Frustrated with trying to figure out what to do about selling your luxury home? Nearly every luxury home owner eventually comes to this point, whether it be moving cities, upsizing or downsizing, or moving a second or third property. Selling your luxury home through a traditional real estate transaction can take up to five years in some cases, leaving you with carrying costs for an unpredictable time frame.

There are a number of problems that the traditional real estate sales process presents, especially in the high-end real estate market. Real estate auctions aim to fix many of those problems.

You don’t have to sell your luxury home the same way your grandparents did. Instead, seek alternatives, be open to innovative tactics, and seek opinions from professionals you know and trust. At Concierge, we always work with your local agent, so ask your listing agent if they think a real estate auction is a possibility for your property. Here are a few top reasons why real estate auctions work.

1. Time Certain Outcome: Our auction process is 60 days from the initial marketing push to closing, so you do not have to wait indefinitely for the right buyer.

2. Differentiate Your Property: Concierge Auctions devotes an entire marketing team and a dedicated project manager who is solely focused on your property for 4-6 weeks leading up to the auction. While similar properties in your market have one agent working on their behalf, we have a whole team conducting innovative online marketing and email campaigns alongside tried-and-true methods such as signs and print ads, and networking with all the top luxury agents in your market.

3. Buyers Compelled to Act Due to Urgency: Everyone has been a buyer at some point, and you know how buyers think. Especially in today’s market, buyers are waiting around – unsure of value and hesitant to make offers. An auction identifies all the potential buyers in the market, gathers them in one place, and brings the market price to the auction. So, buyers and sellers both get the best, fair market price.

4. Seller Controls Timing and Terms: A luxury real estate auction helps you take control in the process of selling your luxury home. By setting the auction date, buyers are forced to show up and bid if they want the house. If they don’t, they will miss out. Your home sells on the auction day of your choosing!

5. Sale Without Contingencies: In a traditional sale, a contract does not mean “sold” – far from it in many cases. After an offer is accepted, buyers typically have time to conduct inspections, gain mortgage approval, review appraisals, etc. With an auction, buyers are forced to do all their due diligence before the auction. When they bid and win on auction day, the sale is final, and you are done selling your luxury home.

6. Higher Net-Present-Value due to Shorter Sales Process: Carrying costs on a luxury property can be astronomical. In some cases, people spend hundreds of thousands — even millions — carrying a house they are not living in or even visiting. Shorten the sales process through an auction, and you will likely obtain a higher net present value than you would if you kept waiting around for an uncertain sale… at an uncertain time… for an uncertain price.

Tell us your thoughts on selling your luxury home or download our Guide to Selling Luxury Real Estate for more information.

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