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…

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…

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 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…

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…
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