An auction is a method of selling property to the highest bidder. This process is utilized for a variety of real estate transactions and can involve different bidding procedures. The property is ultimately sold to the highest bidder.
Marketability refers to the speed or ease with which a property can be sold at or near its market value. It encompasses the property’s expected appeal in the market.
A model unit is a representative home, apartment, or office space created to demonstrate the design, structure, and overall appearance of units within a development, primarily used as part of a sales or leasing campaign.
A nonexclusive listing allows multiple real estate agents to market a property simultaneously. This gives the property owner the flexibility to sell through any agent and pays commission only to the agent who successfully sells the property.
Staging refers to the process of preparing a residential property for sale through various means such as remodeling and interior decoration to enhance its marketability.
