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

Passing on Luxury Home Auction Sellers who are not Ready.

By Gary Gilbert on
Gary Gilbert
I have been involved in multi-millions of dollars worth of luxury real estate au
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May 22 in Auction a Luxury Home

So you've heard all about how a non-distressed luxury home auction may be a good fit for you or your client. You or your client meets all of the criteria I often discuss (non-distressed, may be downsizing, probably has experienced a lengthy listing).  But how good of a candidate are you or are you and your seller really?

It all comes down to how realistic one is regarding the true value of their luxury home they are considering auctioning.  The reason that something is not selling almost always comes back to price.  For example, if you or your client have had your property  listed for at least one year at $2.9m and your reserve price at auction has to be $2.4m, I can't help you.  No one can help you.  Back in 2007 when things were artificially booming, perhaps, but today no way.

In many cases, it is best for all parties to simply continue to market the home traditionally while the seller becomes more realistic on the true value of their home.  Many times, I will have clients come back to after a year who have gone through the process of price reductions only to still be stuck with the home they are trying to sell so they can close this chapter of their life cutting the anchor of never-ending maintenance and expenses.

Are you or are you and your client ready and realistic to chat regarding a possible luxury real estate auction?  If so, reach out to learn more.

Gary Gilbert

404-784-5759

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

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