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

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Bogus Luxury Absolute Home Auctions and the No Sale Fee.

by Gary Gilbert
Gary Gilbert
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Sunday, 09 July 2017 Category Uncategorized

Well it seems like the latest bait and switch being used out there in our luxury home auction world is that of the absolute auction with the no sale fee.

The bogus absolute auction has been around forever in varying degrees.  The basic premise is that a luxury real estate auction company advertises the sale as "absolute" or "selling without reserve" only to cancel the auction a couple of days prior to the event should interest not be as strong as they promised.  Cancelling the auction is bad for a couple of reasons.  One, it never gives the auction a chance to work.  Two, it often ends up with litigation between a disgruntled buyer, the auction company and it's seller.

The new spin that you or you and your real estate agent need to be aware of is that in which the luxury home auction company wants you to agree to a no sale fee should the so-called absolute auction never be held and cancelled.  Beware of any firm that agrees to pay the upfront marketing costs for you only to be owed a no sale fee should the auction never occur.  In some cases, that no sale fee could be up to $200,000.

This is a lose-lose situation for everyone.  Don't be a victim whether you are a private seller or an agent representing an affluent client.

Questions?  I'm here to help.  Reach out anytime.

Gary Gilbert

404.784.5759

Tags: luxury home auctions, absolute home auctions, luxury real estate auctions

Downsizing Continues to be the Trend for Large Luxury Homes.

by Gary Gilbert
Gary Gilbert
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Sunday, 21 May 2017 Category Auction a Luxury Home

Just as I wrote about last year, downsizing continues to be the dominant trend in our business of luxury home auctions.  My upcoming auction event is for an 18,000 +-  square foot home.  My sellers, just like many others, are simply done with the upkeep and the huge amount of energy and money required to continue maintaining their property.  They have had the home listed for an extended period of time with no results and are simply ready to move on with their life.  I have heard recently more than once "We just use two or three of the rooms in the entire home"

Does this sound like your seller client or someone you know?  Are you or is your client non-distressed?  Have you had a long listing with no results?  Are you or is your client downsizing or are there health issues?  If so, you may be a good candidate for our program.

Take the first step by contacting me. I'm happy to guide you through the process of selecting the best luxury real estate auction company.

Gary Gilbert

404.784.5759

Tags: downsizing a luxury home, luxury home auctions, luxury real estate auctions

Spring Selling Season for Luxury Home Auctions is Here.

by Gary Gilbert
Gary Gilbert
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Tuesday, 09 February 2016 Category Uncategorized

As most of you know, my favorite season for the luxury home auction business is here.  Well, not technically, but based on our model of a 60-70 day advance marketing program, it is.  Those sellers and their agents that understand the power of a date-certain event are taking advantage of the April and May time period by scheduling their events for those months.

I am currently working with non-distressed sellers who have experienced long listings with both waterfront and city homes.  They, like all of the sellers I work with, do not have to sell.  They have experienced a lengthy listing and are downsizing.  They like the idea of using a date-certain event forcing affluent, end-user buyers to a point of action.

Does this sound like you or your client?  If so, let's have dialogue.  Reach out to me anytime with questions.

Gary

404-784-5759

 

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

Pre-Selling a Luxury Home Offered at Auction.

by Gary Gilbert
Gary Gilbert
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Friday, 22 January 2016 Category Uncategorized

Today, let's touch on the subject of the pre-sale as it relates to luxury home auctions.  Just like it sounds, a pre-sale occurs when a property offered at auction sells prior to it's scheduled auction.

So, why would this happen?  In most cases, it happens when someone who is very interested in a property offered at auction prefers to negotiate pre-auction instead of bidding at the auction itself.  In many cases, one does not want to get into a competitive bidding situation on sale day and has a personality that would rather purchase in a more traditional way.

The magic the auction method offers that the traditional method of sale does not is the date-certain event which forces buyers to a point of action.

So, how often does a property pre-sell?  In my many years of experience in the field, I would estimate that this happens about 10-15% of the time.

What other questions do you have regarding non-distressed luxury real estate auctions?  I'm happy to answer them for you.  Reach out anytime.

Gary

404.784.5759

Tags: pre selling a luxury home, luxury real estate auctions, luxury home auctions, pre selling a luxury home

April is a Favorite Month for Luxury Real Estate 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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Monday, 14 December 2015 Category Auction my Luxury Home

What is the best month of the year to conduct a non-distressed luxury home auction? In my last post, I wrote about Spring luxury home auctions.  A few of you have asked me what I feel is the best month of the year to conduct luxury real estate auctions.  It really depends on where one lives but generally speaking, I tend to favor the month of April.

In most regions of the US, April is a great weather month.  Things are greening up and the warm winds of Spring seem to put many in a good mood.

That being said, any of you considering a non-distressed high-end real estate auction event in April need to commit to such by the end of January or the first part of February.

Ready to get started?  Reach out to me anytime for expert advice.

Gary

404.784.5759

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

How Common are Luxury Real Estate Auctions? More Common than One Would Think.

by Gary Gilbert
Gary Gilbert
I have been involved in multi-millions of dollars worth of luxury real estate au
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Tuesday, 27 October 2015 Category Ranch Auctions

Even after doing this for many, many years, I am still surprised at the amount of people who are not aware of the luxury real estate auction concept.  Not surprisingly, many that hear the word auction still affiliate it with distress, fire sale or foreclosure.

When I run across someone that is not familiar with the non-distressed high end real estate auction concept, I often ask them to think about how an exotic, vintage car or a multi-million dollar piece of art is sold.  Do they list it at an inflated price, reduce the price over time and deal with contingencies from buyers?  No, they set a date, promote the sale and auction it to an affluent buyer in a cash, contingency-free manner.

So, how common are luxury home auctions here in the US?  Probably more common than one would think but still somewhat of a foreign concept to most.

Want to learn more?  I'm here to educate you.  Reach out anytime.

Gary

404-784-5759404-784-5759

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

What is the Best Time of 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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Sunday, 11 October 2015 Category Real Estate Auction

Well, here we are again knocking on the door of Thanksgiving then rolling right into Christmas.  A few of you have squeezed in a year-end auction event while the rest of you are now booking 2016 events.

So, what are the best times of the year to conduct a non-distressed premier home auction? It really depends on where your property is located.  If you are in South Florida or Southern California, any month is typically fine.  However, January seems to be one of the slowest months with the hangover from Christmas and New Year's lingering.

My two favorite months to conduct luxury real estate auctions are March and April. Things are greening up in most parts of the US, the weather is changing and important business decisions are being made.  Do the math and with a two to three month marketing campaign prior to an event, one needs to begin the dialogue regarding their event soon.

How does it all work for me the owner?  How am I as an agent involved?  Who is the best luxury real estate auction company for me?

I am happy to answer these and all other questions you may have.  Reach out to me anytime.

Gary

Tags: luxury real estate auctions X real estate auction companies, auction my luxury home, luxury home auctions, best time to auction luxury home

Extending a Luxury Home Auction due to Overwhelming Interest- I Don't Think So.

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, 23 August 2015 Category Luxury Real Estate Auction Companies

I guess if you've been in the luxury real estate auction business as long as I have, one would think one had seen it all.  However, I stand corrected.

It seems now that one of the bait and switch tactics being used out there today in the marketplace is to extend the auction's scheduled date due to overwhelming interest.  Really?  So you're telling me that there was so much response for a luxury home auction campaign that extra time is needed to accommodate extra potential bidders?  That is absurd and really just code for "the results weren't what we promised and we need extra time to try to salvage this deal"

If you or you and your client are considering a non-distressed high-end real estate auction, let's talk.  I can save you a lot of time and money by educating you on the process including how to avoid pitfalls like the above mentioned, the absolute auction that can be cancelled and other questionable tactics.

I'm happy to answer any questions you may have.  Just ask.

Gary

404.784.5759

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

Non-Distressed Luxury Home Auctions Gaining in Popularity.

by Gary Gilbert
Gary Gilbert
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Sunday, 16 August 2015 Category Luxury Real Estate Auction Companies

I have been doing this for a long time and can't remember a time when so many non-distressed luxury home auctions were taking place.  Are we here in the USA going the way of some countries where auction is the preferred way to sell real estate?  Probably not. However, the concept certainly is trending here.

Why is that?  I think a lot of it has to do with the fact that sellers are becoming more educated and aware of the benefits a high end real estate auction can offer them.  Benefits like selling for full market value in a 60 day window with a 30 day cash, contingency-free closing allowing them to close a certain chapter of their life, something the traditional method of sale has not been able to accomplish.

Would you like to learn more? Who is the best luxury real estate auction company for you or your seller?  Contact me anytime to learn more.

Gary

404-784-5759

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

So, is there a Reserve?

by Gary Gilbert
Gary Gilbert
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Sunday, 07 June 2015 Category Auction a Luxury Home

By far the most common question that I am asked initially when it comes to luxury real estate auctions is "Is there a reserve?"  Most people are not that familiar with auctions in general, especially auctions of high end properties which is somewhat of a niche market here in the US.  Of course the simple answer is yes, there are auctions with reserve as well as auctions without reserve or "absolute" auctions.

It is human nature that most people considering an auction of their personal residence would prefer to conduct an auction with reserve.  For more auction-savvy individuals, a no reserve or "absolute" auction may not seem as daunting as they understand the psychology of auctions and realize that a legitimate no reserve sale almost always generates better results.  Why do I use the word legitimate?  Because one needs to be very cautious when working with a firm who promotes every one of their auctions as "absolute" or "selling without reserve".  See more on this very, very important subject here.

So, how long has your luxury property been listed?  Are you downsizing?  Would you like to use a date-certain event to force affluent buyers to a point of action?  Have you ever considered a non-distressed auction event?  If so or if this is an entirely new concept to you, a good place to start would be here with me.  I am happy to advise you, steering you in the right direction.  Just ask.

Gary

404-784-5759

Tags: luxury home auction companies, luxury real estate auctions, luxury home auctions, absolute auctions, reserve auctions, reserve auctions

When it Rains it Pours. Buyers for Your Luxury Home and Auctions.

by Gary Gilbert
Gary Gilbert
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Monday, 25 May 2015 Category High End Home Auctions

You know the saying, when it rains, it pours?  Well it has been doing a lot of raining and pouring here in Austin lately which is good for our Lake Travis and other water bodies.  So, how am I going to tie this in to what I do and write about here?  I guess by using the when it rains it pours analogy as it relates to interest in the luxury home you or your client may be currently trying to sell.

As it stands now with the traditional method of sale, you or your and your client are utilizing all of the usual suspects for advertising- MLS, magazines, open houses, etc.  You are probably getting a sprinkling of interest here and there but not enough action to create any type of excitement.  With your home competing against all of the other homes out there for buyers' attention, it is easy to get lost in the mix.

With a luxury home auction, a downpour is certainly possible and common.  By using a date-certain event, affluent, end-user buyers are forced to react.  They know that if they are not there, prepared to bid on sale day, they may lose their opportunity forever.  Instead of a shower of interest here and there, an auction can create a downpour and sometimes even a flood depending on the property.

Sounds silly but it is true.  Want to learn more?  Contact me anytime with questions about the process including the ever-important decision on which luxury real estate auction companies have your or you and your client's best interest in mind.

Gary

404-784-5759

Tags: luxury real estate auction companies, luxury home auctions, auction a luxury lhome, lluxury real estate auction companies, auction a luxury lhome

I've Heard About non-Distressed Luxury Home Auctions. Tell Me More.

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, 02 May 2015 Category Sun Valley Real Estate Auction

Did you know that luxury homes, much like high-end art, are sometimes auctioned?  I'm not referring to foreclosures but instead a niche marketplace where the affluent elect to auction their property as an alternative to the traditional method of sale.

The typical client I work with considering such is not distressed, has little if any mortgage, has had an extended listing period with price reductions, and is ready to close a chapter of their life.  An auction, by using a date-certain event forces affluent buyers to a point of action by providing them something they understand- deadlines.

Think about it as it relates to the art world- how is a Dali or Picasso sold?  What about a rare Ferrari?

How does it all work?  Who is the best luxury real estate auction company?  Learn more by contacting me anytime to discuss.

Gary

Tags: luxury home auctions, auction a luxury home, luxury real estate auctions, high end home auctions, premier home auctions, sun valley home auction

Luxury Homes and Art Auctions

by Gary Gilbert
Gary Gilbert
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Wednesday, 08 April 2015 Category Auction a Luxury Home

I read recently here about an upcoming art auction for a Picasso piece.  The auction house mentioned that the valuation of about $140m would be one of the highest estimates ever put on a piece at auction.  So, why doesn't the owner just advertise the piece traditionally and sell it that way?  Because the owner knows that an auction will create the ultimate interest on behalf of international, affluent buyers forcing them to react on the seller's terms.  Egos and emotions will come into play and buyers will compete fiercely for the right of ownership paying top dollar.

Many people don't realize that the same auction concept works well with non-distressed sellers of high-end real estate.  While most properties are not valued in the $140m range, thousands and thousands of them are valued in the $2m - $20m plus range.  What better way to showcase one property than to use a date-certain event to force buyers to a point of action?

How does all of this work?  Who is the best luxury home auction company?  How is the commission structured?

How long has your luxury home been listed?  Are you ready to close this chapter of your life and move on? If so, I am happy to educate you on the process and answer all the question you may have.  Please reach out anytime.

Gary

404-784-5759

Tags: luxury real estate auction companies, luxury real estate auctions, luxury home auctions, art auctions

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

Luxury Home Auction Buzzwords Defined.

by Gary Gilbert
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Thursday, 12 September 2013 Category Luxury Property Auction

Sell and Close Your Luxury Home via a non-Distressed Auction by Year-End

by Gary Gilbert
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Tuesday, 03 September 2013 Category Premier Home Auctions

Approaching the Subject of a Luxury Home Auction with Client

by Gary Gilbert
Gary Gilbert
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Friday, 24 May 2013 Category Luxury Home Auction

A lot of you agents and brokers have been asking me lately my opinion on bringing up the idea of a luxury home auction with your client so let's tackle that question to close out the week.

First of all, I am happy that you are thinking "outside of the box" and trying to do something different for your client.  I realize that most of your clients may not be a candidate for something like a high end home auction but I think you would be surprised in the number that may be.

I see the initial mention of the subject going something like this:  "Mr. or Mrs Client, we have had your home listed for over a year now with no legitimate offers and have gone through a couple of price reductions.  I know that you don't have to sell and are not distressed but something we may want to consider is the possibility of conducting a premier home auction.  That event would force affluent, end-user buyers to a point of action by using a date-certain event to force them to react using leverage that we don't have over buyers at this point."

If there is interest at this point, I would be happy to jump on a call with you initially to explain the process in detail including the all too important financials and recommendation regarding the best luxury real estate auction company to work with.

My advice is complimentary and my experience in this field priceless.  Reach out anytime.

Gary

Tags: luxury home agents, luxury homes, luxury home auctions, high end home auction sellers, premier home auction sellers, top luxury real estate auction companies, luxury house auctions

Nick Saban Home Auction. Good enough for Nick, Good Enough for You or Your Client?

by Gary Gilbert
Gary Gilbert
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Thursday, 09 May 2013 Category Luxury House Auctions

Well, unless you're living under a rock somewhere here in the South and haven't heard about the University of Alabama's head football coach Nick Saban's luxury home auction, then let me be the first to tell you about it.  For the rest of you out there not living in the South who haven't heard, it has been a big story here in the last couple of days, especially in Alabama and Georgia, where a couple of his homes are located.  Did Nick act on my recent blog post "$ 1 Billion in Art Heading to Auction.  Why not Luxury Homes?" ?  Probably not, because I just composed that post this past weekend...

The point of my post was that when non-distressed, affluent sellers like Saban and those mentioned in the Wall Street Journal article linked in my post (Microsoft's Paul Allen and pop icon Madonna) understand that an auction creates a date-certain event which forces affluent, end-user buyers to a point of action, something that is just not possible with a traditional sale.

How many times have you heard me mention here the profile of our typical seller? Does this sound like Saban?

They are probably not distressed and don't have to sell.

They have had the property listed for an extended period of time probably with few legitimate offers that may have included contingencies.

They are selling because they are downsizing or just don't use the property as much as they once did.

They like the idea of taking control of the sales process by using a date-certain event to force credible buyers to a point of action utilizing a 30 day cash, contingency-free closing.

Does this sound like you or your client?  If so, I would be happy to discuss how a luxury home auction could allow you or your client to accomplish whatever it is you or they are trying to achieve.  Reach out anytime for my expert advice.

For any of you out there who would like to bid on Saban's Lake Burton home on June 6th, I would be happy to offer my complimentary bidder representation services.  Just ask.

Gary

http://www.realestateauctionoptions.com/

 

 

 

Tags: lake burton home auction, nick saban home auction, lake rabun home auction, luxury real estate auctions, luxury home auctions, luxury real estate auction companies, luxury homes, high end home auctions

$1 Billion in Art Heading to Auction. Why Not Luxury Homes?

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, 05 May 2013 Category Luxury Home Auction

Non-distressed sellers like Paul Allen and Madonna use the auction method to create urgency and excitement.  The same concept applies to luxury home auctions.

Tags: luxury home auctions, high end home auctions, premier home auctions, top luxury real estate auction companies, best luxury real estate auction companies, art auctions
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