Another way to determine if an auction method is for you is to use the two-thirds rule. If two of the three main components of a transaction (market, seller, property) lean favorably toward auction, then it should be offered as an option.

Market:

• Changing market
• Dull market
• Scarcity of particular property type
• Emerging or Down market

Seller:

• Needs cash — wants to liquidate — estate — financial problems
• Dissolution – break up of marriage or partnership
• Moving  — out of state/ vacant home

Property:

• Has equity
• Unique
• High carrying cost
• Vacant — vandalism/insurable?
• Difficult to appraise