Selling By Auction There's A New Way To Sell Real Estate

Working in the most competitive real estate market in the country has shown us the pitfalls associated with the current system, most importantly the frustration of silent bidding wars – where more than one buyer competes to purchase a home without knowing the amount of money other buyers are willing to pay. As a result, buyers are left in the dark to make one of the most important decisions of their lives. Sellers are often left wondering whether each buyer truly made their highest offer before bowing out of the process. In many cases, buyers don’t stay in the process long enough to make their highest offer as another buyer has made an offer that the selling agent doesn’t believe can be beaten or the frustration of bidding silently causes certain buyers to move on.

Selling your home by auction is a proven method that works in other competitive real estate markets such as Australia and the United Kingdom. The main benefit of auctions is the transparency of the offer prices and the certainty that the sale price of the home is maximized. Let’s take a look at some of the benefits in detail:

You Control The Terms

We provide all of the necessary information to homebuyers ahead of time so that they can make an offer on your home without variable conditions. For example, a home inspection by a professional and independent third-party company is conducted prior to listing your home and provided to each and every buyer who shows interest in making an offer (and they can also conduct their own inspection ahead of time), taking away the need for an inspection condition. For each sale, any conditions that may be applicable are consistent for all potential buyers, meaning the only variable is the price.

No Surprises

We complete the entire offer documentation ahead of time where you fill out your ideal closing date, the items included in the sale along with any exclusions. Each and every buyer has access to this information ahead of the auction date so they are aware of the details and the only part of the agreement that needs to be completed after the auction has completed is the buyer’s name and purchase price amount.

Efficient

When we list your home by auction, we keep the process to a tight schedule. When our auction sign goes up, it tells buyers how you’ve chosen to sell your home and the date it will sell. An auction date is a deadline that homebuyers take seriously.

Qualified & Motivated Buyers

When a buyer registers to participate in your home’s auction, they need to be verified and agree to a pre-authorized deposit amount on their credit card. This ensures that each and every buyer is taking the process very seriously.

Transparency

A buyer will feel more comfortable increasing their bid amount if they know that other potential buyers are actually bidding on the home but most importantly, if they know the prices these competing buyers are offering.

No Risk

Before the auction, you will determine your reserve price – the lowest price that you are willing to accept for your home. Therefore, if the highest offer doesn’t reach this price point, you are not obligated to sell your home.