It is always a difficult decision to decide to sell a property, especially with luxury real estate. Once you make the decision to sell, most people have several goals in mind.

As a seller you want to get maximum value for your property. You don’t want to spend too much of your own time in doing that. And you certainly don’t want to wait years for the property to sell. The goal of savvy sellers is to liquidate an asset at the highest rate possible and to do it quickly. The following is out top three reasons that an auction is the best way to accomplish those goals.

1. Differentiate Property

An auction creates separation for your property from competing sellers, no matter what type of property you have. Firstly, the marketing, public relations, and sales efforts will get the opportunity out in the market and make potential buyers aware. Along with increased awareness, auctions separate your property from all others by the fact that an auction shows buyers in that price range that you are serious, and that their offers are not going to fly by the wayside. A serious buyer can register to bid and know that if they have the highest bid the home will be their’s, with not post auction negotiations.

2. True Market Value

An auction is the best and most efficient way to get true market value for a high-end property. As a seller, you have the ability to set a reserve if that is appropriate, so that you know the opening bid and the minimum price that you will receive for your property. If the market is strong and demand for your home is high, then you can also go the the route of without reserve, meaning that your property will sell to the highest bidder on auction day. Either way you will gather all the bidders in one room and see the market working right in front of you. Transparency of the auction process encourages buyers to bid, as does the urgency presented with the auction. Anyone that is interested in the property and qualified has the ability to participate in the auction, so you know you are getting the market value on that day.

3. Controlled Timing

Want to sell your luxury home on your own timetable? With an auction you choose the exact date that your home sells. Furthermore, you choose the closing date before the auction even takes place. Typically, the winning bidder has thirty days to close. From the initial launch of the auction marketing cycle to auction day to closing, you know the exact timetable as to when you will have your home sold and closed.

I could turn this list into 10, 20, 100 reasons to sell your luxury home at auction. We have a whole staff of expert real estate marketers and salespeople here to tell you all the reasons that auctions work. These are just the top three reasons we hear the most as to why high-end sellers choose the auction route.

For more on selling your home at auction click below for The Ultimate Guide to Selling Your Luxury Home or reach out to anyone on our staff.

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