There are more ways than ever before to sell your property. Options include traditional agent-assisted selling, owner financing, lease-to-own, auction, and even sell-by-owner. When considering the many ways to sell a property, it’s important to understand the relationship between the type of property and the selling method. For the vast majority of luxury homeowners, selling by auction is the only alternative worth considering. Here’s why.
Certain Selling Options Aren’t Suited for Luxury Homes
As previously mentioned, the property style should match the best method of selling. For example, sell-by-owner is best suited for homeowners who want to avoid paying commissions on lower-valued properties. These properties are often in a distressed condition or in less desirable neighborhoods where the owner is desperate to get out of the home. As such, the market for these houses are investors and others who want to get deals. These buyers typically intend to flip the property or to use it as an investment. As a rule, high-end homebuyers aren’t even looking at sell-by-owner properties. Similarly, while ordinary homes may be better suited for traditional agent-assisted selling, luxury properties require tailored methods that provide access to specific buyer pools.
Marketing to Your Demographic
When selling luxury homes, you want to market to the kind of buyers who recognize superior quality and are willing to pay top dollar for it. The way to reach that demographic is through luxury home auctions. Marketing to your target audience means selling your luxury home in a manner in which the demographic will understand. It also means selling and promoting your property in the right setting. Think about it – if you are interested in buying a new Mercedes Benz, you won’t visit a car lot full of used Volkswagens. Likewise, discerning luxury homebuyers don’t simply browse local real estate mailers. Instead, they seek out high-end properties at luxury home auctions.
More Benefits of Auctions Versus Traditional Selling
Selling your luxury home at an auction is significantly more beneficial when compared to traditional selling methods. Property auctions are advantageous to luxury homeowners in particular because they mesh with their lifestyle, needs, and wants.
Below are a few of the benefits you can enjoy when you opt for a luxury home auction:
When you choose to sell your property at a luxury home auction, you receive a dedicated representative to assist you throughout the entire process. This person will answer all your questions, coordinate all of the stages of the home auction, and even help organize your home for video and still image opportunities. The level of personal attention that you receive when you decide to use a luxury home auction is unsurpassed by any other alternative selling method.
You Control the Auction Date
When you sell your luxury home the traditional way, the buyer dictates the sale and closing date. However, if you opt for a property auction, you can select the exact date you would like to sell your home. Auctions allow you to set a date for a time that’s most convenient for you and your family – there’s no need to adjust your schedule. That way, you have more control over when the new owners take possession of your luxury home.
You Set the Terms
In a traditional sale, you have little to no control over the stipulations of the transaction. However, when you opt to sell your luxury home at auction, you can set the terms of the auction. This means that you can decide how much money potential buyers have to put up in order to bid. You can also choose when the purchaser has to make a payment on the property. Of course, your luxury home auction representative will guide you in your decision making, but in the end, you have the final say.
Auctions Eliminate Prolonged Negotiations
Have you ever tried to sell a property only to be held hostage while the buyer ruminates on their next move? If so, you’ll appreciate the immediacy of a luxury home auction. Selling your home at an auction eliminates the prolonged negotiations that exist in traditional home selling. When you sell your luxury home at auction, you sell as is, the bidders bid against one another, and the buyer who offers the highest price wins. There’s no room for negotiation or any other haggling that buyers often try with traditional home sales.
Are you ready to consider the option of selling a luxury home at auction? If so, Elite Auctions can help. Contact us today to discuss your options with one of our professional representatives. We look forward to speaking with you!