Today I want to talk to you about real estate auctions. Is it an option that you want to pursue as a home seller? I will go over the pros and cons with you to help you decide.
In my opinion, an auction is not the best way to sell a house. The general consumer has the mindset that they are going to get a deal from a motivated seller by going to an auction. That means you are going to attract the investor crowd, which is the wrong crowd if you want to sell your home for top dollar.
“You do not want to attract the investor crowd if you are looking to sell your home for top dollar.”
If you list your home with a professional agent who can give it great exposure and market it effectively, you are getting a much larger buyer pool than just the people who show up on buyer days. I generally do not see auctions (or auction sites) sell homes for top dollar.
Over the last few years, we have seen a low inventory market and more multiple offer situations. With multiple offers, you can create an auction-like effect, but the price you get will generally be much higher.
To get top dollar for your home, exposure is key and an auction is not the way to do that.
If you have any questions for me in the meantime, please feel free to give us a call or send us an email. I look forward to hearing from you soon.
