Would You Use an Auction Service to Sell Your House?

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Real Estate Agent with Prudential Calfornia Realty

Would this work in the San Diego real estate market?

How many of you have attended an auction of some sort? I attended one once as a research project for a buyer that wanted to bid on a home that had gone to auction. One thing I learned is to bring your patience and be quick on your feet. The pace of some of these auction is so feverish that if you leave to use the restroom or get a cup of coffee you just might miss out on bidding on the property you wanted to buy.

California, and it's current real estate market, are often at the forefront and test ground for many new and innovative marketing strategies so it's no surprise that San Diego will be the test site. I guess this is just another sign of how the economy and current housing market  inspires people to come up with new ways of doing things.

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Rainmaker
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Drick Ward Property Management / Broker Assoc
NEPTUNE REALTY - Virginia Beach, VA
"RealtorDrick" - Experienced Representation

Because buying a home is a more emotional process than bidding on a Star Wars collectible on eBay, I don't think the auction process is likely to yield much value for most buyers or sellers.  What it will do is bring out the bargain hunters who want to bid a dime on the dollar and it might be a good way to move distressed properties (albeit at distressed prices.)

Sep 24, 2010 07:34 AM #1
Rainmaker
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Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Krista,

Absolutely not...Auction on art and paintings is to get the most dollars for the object!  On a home it has a reverse meaning, something that has not been overcome!

Sep 24, 2010 07:49 AM #2
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Rainmaker
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Krista Lombardi

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