As some residential listings linger, auctions are slowly becoming a mainstream way to sell in New York: Advocates say putting homes up for bid can be quicker and more transparent than traditional marketing.

Auctions are becoming a more popular way to sell real estate in New York, offering speed and transparency. Major brokerages have partnered with auction houses, and even smaller-scale brokerages are considering offering auctions as a tool for sellers. The practice of selling real estate through auctions has traditionally been associated with foreclosures and desperation, but it is now being used for non-distressed properties, including luxury homes. While auctions can result in lower sale prices, they can also generate buzz and attract buyers. [Extracted from the article]