Auctions are time definite. When the auction sign goes up, it tells potential buyers that you’ve chosen how to sell your house and the day that it will sell. No more listing and waiting and hoping and praying. No more open houses where people stroll, chat, compare, and stare but never offer to buy.
When potential bidders show up for an auction, they’ve done their homework and registered to bid. They know that today the property will change hands, and they want those hands to be theirs.
The world is full of opportunities. Unless there’s a deadline, everyone has something else to do. An auction is the one real estate deadline buyers take seriously.