10 Reasons to Sell Your Luxury Home at a Real Estate Auction

By
Industry Observer
https://activerain.com/droplet/4YTp

Thinking of selling your luxury home?

There are at least 10 reasons to sell your luxury home at a real estate auction.

And, NO!

Real estate auctions are NOT just for distressed properties.

Having sold luxury homes at auction, I can tell you from my personal experience, that selling these high-end homes at a real estate auction has proven to be the best method of selling these highly desirable homes.

Not only do they sell, in my experience, luxury homes sold at a real estate auction sell at the top market price, in the shortest time frame, and nets the seller more money in their pocket than any other method I've seen in my 45+ years of experience.

Selling a luxury home at a real estate auction is totally unlike selling in the traditional "list and sell" format, where ​you can wait months just to find a buyer; then wait months more for inspections, renegotiations, etc., etc., etc.

It could take up to 1 year to sell a luxury home using the traditional "list and sell" method. That's because, there's no sense of urgency that drives the buyer to act. This is the critical difference between selling a luxury home at a real estate auction, and trying to sell it using the traditional "list and sell" method.

In short, if you REALLY want to sell your luxury home, you should give serious consideration to selling it at a real estate auction.​

Watch this short video and I'll tell you the 10 reasons to sell your luxury home at a real estate auction, and the psychology behind these reasons.

If you'd like to know more about real estate auctions, send me an email, or leave a comment below.

I look forward to hearing from you.

Posted by

 

Ken Jones

Real Estate Broker, Appraiser, Advisor

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Topic:
Real Estate Sales and Marketing
Location:
New Jersey
Tags:
selling
luxury homes
seller
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auctions
real estate

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Rainmaker
210,423
Ronald Gombach
The Gombach Group - Morrisville, PA

Ken Jones — while I'm not a luxury home owner or prospective buyer, I did watch your video (parts of it 2x). Trying to understand. #5 stated auction buyers don't know what the seller will accept.  #11 bonus mentioned you market your auction homes and accept pre-auction offers. When you 'market' your auction property, no "reserve price" is mentioned?  No price of any sort? Does this mean it's possible to hold/attend an auction where no sale occurs because the higest bid is lower than what seller will accept? 

 

Jan 18, 2017 09:51 AM #1
Rainmaker
2,596,722
Kathleen Daniels
KD Realty - 408.972.1822 - San Jose, CA
San Jose Homes for Sale-Probate & Trust Specialist

Ken Jones We don't want lookers they want buyers ... I can understand how/why this benefits a seller of a luxury home.  

Jan 18, 2017 10:09 AM #2
Rainmaker
2,440,673
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Great post and video, Ken. Personally, I'd have liked to have seen those 10 reasons both in the body of the post and the video. There are people (like me) who are very "visual" vis-a-vis the written word and not such much with videos. I prefer to read than to watch... it gets into my brain better. So by doing both you capture people like me and those who prefer videos.

Jan 19, 2017 05:10 AM #3
Rainer
270,750
Ken Jones
Toms River, NJ

Nina Hollander I respect your view on this, since you (obviously) know how best your absorb information. And, I'm sorry that it's something that I failed to consider.

In all candor, my goal was to drive people to the video (for my own greedy purpose of getting a better YouTube rank for my videos ).

But, I will keep your comment in mind when I post a topic in the form of a list on AR in the future.

I truly appreciate you bringing this to my attention. Thank you.

Jan 19, 2017 05:18 AM #4
Rainmaker
2,440,673
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Ken Jones ~ hi Ken... it's just my weirdness... sort of like when I was in the corporate world... I prefered to see numbers instead of charts/graphs. I could absorb numbers better than pictures, unlike many others.

One reason I suggested you do both, is that I noticed that when I post my video testimonials, I get more traffic and comments to a post when I provide the video as well as a transcription of the comments made in the video.

Jan 19, 2017 05:47 AM #5
Rainer
257,779
Mick Michaud
Distinctly Texas Lifestyle Properties, LLC Office:682/498-3107 - Granbury, TX
Your Texas Lifestyle is Here!

Great post about auctions.  I've used bid sale to sell properties before.  

Feb 17, 2017 07:41 AM #6
Ambassador
3,440,820
Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams fox cities - Stevens Point, WI
Forestland Experts! 715-204-9671

Great video Ken, and well presented arguments for the Auction process.  I will share this with my Auctioneer friend Sterling Strathe.

Mar 13, 2017 06:08 AM #7
Ambassador
3,440,820
Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams fox cities - Stevens Point, WI
Forestland Experts! 715-204-9671

Btw, I agree with Nina Hollander , I like to see an outline or list to go along with the video.  I absorb instanly when I see it, yet it takes a while to sink in when I just hear.

But I do understand your reasoning and like to see my videos get lots of minutes of showing time on Youtube too.

Mar 13, 2017 06:12 AM #8
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