How to sell a house? Five reasons to auction it.

3. You watch potential buyers compete for your home

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    The Champ d'Or home in Hickory Creek, Texas, (shown here in this 2003 file photo) languished for years on the real estate market until it was auctioned last month and went under contract for an undisclosed sum.
    L.M. Otero/AP/File
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You’re tired of waiting for that call that says: Straighten up the living room and make the bed, the real estate agent is bringing someone over to look at the house. You’d like all the interested parties to show up on a specific day and compete. A potential buyer feels more confident about increasing his offer at a real estate auction, because he sees that other people want the property, too. After all, if the fellow on his right is trying to outbid him at $500,000, then he must not be crazy if he’s willing to bid $510,000. Auctions create competition, and that’s exciting for the buyer and profitable for the seller. 

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