AuctionSellsFast-D1 Rev. Freddie Phillips, Pres., Auction Sells Fast, LLC
Alissa Phillips, Louisiana Licensed Real Estate Broker
8055 Hanks Drive, Baton Rouge, LA  70812-4122
225-358-4663 (Alissa Phillips)
225-229-3341 (Rev. Freddie Phillips)
225-201-0390 (Robert Burns, Lead Bid Assistant)
LA Auction License # 1662


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NO!  You can set a minimum price.  It's called a RESERVE.  If it isn't met, you are not obligated to sell.  The minimum is known ONLY to the auctioneer and the seller.  It's tantamount to the "bottom line" number on a "traditional" listing and therefore CANNOT be made known to the public (lest the fiduciary trust between selling client and broker-auctioneer be broken). 

If you wish to advertise the reserve (i.e. voluntarily make it known to the public), the auction is a MINIMUM BID auction.  If it's reasonable, it tends to attract a larger pool of bidders and thus enhance the results.  Bids begin at the published minimum.

You may also sell ABSOLUTE, which means you want the property sold to the highest bidder REGARDLESS of price

Absolute auctions always generate the maximum interest and, accordingly, result in the highest bid obtained simply because bidders KNOW the property is going to sell.  Hence, if you're certain you have no desire whatsoever to own the property beyond auction day and you have the ability to auction it absolute (i.e. either no debt or documented ability to cover any potential shortfall), you'll obtain the best results via an auction absolute.

Auction ads which do NOT contain the word "ABSOLUTE" in advertisements and promotions are understood to be reserve auctions!

What if my reserve isn't met?

We present the highest bid, which you can accept or counter.  If we can't strike an immediate sale via negotiation, we continue to market your property for 60 days.  In so doing, we can often, though certainly not always, facilitate a sale.


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