So you want to sell? You pick an agent who markets the home, and if it sells, you pay the commission. You want to sell by auction? You pick the sell date, we auction it, and you pay NO commission. If we combine the two selling methods, how would that work? Generally, auctioneers and traditional brokers don’t play well together. Auctioneers get paid now, and traditional brokers have to wait months to get paid. So what about you? Which method is best? For years, Australian brokers have successfully combined the two selling methods into a 3 step system which gets the seller the highest price, in the seller’s time frame with the opportunity to pay $0 in commission.
It’s simple, but not easy. Step 1 is a traditional listing with a statement in the property description that says “THIS PROPERTY WILL BE SOLD AT AUCTION.” The “AUCTION” word gets lots of buyers looking at the property because they think they can get a deal. If they like the property, they make an offer right away because they don’t want to lose it at auction. If it sells during step 1, the seller pays a standard commission.
Step 2: If it fails to sell in step 1, the listing changes to an auction sale and is highly advertised to bring many buyers to the property for the auction at a specific date and time. The “reserve price” is set on auction day, and if it sells, the buyer pays a buyer’s premium and the seller pays $0 commission.
Step 3: If the listing fails to sell at auction, it reverts back to a traditional listing at an adjusted price. When it sells during step 3, the seller pays a standard commission.
That’s it! Until now, the traditional and auction methods have been totally separate. By combining them, you have a much better chance of selling quickly, in your time frame, with the least amount of inconvenience, and no commission. This system works best with higher end properties which are harder to price correctly. Simple, but not easy. Contact me to see if our “Unique Property Auctions” could work for you arn your family. When you understand how it works, I think you may be interested. This system also works well with for sale by owner properties.
Our inventory is low, indicating a seller’s market. Demand is strong, but we’re seeing numerous price reductions. If we are near the peak of the selling cycle, shouldn’t you know your options? To see if this is right for you contact me.