With so many multi-million dollar homes on the market, there is an incredible backlog of inventory. Selling through traditional real estate methods can take 2 or 3 years, possibly longer in this economy.
The most motivated sellers are turning to luxury real estate auctions as an efficient way of selling their homes and still obtaining current market value. Just like stocks and securities, your home is an asset with a market driven value. None of our properties are "given away"--that's a very common misconception. In fact, our listings truly are sold at a price that is accurate for the location, size, quality, and style of home. After the fact, many of our sellers have told us they wished that they had gone to auction much sooner instead of waiting months and months. Had they not waited a year or longer before turning to auction, they would have saved hundreds of thousands of dollars in carrying costs.
Like a fine art auction, a real estate auction puts your home, and only your home, in the spotlight while all the other homes sit on the market waiting patiently to be sold to the ONE buyer that eventually will come along--when that will happen is uncertain. In these current market conditions, that's like trying to find a needle in a haystack. Meanwhile, the seller that has chosen to sell at auction experiences interest in his home that he has not seen before. Thanks in part to an extensive marketing campaign blitz in the local, regional, and national media that generally lasts 4 to 6 weeks--specifically for his property and his property alone that generates many inquiries! All of the inquiries are sorted through and pre-qualified. Then all the interested parties are gathered together on one day and the house is sold! Buyers know that they must act now, for tomorrow will be too late.
The interest our sellers receive for their homes is truly remarkable. We only sell about two homes per month, and only choose to work with the best properties. Properties that we feel are the most marketable, which in turn creates the most interest. Because of this, we average over 200 inquiries, more than 90 actual previews, and 14 qualified bidders for EACH of our individual auctions.
Take a look at some of our recent success stories....
ASPEN, COLORADO: 27 bidders competed and the home sold for $7,041,250
MATINECOCK, NEW YORK: 22 bidders competed and the home sold for $6,000,000
If you are ready for us to hold an auction event for your home in Dallas, Fort Worth, Highland Park, University Park, Southlake, Colleyville, or Plano then please contact us so that we may evaluate your home and it's suitability for auction. As you know, time is costing you money!
Contact Pat Kirby at Grand Estates Auction Company at pat@grandestatesauction.com
Comments(0)