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

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 

 

Time Running Out to Conduct Year End Luxury Home 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…

Luxury Auctions Not Just for Homes

I still run across people every week that don't realize that luxury homes, like art or exotic cars are sold primarily at auction.  But what about other assets?  Did you realize that yachts and airplanes are also sold at auction? Perhaps not as often as high-end homes but still more often than one would think. It really doesn't matter what one is auctioning as the concept is the same.  That concept is to offer something…

What is the Best Time of Year to Conduct a Luxury Home 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 2018 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…

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

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…

Your non-Distressed Luxury Home Auctions Questions Answered

Is there a reserve?

What is the commission arrangement?

What percentage of asking price is typically achieved?

How is my current listing agent involved?

These are just a few of the more common questions I receive almost daily from sellers considering selling their luxury property via non-distressed auction.  These sellers are almost without exception experiencing similar situations which are that they do not have to sell, they have experienced a long listing, they may be downsizing or there may be health issues and they are closing a chapter of their life with the sale of their home being the only thing keeping them from doing so.

In addition to the questions I listed above, what questions do you have as a private seller or as an agent with a seller client who may be a good candidate for a high-end auction event?

I am happy to answer those questions.  Please reach out to me anytime.

Gary

404-784-5759

 

Quick Contact US
Contact Gary Gilbert for more information. 404-784-5759