What Does a Luxury Real Estate Auction Company Do?

When it comes time to buy or sell a home, it’s important to have a dedicated, knowledgeable team in your corner. That way, you can ensure a smooth, worry-free process and a desirable outcome.  

Whether you are buying or selling a home, a luxury real estate auction company should take care of the entire transaction for you, from beginning to end. Let’s take a closer look at what a luxury home auction firm does and what you can expect when working with Elite Auctions.

Perform a Walk-Through and Initial Consultation 

When you first decide to sell your home at auction, you’ll enjoy a walk-through and initial consultation. During this evaluation, auction representatives will strategize about the best ways to present the property given current market trends. Real estate markets are always changing, so a skilled luxury auction house should provide you with relevant and timely information to position your property effectively. 

During your consultation, you’ll also decide whether you want your auction to have a reserve (a minimum price that must be met for the sale to go through) or not. While sellers have the right to decide what type of auction meets their needs, auction company representatives can provide carefully calculated recommendations. 

Create a Marketing Strategy 

Effective marketing is key to generating interest before an auction. High-end real estate auction houses can create comprehensive marketing plans that combine digital marketing, photography and videography, print publication advertisements, social media, and custom websites. Auction representatives will also utilize their network of buyers and local real estate agents to employ traditional word-of-mouth marketing.  

While every property is unique, experienced auction agents know exactly what buyers respond to. They’ll combine marketing tactics that are proven to move luxury real estate with the specifics of your home to create a strategy that’s unique to your property yet has broad appeal. 

Work with Real Estate Agents 

When purchasing a home at auction, buyers have the choice to be represented by a traditional real estate agent. Auction representatives will provide agents with relevant information and work with them throughout the transaction process. 

Auction companies may also connect with local real estate agents to locate interested buyers in a given market. These connections allow them to tap into a pool of qualified buyers and create competition on auction day. Auction company representatives may also develop property information packets that include zoning details, floorplans, maps, and more that can be distributed by real estate agents to their clients. 

Provide Tours 

The value of many high-end properties is in the details. Therefore, while photos and videos can spur interest, there’s no substitute for seeing the property in person. And while auction firms don’t offer traditional open houses, many provide private tours to potential buyers prior to auction day. During these tours, representatives can answer questions about the property as well as the auction process. 

Facilitate Auction Day and Closing 

While auction day represents the culmination of all of the firm’s hard work, the attention to detail doesn’t stop there. Bidding assistants and auctioneers are on hand throughout the entire process to assist buyers and sellers as needed. Auction company representatives will help buyers place bids, draw up the final contract, and manage the financial elements of the deal. 

Buying or Selling a Luxury Home? Elite Auctions Can Help 

Whether you would like to buy or sell a luxury property, look to Elite Auctions for assistance. As a leading luxury auction firm, we’re dedicated to connecting buyers with their dream homes and helping sellers get the most value for their properties.

For more information about our services, contact us today!

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