hot on your property, you might get much more than you thin
  • It only takes two bidders to run up the price. Our system is set up so that bidders can see the other bids, but do not know who the bidders are or how many bidders there are. The bidding wars can be quite exhilarating for everyone involved

2. Pay no commission at all. The Buyer pays everything except your upfront Auction Preparation Fee.
3. No private showings are necessary, but they can be done at your option.

  • Just maybe 2-3 Open Houses for a couple of hours each. Never get kicked out of your home on short notice again. You will always have time to make your home look its best.
  • Never worry if your home is ready for a Showing again. We will coordinate with you to give you as much advanced notice as possible for the Open Houses and run them when it is convenient for you.

4. Minimize contingencies in your Offers by stating up front what is acceptable to you.

  • Close on the sale on your predetermined closing date or leave it flexible. We will let the bidders know before they place a bid.
  • Need some post-closing occupancy? We will state that up front to the bidders.
  • Have a recent Home Inspection report? Maybe your home is in great shape. Either way, you can choose to not allow an Inspcetion Contingency.
  • We recommend allowing Financing and Appraisal Contigencies so that we don’t eliminate any potential Buyers. However, at our discretion, Buyers must send us a Pre-Approval Letter and/or Proof of Funds letter prior to being approved to bid.

5. When your auction closes, choose any bid you want. Wisconsin auction law allows you to do this. Perhaps, the 2nd or 3rd highest bid is really close, but that bidder is paying cash. You can go with that bidder if you choose. We will have every bidder’s financial qualification to share with you.

  • If the auction bidding does not reach a price that you are willing to accept, we can extend the bidding prior to the auction ending and give it more time. Or you can let the auction close and choose not to accept any of the bids at all.
  • If this becomes the case, we will keep you listed in MLS under our traditional program and commission structure that we agreed to up front with you.
  • Worst case scenario, you withdraw from MLS for a while and try again under better market conditions.

6. This is the easiest, most relaxing way that you will ever sell a property. Sit back and watch the bidding from anywhere you have internet access, keeping in mind that most bidding usually happens in the last few days, sometimes even the last few hours.

HAPPY BIDDING!!!
Bob Tarantino, President/Auctioneer