Previously I explained about the new sales method available in San Diego through my company, Prudential California Realty….. real estate auctions. Today it’s time to give the sellers the benefits of using this technique.
- The seller sets the terms, conditions and deadline. Most sellers choose the Reserve Auction and set a reserve price.
- The auction-oriented intense marketing plan puts the spotlight on the homes for an extended period prior to the auction day.
- The property is neither over-priced or under sold; it’s value is determined by the market and the qualifed bidders.
- The “suggested opening bid” aspect will attract more interested, qualified, non-contingent buyers.
- A non-contingent buyer means the seller can proceed immediately with their goals.
- It allows the seller to plan ahead in the knowledge that a specific date has been set for the sale of their home.
- A sense of urgency is created by the set timeframe, bringing the buyers to a point of decision.
- The seller has the option to accept an offer prior to auction day.
- A successful purchase requires a deposit payment on auction day of 3% of the purchase price.
- If the property is “passed in”, it will be exposed on the open market as an exclusive listing at a saleable price established from the market feedback received throughout the auction process.
- On top of all of this, the level of service, commitment, marketing, and feedback by their certified aution specialist is second to none.
This is a great sales method that will appeal and work for many sellers. The motivation to sell is important as well as the willingness to try something new.