Auction Services

There are several types of real estate auctions, each with its own structure and rules. Here’s a breakdown of the most common types.

1. Absolute Auction ( no reserve )

Description : Property sold to the highest bidder regardless of price

Best For: Sellers who want a guaranteed sale

Pros: Attracts more bidders due to certainty of sale

2. Reserve Auction

Description: Seller sets a minimum price ( reserve ). The property won’t sell unless the bidding meets or exceeds this amount

Best for: Sellers who want to protect a minimum value

Pros: Offers sellers more control over final sales price

3. Minimum Bid Auction

Description: Starts at a pre-determined minimum price. Bidding must begin at or above this amount

Best For: Sellers who want to attract serious buyers while setting a clear price floor

Pros: Reduces risk of underselling

4. Online Auction

Description: Bidding is done through an online platform, either timed or real time

Best For: Broad reach and convenience

Pros: Increased participation from remote buyers

5.Live Auction

Description: Traditional in-person auction with fast paced bidding process

Best For: Creating excitement and competitive bidding

Pros: Immediate results and transparency

Owner and ELS will meet with the auctioneer to discuss which option fits the owners needs and to set price on the real estate plus discuss the buyers premium to be charged to the winning bidder. Most if not all owner fees to the auction house and realtor fees come out of the buyers premium so the owner has no real out of pocket expenses.

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We want to ease your burden, not complicate your situation.

2815 Taylorsville Rd, Louisville, KY 40205

(502)939-2180

Louisville’s most trusted partner in top-to-bottom estate liquidation.

About ELS

We are an Equal Opportunity Employer and support the Fair Housing Act and equal opportunity housing. Each RE/MAX office is independently owned and operated.