Why Is a Luxury Home Auction the Best Way to Sell My Real Estate?
The answer is in the question: What causes a buyer to make a buying decision when they see a property that has been languishing on the market?
It’s one of two things: A sense of urgency and/or a sense of value. How can you instantly create a sense of urgency or a sense of value? In one word: AUCTION. The word auction evokes another word in a consumer. That word is “DEAL” or “opportunity,” and that sends buyers running to find out what this is all about. Is this a deal? Is this my one opportunity?
It also creates a sense of urgency by having a set day and time when the property will be sold. It is the only time you will be able to buy that home. Creating a sense of urgency and a perceived opportunity forces buyers to come forth and make a decision, when they would otherwise continue to wait and see how long the property would sit on the market—or they continue to wait for future price reductions.
More and more luxury homes are being sold at auction. Why? Because a luxury home auction ensures that you receive true market value. In stark contrast to traditional real estate transactions, selling a luxury home at auction provides many benefits:
- More transparency, more liquidity, and serious buyers competing to purchase your home
- Prequalification of prospective buyers
- No lengthy negotiation process
- A SURE SALE date
- Less time WASTING ON THE MARKET
- No carrying costs such as taxes, interest, and maintenance
- Encourages competition to raise the price
- NON-REFUNDABLE DEPOSIT ONCE THE CONTRACT IS EXECUTED
- Worldwide marketing, advertising, and promotion to expose your property to every conceivable buyer in the market
- Bid live at the property, online, via proxy, via broker, or telephone
The Luxury Home Auction Process
The process of selling your luxury home at auction includes three main stages:
- Pre-Auction Marketing, Advertising, and Promotion: Market research is conducted from geographic and demographic resources to identify the target market for your luxury home auction. Premiere Estates Auction Company will mine through this data as well as its own extensive database for prospective buyers. The next step is promoting the luxury home auction through many different advertising channels, including newspapers, magazines, direct mail, live sign spinners, bootleg signs in the neighborhood and signs posted on-site, online listings, Google and Yahoo search, the MLS, Redfin, Zillow, and hundreds of other Web sites around the world.
- The Live Auction: A luxury home auction is exciting for both buyers and sellers. Buyers experience the thrill of trying to outbid one another, and sellers know their home will be bought that day by a prequalified buyer at the best price possible. Everyone wins. Each bid boosts the market value of the property and, in turn, inspires buyers to continue bidding.
- Post Auction to Closing: At the end of the auction the property is officially under contract the same day. Closing typically takes thirty days. Premiere Estates Auction Company manages every aspect of the follow-up and closing process, including coordinating the interactions and required paperwork between the buyer, seller, lender, and everyone else involved with the transaction.
Getting Started With a Luxury Home Auction
Selling your luxury home at auction is the easiest and most profitable way to sell real estate. In addition to eliminating the untold unscheduled showings and the emotional aspects that can interfere with negotiations, a luxury home auction actually gives you more control and enables your home to sell at fair market value to the highest bidder.
Learn more about the benefits and process of a luxury home auction by calling Premiere Estates at 877.337.8283 or emailing info@PremiereEstates.com. Visit Premiere Estates online at www.PremiereEstates.com.
