After months of discussions with Candace Jackson, one of the nation’s top luxury real estate reporters, on Friday she published a feature article in the Wall Street Journal covering high end real estate auctions. I was excited to be involved in Candace’s quest to learn all about the auction process. Her in-depth research was impressive, and it was fun to join in spirited discussions with her and many of our broker partners and clients. Candace has covered several of our past property auctions, including a Kauai, Hawaii luxury home auction that sold last year, and we enjoy her industry expertise and educational reporting.
In Friday’s story Candace gets to the bottom of luxury real estate auctions. Most people who hear about property auctions automatically think “fire sale”. Buyers, sellers, and even agents and brokers are simply not attuned to the process for luxury homes. Many do not even consider the option, because they associate real estate auctions with distressed or foreclosed properties.
Well, we are here to tell you that property auctions are not just for distressed home owners. As we often say, most of our sellers are not “distressed”… they are simply “stressed”. They are frustrated with the uncertainties of the market and want to move on. They choose to stop asking buyers to pay the price that they wish their property was worth and instead take a proactive approach of allowing the buyers to name the value. We have successfully sold luxury homes for non-distressed home owners with properties ranging from $1 million to $20 million plus.
Interested in how we do it? See our Ultimate Guide to Selling Luxury Real Estate:
