Selling Your House at an Auction 101

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Do you have a luxury home that you want to sell a Luxury Real Estate Auctions? But you have no idea where to start. We can tell you how, step by step. There are lots of benefits and advantages of selling your home at an auction. You may have to invest a fair amount, but the return is worth it.

Find a luxury auctioneer:

This is really important and may take time. Ask your acquaintances and once you find someone worth considering, ask them a few important questions. Ask how many houses they have sold, know the profile. Your advertising strategy and how much do you want to spend on it. Check references. Once all of this comes out clear hire an auctioneer.

Decide if you want to set a minimum price:

a reserve auction is a safer option meaning the bidding starts at minimum price and house won’t be sold at a price less than that. On the flip side is an absolute auction, where the highest bidet gets the house no matter how much the worth. However, set your reserve price very carefully don’t go into a loss, it can happen.

Discuss how much will you pay the auctioneer:

Discuss this beforehand, in luxury auctions price differs. As you are selling a luxury home you are expected to pay more. Usually, auctioneer tells you that before you discuss other things.

Don’t be afraid to market:

Market your house people who can afford to buy houses at luxury look up for houses online and on social media, the market in any place you can but social media is a great advertising touch point. Marketing is the best way to sell. Go big if your house is worth it.

Only wealthy bidders should be qualified to bid:

Since it is luxury auction all bidders will be wealthy but decide how wealthy, and check bank statement before you let them bid. Because if you don’t your value will go down if they bid too low.

How to bid will be accepted:

How will you accept the bid, in your lawn, indoor or in advance? Discuss with your auctioneer and decide on the best way.

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