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Real Estate Auction Options Principal Gary Gilbert discusses luxury real estate auctions for both sellers and purchasers.

Blog entries categorized under Luxury Property Auction

Time Running Out to Conduct Year End Luxury Home Auction.

by Gary Gilbert
Gary Gilbert
I have been involved in multi-millions of dollars worth of luxury real estate au
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Saturday, 12 September 2015 Category Luxury Property Auction

Well, summer has come and gone but the selling season for luxury homes in most markets here in the US has a little life left.  Since I write here regarding non-distressed higher-end home auctions, let's focus on that market's season specifically.

A typical campaign to market a home including showings and other due diligence takes anywhere from 60-70 days.  Do the math and you will see that auctions are currently being booked for mid-November.  With Thanksgiving in late November and Christmas just around the corner from then, I recommend that the latest anyone conduct an auction is somewhere around a week prior to Thanksgiving.

That being said, if you would like to use a date-certain event to force affluent buyers to a point of action and want to close before year-end, I recommend that you contact me as soon as possible to discuss your options as they relate to the luxury real estate auction world and the luxury real estate auction companies competing for your business.

Gary

404-784-5759

Tags: best time for luxury home auctions, luxury real estate auction companies, auction a luxury home, best time for luxury home auctions

Two Identical Luxury Home Listings, Two Very Different Results. Auction vs. Traditional

by Gary Gilbert
Gary Gilbert
I have been involved in multi-millions of dollars worth of luxury real estate au
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Sunday, 02 August 2015 Category Luxury Property Auction

I can't tell you how many times I have been asked by a luxury home seller "We have done all of the same advertising that you are proposing, Wall Street Journal, etc.  What makes your program different?" The answer is simple- the date.  By using a date-certain event, affluent, end-user buyers are much more likely to engage in the process because they now have a deadline, something they do not have in a traditional listing.  With a traditional listing, there is no end date or deadline that forces these buyers to a point of action.

Put your buyer's hat on.  What would make you react? You, like most of our buyers and sellers are probably a successful, busy person who understands deadlines.

Do you want to learn more about the non-distressed luxury home auction process?  I am happy to help.  Reach out to me anytime to discuss this or any topic related to high-end real estate auctions.

Gary

404.784.5759

Tags: high end home auctions, luxury real estate auction companies, luxury real estate auctions, luxury home auctions

Luxury Real Estate Auctions and Goodwill

by Gary Gilbert
Gary Gilbert
I have been involved in multi-millions of dollars worth of luxury real estate au
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Monday, 20 April 2015 Category Luxury Property Auction

Today, let's talk about what my local Goodwill and luxury home auctions have in common.  Sounds impossible that the two could be linked but I think I have found a way.

I've notice that many of the Goodwill retail stores here in Austin hold an auction every Saturday.  They have a special section of the store reserved for the items they will be auctioning and allow people to leave bids days prior or to bid live at 1:00.  The items they auction are noticeably the better items they receive from donations such as flat screen televisions, nice furniture and collectibles.  In my spare time, I enjoy buying items at auction to resell and was excited to see what I thought was an opportunity the first time I went to one of the Goodwill auctions.  However, after attending two or three of these events, I quickly realized that there were no deals to be had here.  People were paying retail and beyond prices for items just because they being auctioned.  Much like a high end home auction, bidders often think they will obtain a real deal, but rarely do.  Have you ever heard someone say "I paid too much for something at an auction".  "I got caught up in the excitement".

In addition, many of you know that I am a real advocate of the live, outcry auction.  Bidders are more likely to get caught up in the emotional elements of an auction when they are live, onsite competing with other ego bidders.  I'm all for accommodating someone to bid via phone or internet but only if there is no way that they can be there in person and they are a legitimate bidder.  That being said, I've noticed that rarely, if ever, does the person who left a bid at Goodwill and is not in attendance wins the item.

So, how long has your home been listed?  How many price reductions have there been? Would you like to use my Goodwill analogy to force affluent buyers to a point of action by using a date-certain event non-distressed auction?  Who is the best luxury real estate auction company?

Let's have a dialogue.  I am happy to educate and advise you.  Contact me anytime.

Gary

404-784-5759

Tags: luxury real estate auction companies, premier home auctions, luxury home auction companies, live luxury home auctions, live luxury home auctions

Making the Decision on Who is and Who is not a Good Candidate for a Luxury Real Estate Auction

by Gary Gilbert
Gary Gilbert
I have been involved in multi-millions of dollars worth of luxury real estate au
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Friday, 06 March 2015 Category Luxury Property Auction

One of the big decisions I make on a weekly basis is whether or not to recommend that a seller move forward with a non-distressed luxury home auction.  Who is a good candidate?  Who is not?

A good candidate is someone that has had their property listed for an extended period of time.  They have experienced several price reductions.  They are ready to close a chapter of their life and are motivated and ready to move on via a date-certain event.  They are realistic on true, fair market value for their property.  Of course, it must be the right property as well.

A non-candidate has also probably experienced the same as mentioned above but is not realistic on true, fair market value.  Believe it or not, I still talk with sellers who are still living in a 2008 world regarding pricing.  I tell them that just because you spent an extra $1mm on the custom upgrades, those upgrades may mean nothing to a new buyer.

I would rather act in my seller's best interest by passing on the deal rather than having them fund an advertising campaign only to have the home not sell at auction.  Sadly, there are firms out there whose model is to take everything they can to market, knowing that they may sell (and close) say 4 out of 10 leaving the other 6 sellers out to try right back where they started less a big chunk of change they fronted to market the event.

No one is perfect and can predict the outcome at auction, but I would rather be safe than sorry.

Let's discuss this and any other topics you want to learn about regarding the non-distressed luxury home auction option.  Reach out to me anytime before you sign a contract with anyone.  It could be the best decision you make this year.

Gary

Tags: luxury real estate auction companies, high end real estate auctions, auction a mansion, auction my luxury home

Spring is One of the Best Times of the Year to Conduct a Luxury Home Auction

by Gary Gilbert
Gary Gilbert
I have been involved in multi-millions of dollars worth of luxury real estate au
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Thursday, 05 February 2015 Category Luxury Property Auction

Well, Spring will be here before we know it.  Is your luxury home still for sale?  If so, let's don't miss out on one of the best times of the year to conduct a non-distressed high end home auction event.

Of course, I bet your realtor is probably telling you the same thing but how many other similar homes are competing for buyers in your market place?  With an auction, all of the interest will be focused on your event until it is done.  A premier home auction event will often freeze the local marketplace.  Put on your buyer's hat.  Why would you buy something traditionally when you could wait until the auction an maybe buy something similar or even better at the auction for a better price?  Of course in reality, you may end up paying more due to the phenomenon of getting caught up in the moment of an auction...

Don't be lured into waiting out the peak selling season or incurring another price reduction.  Take control of the sales process and put yourself in control of your destiny, not buyers.  Close that chapter in your life by using a date-certain event forcing affluent buyers to a point of action.

Contact me anytime to discuss the mechanics and financials of our method including the best luxury real estate auction company for you.

Gary

404-784-5759

Tags: luxury home auctions, auction a luxury home, high end home auction, mansion auction, premier home auction

Will Your Home be Sold and Closed by Year End?

by Gary Gilbert
Gary Gilbert
I have been involved in multi-millions of dollars worth of luxury real estate au
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Monday, 22 December 2014 Category Luxury Property Auction

Well, we're down to our last few days of 2014.  So, did you sell and close that luxury home yet?  For those of you that did, congratulations.  For those of you that did not, what is your plan for 2015?

Are you going to reduce the price (again)?  Are you going to change listing agents?  While that may work in time, how important is time to you?  Are you downsizing, moving closer to family or are there health issues?

Why don't we work together by conducting a non-distressed high-end real estate auction event?  How does a 60 day marketing campaign with a 30 day close sound?  Wouldn't it be nice to have a date-certain event so that you could plan, with certainty, the next chapter of your life?

What is your New Year's resolution?  To have that big home sold and closed?  Let's make that happen sooner than later.  Contact me anytime to discuss this option.

I hope everyone has a great Holiday.

Gary

Tags: sell a high end home, auction a luxury home, sell a luxury home

I'm Thinking About Auctioning my Premier Home.

by Gary Gilbert
Gary Gilbert
I have been involved in multi-millions of dollars worth of luxury real estate au
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Wednesday, 16 July 2014 Category Luxury Property Auction

So a luxury property auction is something you are considering?  I'm sure you have questions like:

Can I place a reserve or does it have to sell regardless of price?

How is the commission structured?

Who is the best luxury home auction company?

These are the top three questions I field from prospective non-distressed sellers on a weekly basis.  Whether you are an agent with a client considering an auction or a private seller seeking professional guidance, look no further.  I am happy to offer expert advice, just ask.  Contact me anytime with your questions.  My advice is priceless and my experience in this field is second to none.

Gary

Tags: luxury home auction, luxury real estate auction company, high end home auction, luxury home auction companies, high end house auction, luxury house auction, luxury home auctioneer

Two Most Important Decisions Regarding a Luxury Home Auction.

by Gary Gilbert
Gary Gilbert
I have been involved in multi-millions of dollars worth of luxury real estate au
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Sunday, 04 May 2014 Category Luxury Property Auction

So, you've decided that a non-distressed luxury home auction may be for you or for you and your client. What do you think the two most important decisions you will make are?

First and foremost, the luxury real estate auction company you decide to use is, in my opinion, the most important decision.  Are you going to go with the firm that seems to be the best via a simple online search or are you really going to dig into the selection process?  Who is legitimate and ethical and who is not?  I'm here to help with that- just ask.

Second, the manner in which you decide to offer the property is critical to the success of your event.  Should you conduct a "straight" or unpublished reserve, a published minimum bid or a legitimate absolute auction?  It really depends on you, your auction savyness, and the auction company handling the event.

Reach out to me anytime to discuss these or any other topics related to non-distressed higher end home auctions.  My services are complimentary and my advice priceless.

Gary

Tags: uxury home auctioneer, luxury house auction, high end house auction, luxury home auction companies, high end home auction, luxury real estate auction company, luxury home auction

Drones and Luxury Home Marketing

by Gary Gilbert
Gary Gilbert
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Sunday, 16 February 2014 Category Luxury Property Auction

Luxury Home Auction but I Don't Want to "Give it Away"

by Gary Gilbert
Gary Gilbert
I have been involved in multi-millions of dollars worth of luxury real estate au
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Monday, 06 January 2014 Category Luxury Property Auction

Could a Luxury Real Estate Auction be the Solution?

by Gary Gilbert
Gary Gilbert
I have been involved in multi-millions of dollars worth of luxury real estate au
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Sunday, 03 November 2013 Category Luxury Property Auction

Luxury Home Auction Buzzwords Defined.

by Gary Gilbert
Gary Gilbert
I have been involved in multi-millions of dollars worth of luxury real estate au
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Thursday, 12 September 2013 Category Luxury Property Auction

Luxury Home Auctions Excel in Hot Markets Too/Million Dollar Listing Los Angeles

by Gary Gilbert
Gary Gilbert
I have been involved in multi-millions of dollars worth of luxury real estate au
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Thursday, 15 August 2013 Category Luxury Property Auction

I Like the Idea of a Luxury Home Auction but

by Gary Gilbert
Gary Gilbert
I have been involved in multi-millions of dollars worth of luxury real estate au
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Friday, 15 February 2013 Category Luxury Property Auction

Let's close out the week by discussing a concern I hear every week from non-distressed clients considering a luxury home auction.  That concern is, "I like the idea of a high end home auction but I don't want to give it away".  For someone not in my business, this sounds like a legitimate concern but for someone like myself who sees these type of events play out successfully week after week, it is really a non-issue.

To be fair, I always try to put on my seller's hat and view their decision through their eyes.  If I knew nothing about luxury real estate auctions and only associated the word "auction" with distress, I too would probably have reservations.  However, this should be a non-concern should the seller be what I like to call the "right seller" with the "right property".

That seller is probably not distressed and doesn't have to sell.  There may even be little or no debt on the property.  They are trying to sell so that they can close a chapter of their life and move on.  Most importantly, they are realistic on the true value of the property.

A good auction event conducted with the right auction firm and sold to an affluent, end-user buyer will produce every dollar that the home is worth and not a "giveaway" price.

Are you or is your client interested in learning more? Please contact me for expert, complimentary advice regarding this topic or any other auction topics.

Gary

www.realestateauctionoptions.com

Tags: luxury property at auction, luxury real estate auction, luxury real estate auctions, luxury property auction, luxury property auctions, luxury real estate auction company, luxury real estate auction companies, luxury property auction company, luxury property auction companies, luxury home auction company, top luxury real estate auction companies, high end real estate auctions, best luxury real estate auction companies, exclusive property auction companies, luxury home auction companies, luxury estate auctions, luxury real estate auction sites

I Paid More than I Should Have at an Auction.

by Gary Gilbert
Gary Gilbert
I have been involved in multi-millions of dollars worth of luxury real estate au
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Wednesday, 23 January 2013 Category Luxury Property Auction

Should I Recommend my Client Consider a Luxury Home Auction?

by Gary Gilbert
Gary Gilbert
I have been involved in multi-millions of dollars worth of luxury real estate au
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Friday, 18 January 2013 Category Luxury Property Auction

I have noticed a definite uptick of late in the number of agents that are seeking my advice regarding high end home auctions.  Whether they are bringing it up with their client or their client has asked them to investigate, the numbers are certainly up.

Is a non-distressed auction the solution for every seller?  No.  However, it can be for many.  Does this sound like your seller?

Not distressed, doesn't have to sell?

Has had the property listed for an extended period of time?

Is trying to close a chapter of their life such as downsizing, moving, retiring with the luxury home being the one thing that is keeping them from accomplishing such?

If so, let's talk.  Let us do the homework for you providing complimentary advice regarding luxury real estate auction companies including agent compensation.

Tags: home auctions, luxury estate auctions, luxury home auction companies, luxury real estate auction companies, best luxury real estate auction companies, high end real estate auctions, top luxury real estate auction companies, luxury home auction company, luxury property auction companies, luxury property auction company, luxury real estate auction company, luxury property auctions, luxury property auction, luxury real estate auctions, luxury real estate auction, exclusive property auction companies, luxury property at auction

Happy Holidays from Real Estate Auction Options

by Gary Gilbert
Gary Gilbert
I have been involved in multi-millions of dollars worth of luxury real estate au
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Monday, 24 December 2012 Category Luxury Property Auction

The Right Properties with the Right Sellers Equals Great Auction Candidates

by Gary Gilbert
Gary Gilbert
I have been involved in multi-millions of dollars worth of luxury real estate au
User is currently offline
Thursday, 20 December 2012 Category Luxury Property Auction

I attended a higher-end ranch auction yesterday that proved once again that with the right seller with right property equals a great auction candidate.  So, what do I mean by the right seller with the right property?  Obviously, the right property is one that has desirability with amenities like waterfront, views and the ever most important one, location.  The right seller may need a bit more explanation.

The right seller is someone who is realistic on the true value of their property.  They are not hung up on comps and appraisals.  They understand that just because they made certain improvements that are important to them, may not be important to new buyers.  They understand that if they hire the best luxury real estate auction company, the market will respond and that affluent, end-user buyers will determine exactly what the true, fair market value is. They more than likely don't have to sell and are not distressed but are simply making some changes in their life like downsizing, moving, retiring, allocating assets or there may be health issues.

Are you an agent with the right seller for a luxury real estate auction?  Are you an owner who is ready to take control of the sales process?  If so, let's open the dialogue about your next step and how an auction may play into that step.  My advice is complimentary and my experience priceless.  Please reach out anytime.

Tags: luxury home auction sellers, luxury real estate auction sellers, luxury property auction sellers, luxury ranch auction sellers, luxury real estate auctions, high end real estate auctions

The Prospect of a Deal Brings Out Buyers Every Time

by Gary Gilbert
Gary Gilbert
I have been involved in multi-millions of dollars worth of luxury real estate au
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Wednesday, 28 November 2012 Category Luxury Property Auction

Earlier this week I wrote about the similarities between luxury home auctions and Black Friday/Cyber Monday with the concept that the prospect of a deal can force a buyers to sometimes do interesting things.  Those things may include camping out at a retail location or paying more than one was planning to at an auction.

Last night, I witnessed this same phenomenon at a very interesting, very low-end auction.  Four different sellers offered their items at auction which ranged from bags of beef jerky to used children's toys.  Many of these sellers had purchased bulk amounts of these items and sold the initial lot to the high bidder (who thought they were getting a real deal).  After that, the auctioneer announced that the seller had suddenly found more of the same items and asked if any bidders wanted the same item at the same "great" price.  Others, not wanted to feel like they too missed out an a deal, took an item as well until all of the seller's inventory was sold.  These same items could probably be purchased at the same or better price at a place like Wal-Mart but when caught up in the frenzy of bidding, often bidders don't think about things like such.

From a low-end auction like this to a high-end luxury real estate auction, the concept can be the same as can the results. There is a lot of psychology involved in auctions, something that we would be happy to educate you on.  Don't think that high end property auctions are cookie cutter events, they are not.  And don't think that all luxury real estate auction firms are the same as they too are not.

We are here to help should you be considering a premiere real estate auction.  Take control of the sales process by contacting us anytime for complimentary, expert advice.

Tags: luxury real estate auction deals, luxury real estate auction companies, luxury property auctions, luxury real estate auctions, exclusive property auction companies, best luxury real estate auction companies, top luxury real estate auction companies

Black Friday, Cyber Monday and Luxury Home Auctions

by Gary Gilbert
Gary Gilbert
I have been involved in multi-millions of dollars worth of luxury real estate au
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Sunday, 25 November 2012 Category Luxury Property Auction

I hope everyone had a nice Thanksgiving holiday.  Next stop- Christmas.  Today I want to talk about the similarities between auctions and what we all witnessed last week with Black Friday and will witness tomorrow with Cyber Monday.  Unless you were hiding under a rock somewhere, you probably couldn't help but hear all of the media coverage surrounding the frenzy of shoppers.  You may have even experienced the phenomenon yourself.  I took one look at the two Wal-Mart parking lots in my area as well as my K'Mart and decided I would be better off purchasing from the comfort of my office computer.

So, what does all of this have to do with luxury real estate auctions?  The common bond is the mechanism that forces  buyers to do something they wouldn't normally do (like camping out and/or standing in line hours or even days before a store opens).  That mechanism is the possibility in their mind of getting a "deal" and losing an opportunity to purchase something at a discount.  While the difference being that the retail consumer knows what the fixed price will be, the bidders at something like a luxury home auction do not have a fixed price to choose from.  However, the date-certain event and fear of loss, just like the pre-Black Friday and pre-Cyber Monday events use, are the catalysts that force them to react or miss out.  Another difference is that those lucky (or crazy) enough to buy their retail item early in a retail location does get a "deal".  With a premiere home auction, more often than not, the buyer, thinking they will get a "deal" does not but instead pays a higher price due to the competition he or she may have from other affluent, end-user buyers. Have you ever paid more for something than you should have at an antique, art or collectible car auction?  If so, you know how easy it is to get caught up in the frenzy when you see something you really want.

How long has your home been on the market?  Would you like to take control of the sales process and crate your own Black Friday or Cyber Monday frenzy in your living room?  If so, we are here to help.  Our advisory services are complimentary and our advice priceless.  Please contact us anytime to discuss the non-distressed auction method, your property, and the luxury real estate auction companies competing for your business.

Tags: black friday auctions, cyber monday auctions, top luxury real estate auction companies, high end real estate auctions, best luxury real estate auction companies, luxury property auctions, luxury real estate auction companies, luxury home auctions
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