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How auctions get lower prices
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3. REPELS BUYERS
Research shows that more than 90 percent of buyers do NOT like auctions. It makes no sense to use a system of selling disliked by most of the buyers.
You can only get the highest price if all the buyers who may be interested in a home are given the chance to buy the home. As auctions repel so many buyers, the highest paying buyers often avoid auctions.
And this is how auctions get lower prices.
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